And Folsom apparently has found some.
Water deal key to Folsom growth
Natomas firm's pact could allow building south of Hwy. 50.
By Mary Lynne Vellinga - Bee Staff Writer
Published 12:00 am PDT Saturday, August 4, 2007
A little-known water company created by farmers in Natomas is on the verge of selling a big chunk of its water to the city of Folsom -- a deal that would clear the way for thousands of homes to be built south of Highway 50.
Folsom would use the water to supply the 12,000 new residential units and accompanying offices and stores proposed for 3,600 acres south of the current city limits.
Finding a water source has been the most significant hurdle facing the city as it seeks to expand.
In a 4-2 vote, the board of directors of the Natomas Central Mutual Water Co. recently endorsed the idea of transferring a portion of its U.S. Bureau of Reclamation water to Folsom.
The water deal -- in which the water company could receive a total of more than $60 million -- is not final, however. Natomas Central will conduct a study to make sure the water being sold is actually not needed by farmers in Natomas. Then it will submit the agreement for a vote of the company's 275 shareholders.
Under the terms approved last week, Folsom would buy the right to an annual allotment of 8,000 acre-feet of water from the U.S. Bureau of Reclamation. Another 7,000 acre-feet could be included in the sale if the district determines it has enough surplus water, said general manager Dee Swearingen.
