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Park Water Company Approves $23.5 Million CIP For 2014
Park Water Company announced its board of directors approved a $23.5 million capital investment program for Park Water and its subsidiaries in California.
The capital investment program includes $11.8 million for Park Water utility operations and corporate services. The regulated utility operations of Park Water serves over 27,000 customers, providing water service to an estimated population of 133,000 people in several communities in southeast Los Angeles County.
The approval includes a $7.7 million capital investment program for Apple Valley Ranchos Water Company, a regulated California utility that has over 19,000 customers and provides water service to about 65,000 people in and around Apple Valley.
The capital investment program includes $4.0 million for Mountain Water Company, a regulated utility in Missoula, MT. Mountain Water serves over 22,000 customers providing water service to a population of about 65,000 people in and around the city of Missoula.
Park and its subsidiaries will direct over 80 percent of the capital investment program to improving or replacing water mains, service lines, meters, hydrants, wells, pumping facilities, reservoirs and other water system infrastructure to assure continued reliable service. The balance of the program is for investments in items such as water supply rights, field and office equipment, technology and site improvements.