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Utility Acquisition Assessment Process
The Regional District has received expression of interest letters from Sage Mesa Water and Public Service Co. Ltd to sell the water system to the Regional District. This utility is located in Electoral Area “F” on the west side of Okanagan Lake.
The Regional District has a Water and Sewer Utility Acquisition Policy that outlines specific activities for the transfer of utility systems. In order to capture and coordinate all acquisition aspects, the acquisition assessment process for the services is complex and methodical.
In January 2023, the Regional District and Sage Mesa Water and Public Service Co. Ltd entered into an agreement to explore the transfer of this utility ownership.
Successful completion of this transfer includes the initiation of due diligence for the Utility Acquisition.
The following outlines the Acquisition Assessment schedule;
February 2023: Board approval to proceed with Utility Acquisition Process.
April 2023: Collection of background information and retaining of consultant.
June 2023: Project Kick-off.
October 2023: Completion of engineering and financial assessment for systems by consultant.
November 2023: Completion of financial, asset and liability assessment and staff capacity review.
December 2023: Completion of Assessment Report.
January/February 2024: Board review
March 2024: Begin public and owner engagement with results of assessment.
April 2024: Staff capacity review.
Mid 2024: Public assent process and Regional District Board endorsement for proceeding with acquisition and borrowing of funds to attain all required regulations and standards.
Mid to Late 2024: Decision based on assent process results from customers, the Board, and the owner of the private systems, the acquisition process will either continue or stop.
Mid to Late 2024: If acquisition proceeds, transition plans will be prepared and an official transfer date will be set.
Utility Acquisition Assessment Process
The Regional District has received expression of interest letters from Sage Mesa Water and Public Service Co. Ltd to sell the water system to the Regional District. This utility is located in Electoral Area “F” on the west side of Okanagan Lake.
The Regional District has a Water and Sewer Utility Acquisition Policy that outlines specific activities for the transfer of utility systems. In order to capture and coordinate all acquisition aspects, the acquisition assessment process for the services is complex and methodical.
In January 2023, the Regional District and Sage Mesa Water and Public Service Co. Ltd entered into an agreement to explore the transfer of this utility ownership.
Successful completion of this transfer includes the initiation of due diligence for the Utility Acquisition.
The following outlines the Acquisition Assessment schedule;
February 2023: Board approval to proceed with Utility Acquisition Process.
April 2023: Collection of background information and retaining of consultant.
June 2023: Project Kick-off.
October 2023: Completion of engineering and financial assessment for systems by consultant.
November 2023: Completion of financial, asset and liability assessment and staff capacity review.
December 2023: Completion of Assessment Report.
January/February 2024: Board review
March 2024: Begin public and owner engagement with results of assessment.
April 2024: Staff capacity review.
Mid 2024: Public assent process and Regional District Board endorsement for proceeding with acquisition and borrowing of funds to attain all required regulations and standards.
Mid to Late 2024: Decision based on assent process results from customers, the Board, and the owner of the private systems, the acquisition process will either continue or stop.
Mid to Late 2024: If acquisition proceeds, transition plans will be prepared and an official transfer date will be set.
