Welcome!

Mobile IoT Authors: Liz McMillan, Elizabeth White, Jason Bloomberg, Pat Romanski, Jose Diaz

News Feed Item

Table Rock Capital, Ullico affiliate and Veolia Water deliver solution to strengthen California city's finances, create jobs and deliver sustainable water services

Rialto, Calif., secures more than $76 million in cash and investments and a sustainable environmental solution through international financing model

SAN FRANCISCO, Dec. 12, 2012 /PRNewswire-USNewswire/ -- In contrast to numerous cities facing financial challenges, the City of Rialto, Calif., has just finalized a 30-year agreement securing approximately $35 million in cash for economic development, $41 million in funding for future water and wastewater system improvements and associated jobs, and gaining the expertise of a professional water company to deliver system and service improvements. 

The city's new public-private concession is demonstrating a way for other cities to strengthen their financial condition while improving infrastructure services and creating jobs.  Led by partners Table Rock Capital, a Ullico affiliate, and Veolia Water, this approach - sustainable water management practices that support a community's economic growth and social stability - could serve as an important model for cities across the country struggling with substandard infrastructure systems, a lackluster economy and dwindling revenues. It's especially relevant in California, where just last week, San Bernardino became the latest city to file a bankruptcy plan.

Through a public-private concession agreement commonly utilized in Europe and Asia but less commonly used in the United States, the City of Rialto and its concessionaire Rialto Water Services (RWS) have hired Veolia Water North America (Veolia Water) to manage the city's water and wastewater systems. The City of Rialto retains full ownership of the water and wastewater systems, control and ownership of the water supply and water rights, and transparent public authority over all rate setting. Rialto Water Services is jointly owned by Table Rock Capital and a Ullico affiliate, who have jointly made a 30-year commitment to the performance, safety, customer and community satisfaction, and lasting cost and energy efficiencies of Rialto's water and wastewater systems for the city's residents.

The contract follows a public-private concession agreement signed earlier this year by the City of Rialto and Rialto Water Services that resulted in a $35 million upfront payment to Rialto at financial close; a $41 million capital improvement program to upgrade Rialto's water and wastewater facilities; and ongoing annual utility payments to the city as part of the agreement. 

Rialto is utilizing the new funding source for various long-term economic development projects including the area's Airport Redevelopment Project.  The city compared providing water services through its existing water and sewer agency, and through the selected alternative delivery model.

The new 30-year contract with Veolia Water essentially represents the life of the concession agreement and is valued at more than $300 million. Rialto Water Services will manage the Veolia Water contract and oversee the five-year, $41-million capital improvement program increasing the cost efficiency, compliance, water quality, and reliability of the city's wastewater and water systems for the life of the concession. The capital improvement program is expected to generate 445 construction jobs.  All affected city employees have accepted positions at Veolia Water.

The RWS concession refinances the city's aging water and wastewater systems without privatizing those assets, and provides the capital necessary to fix and replace water and sewer lines, develop necessary new infrastructure and seismic upgrades, improve cost efficiencies, and provide lease payments back to the city, supporting additional economic development and local jobs.

Veolia Water was a natural choice as operator, considering the company's 40-year history in California and 9 years providing environmental services and employment to Rialto residents as operator of the city's wastewater plant and collection system.

"The RWS partnership ensures that the city's water and wastewater infrastructure is upgraded and run in the most cost-efficient manner, while also laying the groundwork for new economic development," says Rialto City Administrator Mike Story. "We've worked with Veolia for years in the community and this arrangement allows for both continuity and improvement in the water resource and wastewater service, and it assures us that the total commitment to the residents of the City of Rialto is met."

Under the contract, Veolia Water will operate and manage (O&M) a sewer collection system consisting of more than 260 miles of pipeline, six lift stations, and a wastewater treatment plant currently operating at approximately eight million gallons per day. Veolia Water will also provide O&M services for the city's water system, with a total user population estimated to be approximately 50,000. The water system includes five water reservoirs, distribution, eight groundwater wells, and related pumping infrastructure.

"We've worked with Rialto for almost 10 years and have established a relationship of trust that supports the community's economic vitality," said Laurent Auguste, president and CEO, Veolia Water Americas. "Rialto is taking the right step in restoring and improving its infrastructure, and we're excited for the opportunity to help them through our new and expanded role."

The financial backing and structuring of Rialto's groundbreaking public-private concession was provided by San Francisco-based Table Rock Capital, led by Peter Luchetti. Table Rock and an affiliate of Ullico, Inc., the nation's only labor-owned insurance and investment company, provided equity financing with additional parties providing debt financing on the approximate $172 million in total financing. The financing consists of $25.8 million (15%) equity and $146.3 million (85%) debt in the form of a 30-year private placement with a 5.5% semi-annual coupon. Placement agents for the debt are Barclays, and Goldman Sachs. "With the loss of redevelopment financing, creative partnerships such as these are increasingly critical to communities who want to restore infrastructure, gain efficiencies, and get a competitive edge when it comes to creating jobs and economic growth," said Luchetti.

Based in San Francisco, Table Rock Capital is a private equity team specializing in public-private infrastructure finance. With a record rooted in both global finance and the politics of local, Table Rock's central focus and expertise lies in accelerating and improving the delivery of infrastructure to meet the objectives of its public partners, and produce overall value for money and life-cycle cost savings. Table Rock is a leading voice on P3 policy and practice, welcomes the challenge of tough problems, and is experienced in water and wastewater, energy and transmission, social infrastructure, transportation and telecom. 150 California Street, Suite 600, San Francisco, CA 94111

SOURCE Table Rock Capital

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...