SANDPIPA Merges with EIA
Pictured here: members of the SANDPIPA Board of Directors recieveing a mock check from Gina Dean, EIA COO (fourth from the left).
As of July 1st, the EIA and SANDPIPA merger will be complete. On June 2nd, the EIA Board of Directors finalized their side of the merger. Then on June 22nd, the final SANDPIPA Board meeting was held, where they confirmed the final merger provisions. This transaction is historic in the world of JPAs because a merger like this has not happened before. The merger allowed SANDPIPA to dissolve as an agency, take care of its outstanding liabilities, and return all excess funds to its 12 member cities.
“We are excited to have worked with SANDPIPA to provide them with an exit strategy,” said Mike Fleming, Chief Executive Officer of the EIA. “This was a creative solution, allowing SANDPIPA to wind down operations, economically transfer its outstanding liabilities to the EIA, and return almost $12M to their members. Of particular note was EIA's assumption of SANDPIPA's outstanding CalPERS liabilities for former SANDPIPA employees. This transaction was a win-win for all parties involved.”
The EIA is a member-driven JPA with membership that includes California public entities such as cities, counties, educational organizations, and other Joint Powers Authorities.