In alignment with its commitment to environmental sustainability and prudent financial management, the City of Fillmore has launched a $5.59 million project to purchase and install new water meters throughout the City. The City partnered with Columbia Capital Management, LLC, its municipal advisor since 2007, to design and structure a financing plan that maximized flexibility and cost efficiency. This flexibility was critical as the City was simultaneously applying for federal grant funds as it was undertaking the financing, but the timing and grant amount remained uncertain. Through strategic negotiations, the City successfully secured a lease-purchase financing allowing for a prepayment of up to $2.5 million from federal grant funds without penalty.
To ensure the long-term financial stability of this project, Fillmore entered into an energy and water savings performance contract with Willdan Energy Solutions. This agreement guarantees revenue recovery from the newly installed water meters, ensuring that operational energy savings and revenue recovery provisions within the contract offset lease payments.
Debra Cavaletto, finance director for the City, stated, “The City of Fillmore is excited to use advanced meter technology in managing our water system to increase operational efficiency and raise conservation efforts. Customer access to information through this technology provides the opportunity to take better control of their water usage and mitigate issues in real time, rather than after receiving their bill.”
As the City of Fillmore continues to grow while preserving its small-town character, investments in critical infrastructure remain a top priority. This energy efficiency water meter project underscores the City’s dedication to fiscal responsibility, innovation and environmental stewardship.
About the City of Fillmore
Located in the scenic Santa Clara River Valley in Ventura County, the City of Fillmore is known for its rich agricultural roots, small-town charm and commitment to preserving its natural landscape. Since its incorporation on July 10, 1914, Fillmore has operated as a full-service municipality, currently serving 16,419 residents across its 2.2 square-mile city limits. The City’s leadership, including 35 full-time employees and several part-time staff, are dedicated to ensuring Fillmore remains a safe, clean and attractive place to live, work and visit.
For more information about the City of Fillmore and its initiatives, please visit www.fillmoreca.gov.
About Columbia Capital
Columbia Capital team has been a trusted financial advisor to the City of Fillmore since 200f, providing expert advice on financing strategies that support the City’s long-term fiscal health and infrastructure development. For more information about Columbia Capital, please visit www.columbiacapital.com.