Sites Reservoir Project Assignment Authority Debated and Approved The board engaged in lengthy discussion over authorizing the General Manager to approve assignment of project shares between Sites Reservoir participants without board approval for each transfer. Director Gracia expressed concerns about maintaining board oversight on a project approaching $500 million in costs, arguing the board needs to monitor participant commitment as a signal of project viability. The motion to require board approval for each transfer failed 2-3, and the board ultimately approved 4-1 to grant the General Manager authority to approve non-material share assignments between current participants. This streamlines administrative processes as the project approaches its critical investor commitment period in Q2 2026.
Already have an account? Sign In
