IBank Board Approves $4.4 Million Loan to Alta Irrigation District for Water Conservation Project
The Traver North Pond will provide flood protection and water conservation by capturing excess surface water during wet years
SACRAMENTO (December 2, 2024) — The California Infrastructure and Economic Development Bank (IBank) board of directors approved $4.4 million in loan financing for the Alta Irrigation District for a project that will help prevent groundwater overdraft, provide flood protection, and help in water conservation efforts by capturing excess surface water to improve the groundwater table and increase the available supply for California farmers.
The Alta Irrigation District is a public agency that supplies irrigation services to agricultural customers and recharges the local water supply. The district spans the eastern side of the San Joaquin Valley in parts of Tulare, Fresno, and Kings counties. It operates about 250 miles of open canals and 75 miles of pipeline and serves about 2,900 agricultural customers.
The board approved the $4.4 million Infrastructure State Revolving Fund loan for the district’s Traver North Pond, Surface Water Utilization Project. The project includes the purchase and construction of a 40.5-acre water recharge facility in Tulare County. Water will be delivered to the site from the Traver Canal, using surface water supplies, which would primarily include Kings River floodwater. Low lying embankments less than six feet in height will be constructed from onsite soil for two or more basin cells. Existing turnouts on the Traver Canal will be modified to deliver water to the site by gravity methods.
The district says that drought periods over the last 50 years have caused an increase in agricultural groundwater pumping and the new recharge facility is needed to capture surface water and mitigate conditions created by drought. The stored water will help offset groundwater pumping by recharging the aquifer, creating a buffer during dry years when surface water is scarce. Additionally, these efforts contribute to the district’s groundwater sustainability efforts in compliance with California’s Sustainable Groundwater Management Act (2014). The project serves a disadvantaged community and will help with greenhouse gas reduction by raising the water table, which in turn reduces energy use when pumping groundwater in the area.
“Water conservation is critical, but ever more so in a state prone to drought, and especially in the San Joaquin Valley, which produces more than half of California’s agricultural output and contributes greatly to the nation’s food supply,” said IBank Executive Director Scott Wu. “Additionally, disadvantaged communities are the hardest hit by less predictable water supplies, which is why IBank is particularly proud to help California farmers and community members in the eastern San Joaquin Valley by financing this important project.”
“Alta Irrigation District is proud to have partnered with IBank to secure a loan for the Traver North Pond,” stated Chad Wegley, Alta Irrigation District General Manager. “The IBank team has been great to work with. Their dedication throughout the process helped us secure the funding needed to move forward on this critical water resources project that will deliver significant benefits to the disadvantaged community of Traver and surrounding areas including improved groundwater quality, more water supply reliability, and flood protection.”
The Traver North Pond, Surface Water Utilization Project is expected to generate 15 temporary construction jobs.
About the California Infrastructure and Economic Development Bank: IBank was created in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy, and improve the quality of life for Californians and communities throughout the state. IBank is located within the Governor’s Office of Business and Economic Development and is governed by a five-member board of directors.
IBank issues tax-exempt and taxable revenue bonds, provides financing to public agencies, provides credit enhancements, acquires and leases facilities, leverages state and federal funds, and provides loan guarantees and other credit enhancements for small businesses. Visit us at ibank.ca.gov.
Karen C. Naungayan
Deputy Director of External Affairs
Office: 916.447.8474
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