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<br />JUL 1c.. Uc.. r~l 1''-10 <br /> <br />vWI\l\l <br /> <br />rH/\ NU, tj (UQtjll0jO <br /> <br />1"'. Uti <br /> <br />000635 <br /> <br />b.' Economic: si:ability--maint.aill current level: The direct <br />net economic value foregone from partially reduced <br />irriqaticn water supplies falls generally in the range o~ <br />$5-$30 per acre-foot, depending on location and type of use. <br />The net value of that water transferred to industrial and <br />househola use may be five to ten times or more as high as <br />the losses in the agricultural sector.8 <br /> <br />ll'hese figures do not ~ake into a.ccount the indirect impacts <br />of water transfer, which may include losses in government <br />j,nvestment for schools, roads, health care, and. public <br />safety. <br /> <br />Since the market availability of land and water resources <br />often reflect personal and family choices and circumstances <br />(e_g. retirement plans), it is not necessarily the least <br />productive agricultural land or irrigation rights that are <br />being'sold 'for municipal and industrial'transfers of wa~er. <br />Water buyers are often willing and able to pay higher prices <br />to bu~ land with the most secure and senior water rights, <br />regardless of the kind of proQuction or profitability of the <br />fo~~o:m.o 9 <br /> <br />c. Future growth: The aconomics of the area-of-need are <br />considered by the water court insofar as the needs of the <br />purchasing entity drive its search for supplies of water and <br />justify its application for transfer of the water. ~he <br />courts have permitted municipalities to own more water than <br />is necessary for current needs to meet the necessity of <br />planning for future pop~l~tion growth. However, the <br />economic stability ana"growth of an area-of-oriqin is not a <br />point of consideration b):' the "water court. <br /> <br />Determining how much water can be removed from an area-of- <br />origin without hurting its futureOqrowth is aifticult, 1t <br />not impossible, to determine. Estimates of business <br />oevelopment and employment opportunities that can feasibly <br />evolve in a particular area involve a c~rtain amount of <br />guesswork. <br /> <br />The amount of time involved in the ,purchase of water rights <br />and the proceedings in water court to change the type and <br />place of use of those rights, make transfers of water <br />neither sudden nor unexpected. Areas-of-o~ig1n have tiroe to <br />adjust and may be able to develop new sources of economic <br />stability, just as some former mining towns have become <br />centers of tourism and"recreation. Whether there are <br />~lternative sources of business that are feasible for any <br />specific area-of-origin, and whether those alternative <br />sources will provide jobs of similar income and skill level <br />would require further study. <br /> <br />12 <br />