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<br />Discussion: <br />Wilkinson: Comment on misconception about ag efficiency: in the Platte and <br />Arkansas systems, the idea that by raising ag efficiency in these systems will <br />provide more water is incorrect; we will end up with less water. Grand Valley or <br />State line: this kind of efficiency would yield water; but it is much more site <br />specific. <br /> <br />Dinner <br /> <br />IV: Lower Arkansas Valley Water Conservancy District <br />Future: Land Fallowing-Water Leasing Program <br />Jay Winner, Peter Nichols <br /> <br />Proponent of land fallowing and water leasing <br />Palo Verde: California has put together a leasing/fallowing program as a defense <br />against condemnation; attitude of California farmers is very positive: revenue <br />stream, successful <br /> <br />Peter Nichols: Attorney for Lower District <br />Presentation <br />District has spent $500,000 <br />Historically: buy and dry up <br />Since 1960: lower AK valley has lost 60% of water through buy and dry up <br />Buy and dry: one time deal; land permanently dried up; cities (purchasers) realize <br />the appreciating value of the water <br /> <br />Land Fallowing-Water Leasing: <br />--Includes interruptible supply contracts, water banks, increased efficiency <br />--Difference is that there will be a super ditch company between leasers and <br />lessees <br />--Super Ditch company acts as broker <br />--Water is continued to be owned by shareholders <br />--Fallowing: 3 out of 10 years <br />--creates new crop-water <br />--annual leases <br />--multi year short and long term leases <br />--land not permanently dried up (ag continues) <br />--Shareholders realize the appreciating value of the water <br /> <br />Engineering Studies Underway <br />--estimate potential supply <br />--estimate demand for water leasing <br />--id existing and needed storage <br /> <br />9 <br />