Cadiz Southeastern Railway to operate one of the longest steam train routes in the U.S. as tourist attraction in California’s Mojave Desert
CADIZ, CA – Today Cadiz Inc. [NASDAQ:CDZI] (“Cadiz”, the “Company”) is pleased to announce that it has entered into a new trackage rights agreement (“Agreement”) with the Arizona & California Railroad Company (“ARZC”) that will facilitate the development of regularly scheduled steam train excursions through the celebrated Mojave Desert between Cadiz, California and Parker, Arizona, which would be one of the longest steam train excursion routes in the United States. The proposed new steam train operation, named the Cadiz Southeastern Railway (“CSER”), will be powered by water made available from the Cadiz Valley Water Conservation, Recovery & Storage Project (“Cadiz Water Project”) and, following the completion of additional permitting, will also feature a new museum and cultural center at the Cadiz Ranch property dedicated to the promotion of local desert and railroad history.
Today, a long-awaited draft maximum contaminant level (MCL) for Chromium-6 was proposed by the California Department of Public Health at 10 (ten) parts per billion (ppb).
Chromium-6 is a groundwater constituent found in over 30% of groundwater basins in California, including Riverside County’s Coachella Valley and various basins in Los Angeles, San Bernardino, Solano, Santa Barbara, San Mateo, Santa Cruz and Yolo Counties. For example, affected cities include Glendale, Burbank, North Hollywood, Pomona, Monterey, Chino, Joshua Basin, Phelan, Twentynine Palms, Solano, Daly City, Santa Ynez, Soquel Creek, Davis, Woodland, and parts of San Francisco. It also naturally occurs in the Cadiz Valley aquifer system at levels consistent with the proposed MCL.
In exchange trade with Kinder Morgan Cadiz to receive key 96-mile pipeline route for nominal fee; Cadiz also to receive $10 million payment upon Kinder regulatory filing
Transaction results in significant financial gain for Company
Los Angeles CA (December 11, 2012) -- Today Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, “the Company”) announced it has entered into a new agreement with Kinder Morgan, Inc. (NYSE: KMI) (“Kinder Morgan”) securing the Company’s ownership of a 96-mile natural gas pipeline linking its holdings in the Cadiz Valley to the northern and central California water delivery network. The exchange agreement divides 220 miles of pipeline currently under option to the Company, with the Company gaining ownership rights to the 96-mile eastern segment between Barstow and the Cadiz Valley and returning to Kinder Morgan rights to the 124-mile western segment.
Action Eliminates Federal Court Litigation involving the Company
Los Angeles, CA (October 5, 2012) – Cadiz Inc. (NASDAQ:CDZI) (“Cadiz”) reported today that a lawsuit filed in U.S. Federal Court jointly against the Company, the Santa Margarita Water District (“SMWD”), the County of San Bernardino (“County”), the U.S. Department of the Interior (“DOI”) and the U.S. Bureau of Land Management (“BLM”) has been dismissed. The Court determined that Petitioner RiverAHA was unlikely to succeed on the merits. The dismissal now ends the pending Federal Court litigation over the Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”). Legal proceedings challenging the recent Project approvals continue in California State Court.
Action by Board of Supervisors a New Milestone for Project
Los Angeles CA (October 2, 2012) -- Cadiz Inc. [NASDAQ: CDZI] (“Cadiz”) reported today that the San Bernardino County Board of Supervisors voted to approve the Groundwater Management, Monitoring, and Mitigation Plan (“GMMMP”) for the Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”). This represents another significant milestone for the Project, which will provide an annual reliable water supply to Southern California communities by capturing and conserving native groundwater currently being lost to evaporation from the aquifer system beneath the Company’s property in eastern San Bernardino County’s Cadiz Valley. The County’s action authorizes the Project to withdraw an average of 50,000 acre-feet of water per year.
Los Angeles, CA - Cadiz Inc. (NASDAQ:CDZI) ("Cadiz" or "the Company") is pleased to report today on its objectives for implementation of the Cadiz Valley Water Conservation, Recovery and Storage Project ("Project") and other asset development programs following the unanimous approval of the Project last month by the Board of Directors of the Santa Margarita Water District ("SMWD").
Santa Margarita Water District votes to certify Final Environmental Impact Report
Project will create reliable Southern California water supply and local jobs and investment
(August 1, 2012) Los Angeles, CA -- Cadiz Inc. (NASDAQ: CDZI) is pleased to announce that the Santa Margarita Water District (“SMWD”) Board of Directors voted unanimously to certify the Final Environmental Impact Report ("Final EIR") for the Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”) and approve the Project’s Groundwater Management, Monitoring and Mitigation Plan (“GMMMP”) and Purchase and Sale Agreement, which outlines terms for their participation in the Project. These actions follow a nearly 18-month environmental review and represent significant milestones for the Project.
Project Lead Agency Schedules Meeting to Consider Project Certification
Los Angeles, CA – Cadiz Inc. (NASDAQ: CDZI) reported today that the Santa Margarita Water District (“SMWD”), the lead agency of the environmental review process for the Company's Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”), conducted a public hearing yesterday evening to receive comment on the Project’s Final Environmental Impact Report (“Final EIR”) and related documents. At the conclusion of public comment, the Board adjourned the meeting until Tuesday, July 31st at 6:00pm when it will begin deliberations to consider certification of the Final EIR. More details about the July 31st meeting are available at www.smwd.com.
Rancho Santa Margarita CA (July 25, 2012) – Close to 2,000 South Orange County, California residents and customers of the Santa Margarita Water District (“SMWD”) have expressed strong support for the Cadiz Water Conservation, Recovery and Storage Project (“Project”) to the SMWD Board of Directors, which will review the Project’s environmental documents tonight.
South Orange County residents sent in reply cards they received through mailings or door-to-door visits to their homes by project advocates. The outreach program was carried out by Cadiz Inc. (NASDAQ: CDZI) in concert with the South Orange County Chamber of Commerce and Economic Coalition.
Los Angeles, CA -- Cadiz Inc. (NASDAQ: CDZI) today reported the release of the Final Environmental Impact Report (“Final EIR”) for the Cadiz Valley Water Conservation, Recovery and Storage Project (“Cadiz Project”). The Final EIR was issued by the Santa Margarita Water District (“SMWD”), a Southern California water provider and lead agency of the California Environmental Quality Act (“CEQA”) permitting process for the Project.
The Final EIR responds to comments received from the public regarding the draft environmental documentation that was issued by SMWD in December 2011. SMWD will hold a public hearing on July 25, 2012 regarding the Final EIR and consider certification of the document. Details about the hearing and a copy of the Final EIR are available at www.smwd.com. At the public hearing, SMWD will also consider approval of the Project’s Groundwater Management, Monitoring, Mitigation Plan and a Purchase and Sale Agreement. The Purchase and Sale Agreement between Cadiz and SMWD outlines economic terms for SMWD’s participation in the Project and establishes rights and responsibilities for Project implementation and operation.