IID, Coachella Form Coachella Electric Financing Authority

COACHELLA (CNS) - The Coachella Electric Financing Authority was
formed today, a partnership between the Imperial Irrigation District and the
city of Coachella to collaborate on energy infrastructure investments within
the city.
  

``The Imperial Irrigation District is proud to partner with the city
of Coachella to support the infrastructure needed for the community's continued
growth,'' Karin Eugenio, chairwoman of the IID Board of Directors, said in a
statement. ``This agreement provided a practical framework that allows the
reliability and operational expertise of IID's public power system.''
  

The authority was created when the IID's Board of Directors approved a
Joint Exercise Power Agreement with the city Tuesday that will allow them
to fund and construct electric infrastructure upgrades, with an initial
investment of roughly $42 million.
  

The CEFA will identify specific projects through future agreements,
officials said.
  

``The creation of the Coachella Electric Financing Authority gives us
another tool to work collaboratively with local partners to deliver the
infrastructure necessary to support economic development and maintain strong
electric service for Coachella residents,'' IID General Manager Jamie Asbury
said.
  

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