Today, the California Water Commission announced that the Pacheco Reservoir Expansion Project will be awarded $484.55 million under Proposition 1, the full amount we requested. We are elated that our proposal to expand Pacheco Reservoir was viewed so favorably by the commission. We are also pleased that the commission has approved our request for early funding of $24.2 million. Given these approvals, we can proceed with the next steps in completing environmental documents and permit applications without delay.
This award will fund half of the total cost estimate of $969 million in our application. Santa Clara Valley Water District and our project partners, San Benito County Water District and Pacheco Pass Water District, will also pursue federal funds. The remainder would be paid through local water rates over several decades.
The project would expand Pacheco Reservoir's storage capacity to provide for increased emergency water supplies, improved water quality, and ecosystems benefits throughout our region and the Sacramento-San Joaquin Delta. This reservoir would serve as an insurance investment to support a secure water supply for our future.
Today’s good news portends well for Pacheco’s delivery of investment value to the public and environment. As chair of the Santa Clara Valley Water District Board of Directors, I will work to keep momentum going on finding the best solutions for Santa Clara County.