2/29/2024 0 Comments Cadiz water conveyance project![]() “In a condition of scarcity, all water, all water that’s reliable, becomes more valuable,” Slater says. A decade ago the price was less than $100, he says.ĭrought is good news for Slater and Cadiz. Slater says water is worth as much as $2,200 an acre ft in San Diego, where it is shortest supply. The price of water in California has been steadily rising, as has demand from a growing population, while the state struggles with four years of severe drought. “People see this development as a private sector initiative and they have a very visceral, negative reaction to that,” Slater says. His problem, however, is convincing politicians, regulators and the public that pumping water 200 miles from the desert aquifer to LA is a good idea. That works out at $2.4bn over the 50 years of the company’s water extraction deal with San Bernardino County. Slater has already got contracts to sell the water for $960 an acre ft (the amount of water it takes to cover an acre of land in a foot of water). The company biggest investors, some of whom have been waiting for Cadiz’s water to flow to LA for more than a decade, include the New York hedge fund Water Asset Management and Crispin Odey’s Odey Asset Management in London. The holdings were built up by the company’s founder, Keith Brackpool, a British horseracing impresario, who came to the US after admitting having breached financial disclosure laws in the UK in the 1980s. Download the News Channel 3 app here.Cadiz owns water rights associated with 45,000 acres of land along route 66, about 75 miles north-east of Palm Springs. ![]() Be the first to know when news breaks in Coachella Valley. Water reclamation by local agencies and Mexico, plus the loss of Colorado River supplies that originally fed the Salton Sea, have caused water levels to drop and salinity to spike. The overpowering odor lingered for hours.ĭust clouds kicked up on parts of dry lake bed have raised other health concerns. An east wind in September 2012 created conditions for a sulphuric stench that wafted across the county into the Los Angeles Basin. The sea has been allowed to erode to the point of eutrophication, killing off animal and plant life because of extreme salinity. About one mile of shallow water is slated to run along the sea's north shoreline. The project will entail establishing 156 acres of shallow and deep marine habitat. On Tuesday, the Riverside County Board of Supervisors approved a $4.12 million contract with an engineering firm to manage the Salton Sea North Lake Pilot Demonstration Project, considered the first major step forward in restoration of the Salton Sea. The company did not disclose what it generally expects to net in investment returns under the project, and there was no timetable given for when the pipeline retrofit might be finished. Supplemental water deliveries, whenever available, will be provided to the CVWD for retail use, and Cadiz noted it will seek payments for the deliveries to at least cover its baseline distribution expenses. ![]() The latter will have discretion to determine how much of the stock will go into the receding sea and how much will be delivered to surrounding communities with limited access to safe drinking water. The agreement specified that about 1,500 acre-feet of piped water will be furnished to the tribe, while 3,500 acre-feet will go to the Salton Sea Authority. "Conserving water that would otherwise be lost to hyper-salinity and evaporation and using it to protect life in and around the Salton Sea is the best use of this precious resource.'' "Water is life,'' Torres Martinez tribal Chairman Thomas Tortez said. The issue of water-borne threats has caused significant habitation challenges on several of the Thermal-based tribe's properties in recent years, and is at the forefront of ongoing problems plaguing the Oasis Mobile Home Park. In addition to the pipeline, Cadiz said that it is prepared to install water treatment devices on existing and new groundwater wells within tribal land, providing a means to filter out arsenic, nitrates and other contaminants.
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