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CITY OF COLTON <br />AGENDA REPORT (Continued) <br />FOR COUNCIL MEETING OF AUGUST 16, 1994 <br />SUBJECT: APPROVAL OF A LETTER AGREEMENT AMONG THE <br />ELSINORE VALLEY MUNICIPAL WATER DISTRICT AND <br />THE CITIES OF ANAHEIM, AZUSA, BANNING, COLTON, AND <br />RIVERSIDE, CALIFORNIA REGARDING A PUMPED <br />STORAGE PROJECT <br />ALTERNATIVES <br />Failure to execute the Letter Agreement would negate the settlement between the Cities and <br />Elsinore. The settlement, as presented, satisfies the needs and desires of all the parties involved, <br />including the regulatory agency. Refusal to sign would most likely result in litigation of the <br />matter. By signing the Letter Agreement, none of Colton's interests are sacrificed. <br />FINANCIAL IMPACT <br />There are no financial impacts as a result of signing the Letter Agreement. <br />ENVIRONMENTAL IMPACT <br />There are no environmental impacts as a result of this action. <br />RECOMMENDATION <br />Staff recommends that the City Council approve the signing of the Letter Agreement between the <br />cities of Anaheim, Azusa, Banning, Colton, and Riverside and the Elsinore Valley Municipal <br />Water District regarding a pumped storage generation project at Lake Elsinore. <br />1 <br />City Manager's Concurrence: IWIA A, <br />REPORT PREPARED BY THOMAS K. CLARKE, ACTING ELECTRIC UTILITY DIRECTOR <br />Page 2 of 2 Item No. <br />