Document review (March 24, 2017)
This afternoon I once again reviewed the documents including RFP, Proposal, Appraisal Summary Statement, and several other items of correspondence from Hayward Consulting Group which were submitted to the TOAV at a cost to date of about $200,000 for the purchase of Apple Valley Water Company (Liberty Utilities). Additional work is being planned to update the valuation of the latest Liberty filings to CPUC and the Eminent Domain legal proceedings in the future from this identified Expert Witness — David Hayward. Therefore, the cost for Hayward’s work is anticipated to go higher and particularly when this goes into courtroom proceedings.
Mr. Frank Robinson and Mark Puckett’s signatures and project management are at the heart of this transaction which will impact the TOAV for next 30 years including cost of any water company purchase in the approximate total of $80 million. Also of critical importance is the costs to date for litigation, public relations, telephone surveys, voting, and numerous other expenses, which are estimated in the range of up to $25 million. The bonding has been stated as $150 million recently.
My background, advanced education and unique credentials has allowed me for several years to carefully analyze business transactions including a wide variety of valuations including real estate appraisals for high net-worth individuals and corporations.
I therefore am offering my proven and trusted abilities and insights to some residents in order to assist them in understanding what this transaction includes so that they can become informed completely. Previous Blue Ribbon Committee members would be most welcome to engage directly with me. Time is estimated to be about 2 hours and the documents are available on the internet, but not on the Town’s website.
Al Rice, Apple Valley