Ownership for CdA water company changes
By | Hagadone News Network | UPDATED 15 years, 4 months AGO
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.
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