CDZIP - Cadiz Signs LOI with City of Hesperia for Water Supply | Benzinga
75,000 acre-feet of water supply will support sustainable growth and groundwater recharge in the Mojave River Basin.
LOS ANGELES and HESPERIA, Calif., June 10, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ:CDZI) ("Cadiz" or the "Company"), announced that on June 5th the Company signed a Letter of Intent ("LOI") to provide 75,000 acre-feet of water supply to the City of Hesperia as part of the Company's commitment to the "One Water" Initiative in San Bernardino County's Mojave River Basin.
Cadiz' participation in the One Water initiative with Victor Valley water agencies was announced in January. Under the "One Water" initiative, regional water agencies will develop a coordinated strategy for financing and building water infrastructure in San Bernardino County's Mojave River region. As part of its commitment, Cadiz, through its non-profit affiliate Fenner Gap Mutual Water Company, will supply surplus water to participating agencies from the Cadiz water supply and storage project in the eastern Mojave on an "at cost" basis. Participating agencies will jointly develop an infrastructure plan to conserve and efficiently utilize all water resources in the Mojave River Basin – including groundwater, recycled water, wastewater and imported water resources from the State Water Project.
"Implementing the One Water initiative is crucial ...