Idaho Public Utilities Commission
Case No. TRH-W-09-01, Order No. 30992
February 4, 2010
Contact: Gene Fadness (208) 334-0339, 473-8791
Ownership for CdA water company changes
The Idaho Public Utilities Commission has approved the sale of the Troy Hoffman Water Corporation to Dalton Square LLC of Coeur d’Alene. The water company, which serves about 144 customers in Coeur d’Alene, will retain the same name.
The seller is Brentwood Park LLC, owned by H. James Magnuson. The buyer, Dalton Square, is owned by Ron Stadley and Ken Murren. Formed in 2006, Dalton Square owns industrial buildings for rent in Coeur d’Alene as well as apartments in Plummer. Stadley has been the water master for the Troy Hoffman Water Corporation since 1995. The purchase price of $65,000 cannot be included in customer rates.
The commission said Dalton Square and its management team have the “operational expertise and financial wherewithal to meet the present and future needs of the water system.” As part of its review, commission staff contacted the Coeur d’Alene region of the Idaho Department of Environmental Quality to ensure the water company is in compliance with IDEQ regulations.
The actual sale, a transfer of stock, took place on April 1, 2009. “While no reason is advanced for the delay in notifying the commission of the sale, we find that no harm occurred to customers,” the commission said.
Dalton Square acknowledges that it understands that accounting for the water system must be maintained on a stand-alone basis separate and apart from any other business activities conducted by Dalton Square. The company’s accounting system must be in accordance with the commission’s Uniform System of Accounts. The commission is also requiring the company to update its tariffs, rate schedule format, rules summary and billing and collection documents to comply with current commission rules and regulations.
A copy of the commission’s final order or other documents related to this case can be accessed on the commission’s Website at www.puc.idaho.gov. Click on the water icon, then on “Open Water Cases,” and scroll down to Case No. TRH-W-09-01.