Approval of these Lease Agreements will result in long-term savings to the water rate payers of the City of Brea. The savings will vary each year based on the cost of water from Cal Domestic and MWDOC. Based on the projected rates for FY 2020-21, the net savings is projected to be approximately $29,000. Payment for leasing of shares will come from the Water Fund and there is no impact to the General Fund. The methodology for calculation of annual lease payment amount is included in Exhibit A of the agreements.
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