Water Reclamation Plant
Upgrades Workshop
July 8, 2026
Workshop Agenda
• WRP Upgrades Program Overview
• Communications & Public Outreach Plan
• Regulatory Landscape
• Financial Overview
• Owner Advisor Overview & Program Delivery
Water Reclamation Plant Background
Plant 1 was originally constructed in the
1950’s with upgrades in the early 1990’s
and mid-2000’s.
Plant 2 was originally constructed in the
1960’s and decommissioned in 1992.
Plant 3 was constructed in the late
1970’s with a major expansion in the
early 1990’s and further upgrades
completed in the mid-2000’s.
Water Reclamation Plant Background
• WRP capacity – 7.25 MGD, currently
treats 3.5 MGD
• Well maintained but at or nearing end
of useful life
• Few significant capital projects since
the last major upgrades
• Aging treatment plant is a challenge to
maintain and is in need of upgrades
Prior WRP Studies
2022 Wastewater Master Plan
• Condition assessment of all WRP facilities
• Identified conceptual upgrade alternatives
• WRP Upgrades included in Capital Improvement Program
WRP Upgrades Alternatives Analysis
• Detailed technical analyses and reports
• Evaluated various upgrade alternatives
Governance of WRP Upgrades Program
GovTeam
• Collaborative leadership across multiple departments
One Water Strategy
• Integrated management of all water resources
• Evaluate all options to optimize treatment, use and reuse Subject Matter Experts
• Long-range financial plan – Fieldman Rolapp
• Utility Rates – Raftelis
• Communications and Public Outreach – RMG Communications • Owner's Advisor - Jacobs
Jacobs' Owner Advisor Role
• Technical expertise and program management
• Bridge the gap between complex technical
requirements and management decisions
• Collaboration of all stakeholders including
operations staff
• Affordability based approach to explore all options
• Determine preferred upgrades program for Board
consideration – Phase 1a
• Identify and coordinate the preferred procurement
method
• Ensure continued operations and regulatory
compliance throughout entire project
WRP Upgrades Program Progress
June 2026
Kick Off Meetings
Readiness & Operational
Assessments - WRP Visits
May 14, 2026
Project Chartering and
Governance Workshop
April 8, 2026
OA Agreement Award
July 8, 2026
CSD Board workshop
April 17, 2026
Notice to Proceed and
Data Request
Communications &
Public Outreach
Items of Discussion
1. Communications Priorities
2. Program Branding
3. Communications Tools and Tactics
4. Communications Timeline and Next Steps
COMMUNICATION PRIORITIES
• Share regular program
updates at key milestones
(and in between)
• Communicate clearly and
transparently
• Make it easy to learn more
and stay engaged
• Answer all questions and
address feedback from the
community
Keeping the community informed and engaged
• Why this program matters
to Camarillo
• How it ensures reliable
service for the future
• How this generational
investment protects the
community for decades
• How program costs will
pay for tangible benefits
to ratepayers
Keeping the Community
Informed
Building Understanding
Program Branding
The Camarillo One Water mark combines the
region’s recognizable features into a single
emblem that symbolizes the interconnected
nature of the One Water approach.
Shown in horizontal and stacked formats for flexible use across website, print materials, social media, signage, etc.
COMMUNICATIONS TOOLS & TACTICS
How we plan to engage the community
Tools will be selected based on Board direction and community needs, with a focus on transparency and broad engagement and accessibility.
Public Education
• Multi-platform
messaging
• Project FAQs
• Educational videos
• Explainer graphics
• Virtual plant tour
• Additional tactics
Community Engagement
• Open houses/public
information sessions
• Stakeholder briefings
(advocates, HOAs,
environmental, etc.)
• Business/commercial
outreach
• Engagement
with diverse groups
• Board support and
talking points
Comms Channels & Media
• Standalone project
website (top priority)
• Social media posts
• Graphics
• Videos
• Newsletter content
• Program email updates
• Media outreach
and background
materials
COMMUNICATIONS TIMELINE
Near-Term Priorities
Key Messaging
Finalize core
project messaging
Mid-July 2026
Branding
Begin brand rollout
Late July 2026
Project Website
Launch site as
central hub for
updates, FAQs, and
resources
Early Aug. 2026
FAQs
Publish and
update as needed
Early Aug. 2026
Develop
Educational
Videos
Program need and
key benefits
Sept. 2026
Regulatory Landscape
One Water – Regulatory Considerations
▪ WRP is currently in compliance
▪ As One Water considers all types of water, all permits need to be evaluated to ensure the project is feasible, compliant, and forward compatible with future requirements • Wastewater
• NPDES facility permit – Regional Board – every 5-years – waiting on new one • WDR recycled water permit – water quality, end user responsibilities • State Water Board – water rights permit – creek diversions, use of recycled water • Regional Board & DDW – recycled water percolation ponds • Federal EPA – wastewater solids
• VCAPD – air pollution district – generators, air quality, etc. • Groundwater
• FCGMA – regulatory agency – manages groundwater extraction • Stormwater – MS4 NDPES permit – Regional Board - water quality • Drinking water – permit from DDW – water quality
• SMP brine line discharge agreement – Calleguas – future WRP connection Financial Overview
City of Camarillo
Camarillo Sanitary District
July 2026
Overview of Financing Options
Disclaimer
Fieldman, Rolapp & Associates, Inc. is an SEC-registered Municipal Advisor, undertaking a fiduciary duty in providing financial advice to public agencies.
Compensation contingent on the completion of a financing or project is customary for municipal financial advisors. To the extent that our compensation for a transaction is contingent on successful completion of the transaction, a potential conflict of interest exists as we would have a potential incentive to recommend the completion of a transaction that might not be optimal for the public agency.
However, Fieldman, Rolapp & Associates, Inc. undertakes a fiduciary duty in advising public agencies regardless of compensation structure.
These materials include an assessment of current market conditions, and include assumptions about interest rates, execution costs, and other matters related to municipal securities issuance or municipal financial products. These assumptions may change at any time subsequent to the date these materials were provided.
The scenarios presented herein are not intended to be inclusive of every feasible or suitable financing alternative.
Capital Financing Options Summary
Sources: US EPA and State Water Resources Control Board. • Debt financing is reviewed in conjunction with funding provided by grants and PayGo sources
Tax Exempt Loans /
Bonds WIFIA SRF
Lien Priority Issuer's Option Senior or Subordinate Senior Borrowing 100% 49% Up to 100% (1)
Prepayment
Usually, 10 Years
After Closing
(Anytime for VRDO)
Annually, $500,000
Minimum
With Consent
of SWRCB
Rate Reset N/A Permits 1 Rate Reset, and
1 Re-Amortization N/A
Amortization Typically, 30 Years 35 Years after Program Completion Between 20-30 Years
Timing to Receive
Funds 4-6 Months Up to (2) Years 2-3 Years, Depending
on the State
(1) Depends on available funding allocations from SWRCB; currently capped at $50 million.
State and Federal Programs
CWSRF Interest Rate History*
Source: State Water Resources Control Board.
* Based on available data from CWSRF's website, the interest rate averaged approximately 1.83% since 2010.
SRF Application Submittal Requirements
1. Technical Package 2. Financial Package
❑ Technical, Managerial, and Financial (TMF)
Assessment Form
❑ Water Rights Documentation (for surface water,
ground water, and/or purchased water)
✓ Information on permits, licenses, letters of
authority or other agreements
❑ Surface Water (i.e., appropriative or riparian
water right)
❑ Ground Water (i.e., unadjudicated / adjudicated
basin)
❑ Purchase Water (i.e., water service agreement)
❑ Drought Planning (i.e., compliance, deficiencies,
plans to comply)
❑ Audited Financial Statement (last 3 years)
❑ Budget Projections (2 years out or more)
❑ Tax Questionnaire
❑ Reimbursement Resolution (adopted for review by
DWSRF Attorney)
❑ Authorizing Resolution/Ordinance
❑ Rate Adoption Resolution, Copy of Rates, and Public
Notice of Proposition 218 Meeting (most recent)
❑ Schedule of Related Debt and Debt Document
Copies
❑ Debt Management Policy
❑ New Special Tax, Assessment District, or service
charge projections
❑ Relevant Service, Management, Operating, or Joint
Powers Agreements
WIFIA LOI Submittal Requirements
1. Description of Program 2. Environmental Review
▪ Purpose of the program, including
quantitative, or qualitative details on
public benefits the program achieve
▪ Requested amount of WIFIA Loan
▪ Estimated total eligible program costs
▪ Estimated date of Application Submittal
▪ Area served by the program, its
population and the percentage of the
population the program serves
▪ Total population served
▪ Location of program site and if
unselected the distance between any
sites under consideration
▪ Program schedule: planning
commencement and completion dates,
design commencement and completion
dates, and construction commencement
and completion dates
▪ 2 technical reports; could be preliminary
design/engineering report, basis is
design report, master plan, CIP
program summary, or facility plan
▪ Advise EPA if program includes
▪ New surface reservoir
▪ New or increased surface water
intakes
▪ New effluent discharge
▪ New or increased groundwater
withdrawals without equivalent
recharge
▪ Large-scale ecosystem restoration
program
▪ For program components listed in
environmental review above:
▪ List federal environmental permits or
determinations required, example
NPDES
▪ Status of permit approvals and
timeline for submission and issuance
▪ Status of environmental cross-cutting
authority, such as Endangered Species
Act and National Historic Preservation
Act for components without a final
permit
▪ If available provide any NEPA, or NEPA-like
documents, such as EIR/Record of Decisions,
FONSIs, Environmental Assessments, State
EIRs, etc.
3. Other Information
• Security for the Loan, the revenue pledge
• Credit rating or pro-forma
• Sources and Uses
• Explain how program will:
• Support economic growth, construction and
post-construction jobs
• Promote domestic preference for products to
construct the program
• Support international commerce
• Protect human health, and/or the
environment
• Protect the system, assets, or community from
extreme weather events, drought, floods, sea
level rise
• Protect water resources with exceptional
recreational or ecological value
• Serve a population impacted by significant
energy exploration, development or
production
• Have regional, municipal or multistate
importance
• Address existing compliance issuers, or
maintain compliance
• Reduce exposure to lead or emerging
contaminants
• Have costs for cybersecurity measures
included
• Include innovative technologies, or innovative
approaches to design, planning or
implementation
Water Infrastructure & Finance Innovation Act (WIFIA)
Source: U.S. Environmental Protection Agency.
❑ WIFIA Closed Loans
▪ As of June 5, 2026, WIFIA has closed 154 loans totaling $23 billion in credit assistance to help finance $51 billion for water infrastructure projects and create 173,000 jobs
▪ WIFIA closed 48 loans in California since 2018
❑ Recently closed WIFIA Loans in California in 2026
▪ Daly City Joint Powers Financing Authority ($34 Million) ▪ Amador Water Agency ($58 million)
❑ OMB Approved California Loans (Pending Closing)
❑ Big Bear Valley
❑ Las Virgenes
❑ WIFIA, a federal credit program administered by the US Environmental Protection Agency (EPA) was established for eligible water and wastewater infrastructure projects ❑ WIFIA can finance up to 49% of the eligible program costs
WIFIA Program Overview
Source: U.S. Environmental Protection Agency.
WIFIA loans provide flexible financial terms (Borrowers must be investment grade)
▪A single fixed rate is established at closing based on UST, plus 0.01%.
▪Ability to reset the rate once after loan execution
▪Customized repayment schedules.
▪Maturity date: Must be the earlier of 35 years after the date of substantial completion of the program, or the useful life of the program.
▪Deferred payments may be deferred up to 5 years after the program's substantial completion.
▪Prepayable at any time once annually.
▪Subordination under certain circumstances.
▪Maximum federal involvement: 80% of total program costs. ▪49% of eligible program costs can be funded by WIFIA.
▪Ability to modify principal amortization once before
principal is paid
WIFIA Loans may take up to 12-18 month to complete
following submittal of Application
Source: U.S. Department of the Treasury.
Bond Financing
Variable vs. Fixed Rate Bonds
Fixed Rate Bonds Variable Rate Bonds
Interest Rate Fixed (Dependent on Market Conditions
at Time of Pricing)
Variable (Reset Generally Weekly,
Based on Market Conditions)
Debt Service Payments Semi-Annual Typically, Monthly Interest Payments Prepayment Usually, 10 Years
after Closing Anytime
Security Revenue Pledge Letter of Credit
Amortization Typically, 30 Years 30 – 40 Years
Timing to Receive Funds 4 – 6 Months 4 – 6 Months
Ongoing Fees
Arbitrage Rebate Consultant,
Continuing Disclosure,
Annual Trustee Fees
Arbitrage Rebate Consultant,
Trustee, Letter of Credit, and
Remarketing Agent Fees
Variable Rate Strategy
(1) Source: California State Treasurer’s website.
(2) Source: Bloomberg.
(3) Source: SIFMA website.
* The chart uses data for 32 Identified California Issuers. Examples include Orange County Water District (OCWD), Los Angeles Department of Water and Power (LADWP) removing the rate resets that correspond to the period affected by the LA fires, Airport Commission of the City and County of San Francisco, Calleguas-Las Virgenes Public Financing Authority, Bay Area Toll Authority – multiple deals, Western Municipal Water District (WMWD), Irvine Ranch Water District (IRWD), Elsinore Valley Municipal Water District (EVMWD).
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Variable rates resets for certain CA Issuers*
January 1, 2022 - present
LAIF (1) Weekly Average CA Issuers (2) Average CA Issuers Since 2022 (2) Average SIFMA since 2022 (3)
30YR MMD & 30YR UST History
(1) Source: Refinitiv.
(2) Source: U.S. Department of the Treasury.
Interim Financing
Short-T erm Capital Financing Options
❑ Interim financing may be a viable tool to access capital funding with short-term rates (typically, lower than long-term rates, except for SRF Loans)
▪ Notes or Commercial Paper can fund program costs on an interim basis prior to available long- term financing (i.e., Bonds or WIFIA Loans)
Short-Term Notes Commercial Paper
Lien Priority Issuer’s Option (Fixed) Issuer’s Option (Fixed for Tenor) Borrowing 100% (Policy Limitations) 100% (Policy Limitations) Prepayment
Market Driven Call Dates
(3-6 Months Prior to Maturity is
Typical)
Typically, Anytime Prepayment
Amortization
Issuer’s Option (Typically,
Less than 60 Months)
Interest Rate Fixed at Closing
No Longer than 270 Days
Interest Rate Changes based
on Market Conditions
Timing to Receive Funds 5-6 Months 3-5 Months
Fees Standard Issuance Fees, plus
annual Trustee Fees
Ongoing LOC Fees and Dealer
Fees (Renewal Costs)
Program Funds Received in Full at Closing Draw as Needed
Funding Capacity Options
Funding Capacity Options
❑ The LRFP model was used to determine the capacity for the CSD to fund Water Reclamation Plant (“WRP”) program using
different customer rate forecasts
❑ Fieldman looked at variations of the LRFP using different rate adjustments to determine the WRP capacity
▪ Rate Study Scenarios (Ceiling Options)
▪ Reduced Rate Capacity Scenarios (Floor Options)
❑ Fieldman calculated a WRP program capacity ranging between $150 - $328 million* as affordable for CSD using flexible debt repayment options and long-term cash flow planning
WRP Affordability
Rate Study Scenarios Reduced Rate
Capacity Scenarios
FY 2026 – FY 2031: 16.0%
FY 2032 – FY 2034: 7.0%
FY 2035: 6.0%
FY 2036 – FY 2039: 5.0%
FY 2040 – FY 2046: 3.0%
FY 2026 – FY 2029: 16.0%
FY 2030 – FY 2031: 8.0%
FY 2032 – FY 2046: 4.0%
* Results are based on the previous long-range financial review of the CSD’s operations from the Fiscal Year 2026 budgeted forecast results and is subject to change based on current information and updated budget assumptions.
Phase 1A Overview and
Program Delivery
Phase 1a Program Goals
Roles and Decision Authority
Scope Overview: Phase 1a Workstreams
One Water Decision Framework
1 DEFINE & GATE
Confirm the problem, screen
feasibility, and narrow to viable
alternatives.
2 SCORE
Compare the shortlisted
strategies against agreed One
Water criteria.
3 RECOMMEND
Select the preferred strategy,
phasing, and project delivery
approach for board consideration.
Scoring applies after the gates—not before.
Scoring lenses
Regulatory
Can it be permitted?
Affordability
Is it financially sustainable and
affordable?
Portfolio value
Does it improve system value?
Resilience
Does it manage climate risk?
Scored criteria to be finalized after the Decision Science Workshop.
Project Delivery Methods
More owner control More integration / lifecycle transfer 1 DBB
Design-Bid-Build
Owner designs first, then
bids construction
separately.
2 CMAR
Construction Manager at Risk
Contractor joins during design
to advise on cost, schedule,
and constructability.
3 DB
Design-Build
One team is responsible for
both design and
construction.
4 PDB
Progressive Design-Build
Owner and design-builder
collaborate before final
price and scope are locked.
5 P3
Public-Private Partnership
Private partner may finance,
deliver, operate, or maintain
the asset long term.
Key takeaway Delivery method choice mainly affects three things: when the builder joins, when price is established, and how much risk shifts from the owner to the delivery partner.
Note: Procurement rules and terminology vary by owner, jurisdiction, and funding source.
Educational overview
No board decision requested
How risk, control, and collaboration shift across common delivery models Progress to Date
Foundation established; technical workstreams mobilized; WRP baseline confirmed. ✓
01 Program team chartered
Completed Program Team Chartering
and Program Kickoff.
✓
02 Technical tasks mobilized
Conducted kickoff meetings across
multiple technical workstreams.
✓
03 WRP baseline established
Completed condition assessment site
walk to confirm existing WRP condition
baseline.
Key program milestones completed
Proposed Phase 1A Program Schedule and Board Engagement Cadence
Questions
CLOSED SESSION