Dear Editor: After years of discussion, it finally looks like the residents of Claremont are going to take control over their water system. And I couldn’t be happier. This week, the city council laid out a finance plan that will finally end Golden State Water’s costly monopoly in Claremont.
While the water system’s appraised value is $56 million, Golden State seems determined to grab as much cash on their way out of town as possible. The analysis done by the city indicates that the current water rates in Claremont can support an acquisition price as high as $80 million, even though it’s only worth $56 million.
But to the city of Claremont’s credit, they are making plans that will help ensure Golden State will no longer be able to hold our community’s water ransom. In the unlikely event a court forces Claremont to pay more than $80 million for the system, we will be ready. The city council is preparing a measure for the November ballot that will allow voters to approve an additional $40 million just in case Golden State wins their extortion attempt.
If the city needed to tap into that money to acquire, it will be money well spent. The cost would be about $21 per month and would vary based on water usage. Compared to how much Golden State continues to raise our water in Claremont, this cost would be pennies on the dollar.
I can’t wait to vote Golden State out of Claremont.