Point Reyes Light- October 8, 1998
Southern California operator to buy Dillon Beach water company
In a surprising three-way deal, Dillon Beach's Coast Springs Water may finally be sold.
A Southern California company is preparing to accept responsibility for the water-treatment plant and begin upgrading the delivery system, possibly as early as next month.
Coast Springs Water Commune serves 237 households in the older neighborhoods of Dillon Beach.
For 50 years, Larry Vanoni of Dillon Beach ran the water system but is now 85 and is no longer able to operate it.
Vanoni's daughter Pam Collette had been planning to sell the company to Pennsylvania-based water executive Joe Bonamaico, but last spring the state Public Utilities Commission said Bonamaico lacked the necessary capital to take over the system.
PUC staff then suggested that Collette consider selling to Dominguez Service Corporation.
"When we realized that the PUC wasn't going to approve Bonamaico," said Collette, "we struck a deal with Dominguez that included a guarantee of employment for [Bonamaico] at Coast Springs."
Shannon Dean, communications manager for Dominguez, confirmed that Bonamaico began working at Coast Springs Oct. 1. While waiting for the PUC to approve the system sale, Coast Springs will transfer responsibility of the treatment plant to Dominguez.
"We expect to issue a promissory note so that work can begin before the sale is complete," she said. Necessary upgrading of the system may begin in the next few weeks.
Dominguez plans to upgrade the system so that a water-hookup moratorium can be lifted. "It is our understanding that the only improvement necessary to lift the moratorium is the construction of a new holding tank," said Dean.
Dominguez, an 87-year-old Southern California firm traded on the NASDAQ, recently purchased three other small water companies in the North Bay: in Guerneville, Napa and Clear Lake. "We have a strong commitment to our customers and a reputation for excellent service," said Dean.
North Marin Water District, which once considered annexing Coast Springs, will have no involvement in this transaction other than offering routine, emergency consulting, said NMWD Auditor David Bently.