Welcome!

Mobile IoT Authors: Scott Allen, Elizabeth White, Liz McMillan, Carl J. Levine, Pat Romanski

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
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...