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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />does not go forward and the subject lands must revert, at best, to dryJand farm production <br /> <br /> <br />because the wells no longer could be pumped. <br /> <br />Table I, attached, tabulates an economic residual-value analysis assuming that the allowable 550 <br /> <br />ac-ft of consumptive use is used for irrigation of alfalfa, as has been the case in recent years on <br /> <br /> <br />Preisser's wells that are the subject of the augmentation plan. The assumptions and sources of <br /> <br />the data for this analysis are listed on Table I. The net capitalized value per acre-foot of <br /> <br /> <br />consumptive use for alfalfa production, as compared to non-irrigated native hay (if the agreement <br /> <br /> <br />were not in effect and no water could be consumed) is approximately $324 per acre foot of <br /> <br /> <br />consumptive use. Therefore, the value of the 2 cfs portion of the Box Springs right that will <br /> <br /> <br />allow Preisser to consume up to 550 ac-ft/yr is approximately $ 178,200. <br /> <br />t/ <br /> <br />Cost Estimate <br /> <br />Estimated costs for the water right, engineering, and attorney fees, as well as compensation to <br />other water users, are summarized as follows. <br /> <br />Box Springs water rights purchase: <br /> <br />Reid Compensation <br /> <br />HCWUA compensation <br /> <br />Smith compensation <br /> <br />Preisser's engineering & attorney fees <br /> <br />Other parties' attorney fees that Preisser <br />has agreed to pay: <br /> <br />$ 100,000 <br />$ 105,000 <br />$ 40,000 <br />$ 5,000 <br />$ 100,000 (estimated) <br /> <br />$ 31,000 <br />'V ..s~/( ~d10 <br /> <br />;;-( J <br /> <br />HRS WATER CONSUI.TANTS, INC. <br /> <br />page 10 <br />