Cadiz Inc. (NASDAQ: CDZI) reported today that the Santa Margarita Water
District ("SMWD"), the lead agency of the environmental review process
for the Company's Cadiz Valley Water Conservation, Recovery and Storage
Project ("Project"), conducted a public hearing yesterday evening to
receive comment on the Project's Final Environmental Impact Report
("Final EIR") and related documents. At the conclusion of public
comment, the Board adjourned the meeting until Tuesday, July 31st
at 6:00pm when it will begin deliberations to consider certification of
the Final EIR. More details about the July 31st meeting are
available at www.smwd.com.
At the public hearing, the Project received substantial support from the
community, businesses, and water industry experts. Organizations that
testified in support of the Project included South Orange County Chamber
of Commerce and Economic Coalition, Association of California
Cities-Orange County, Orange County Taxpayers Association, Rancho Santa
Margarita Chamber of Commerce, Rancho Cucamonga Chamber of Commerce, the
Engineering Contractors Association and Professionals for Water Supply
In addition to those that testified at the hearing, close to 2,000 South
Orange County, California residents and SMWD customers signed cards
expressing support for SMWD's efforts to improve water supply
reliability with this Project. These cards were submitted at the
hearing. In addition to the outpouring of support from South Orange
County residents, nearly 500 support cards from the Hi-Desert region of
San Bernardino County, which is local to the Project area, were also
added at the hearing.
About the Project
The Cadiz Project will provide a new, reliable water supply for
approximately 400,000 Southern Californians by capturing and conserving
groundwater that will otherwise be lost to evaporation from a vast
aquifer system beneath private property owned by Cadiz Inc. in
California's Mojave Desert. In its first phase, the Project will deliver
up to an average of 50,000 acre-feet per year to Southern California
water providers, including SMWD, Three Valleys Municipal Water District,
Suburban Water Systems, Golden State Water Company, Jurupa Community
Services District, and California Water Service Company. The Arizona &
California Railroad Company, which owns and operates the railroad
right-of-way to be used by the Project's proposed water conveyance
pipeline, will also receive water from the Project. A second potential
future phase of the Project offers approximately one million acre-feet
of aquifer storage capacity that can be used to carry-over, or "bank,"
annual supplies, without the high rates of evaporative loss suffered by
local surface reservoirs.
To safeguard the environment, the Project includes an extensive
monitoring and mitigation program that will be independently enforced by
the County of San Bernardino and SMWD. All Project facilities, including
a wellfield and 43-mile pipeline to the Colorado River Aqueduct, will be
built on private land and avoid any critical habitat.
About Cadiz Inc.
Founded in 1983, Cadiz Inc. is a publicly-held renewable resources
company that owns 70 square miles of property with significant water
resources and clean energy potential in eastern San Bernardino County,
California. The Company is engaged in the development of water supply
and storage projects and operates an organic farm in the Cadiz Valley.
In 2009 Cadiz adopted a wide-ranging "Green Compact" to implement
environmental conservation and sustainable management practices at its
properties. For more information about Cadiz, visit www.cadizinc.com.