How to Buy a Recharge Project on Credits Instead of Cash
Water Resources Manager, Metropolitan Domestic Water Improvement District
Metropolitan Domestic Water Improvement District (Metro) is a medium-sized public water utility serving 55,000 people with five separate service areas in Tucson, Arizona. In January 1, 2011, Metro purchased a CAP water underground storage facility as part of its goal to reach hydrologic sustainability by receiving wet water rather than paper water.
The sale developed by the Central Arizona Water Conservation District, Central Arizona Groundwater Replenishment District and Metro was executed by an exchange of recharge credits instead of a cash payment. The poster will provide details on the challenges encountered in such a transaction.
The poster will also present what was learned through the due diligence process and what improvements have been made by Metro to increase the infiltration rate in an underperforming basin.