Surface Water Rights Valuations
Cordillera Golf Courses:
There are four golf courses at Cordillera, in Eagle County, Colorado, that are served by various direct flow ditch rights. LWS developed the historic consumptive use analysis for each of the ditches relative to their ability to serve the golf courses both in quantity and reliability. Using comparable sales data, LWS valued each of the ditch rights and associated golf courses independently to derive a total valuation for these water rights.
The Maverick Ranch is located along the Arkansas River downstream of Salida and upstream of Canon City. There are historic irrigated acres on the ranch, using the senior, direct flow rights from the Pickett Ditch. To develop the highest and best use of these water rights, LWS conducted an historic consumptive use analysis, utilizing information provided through farm irrigator interviews, aerial photography, and use of the StateCU model to assess crop irrigation needs. The valuation was based on comparable sales of senior direct flow water rights in the Upper Arkansas River.
Old Brantner Ditch:
LWS has conducted two separate valuations of shares in the Old Brantner Ditch in Adams County, Colorado. Both properties have historically been used for irrigation and, therefore, our evaluation included conducting an historic consumptive use analysis to assess the volume of water that potentially could be converted to municipal use as the highest and best use for the shares. Our analysis included interviewing the farm irrigators, interpreting aerial photography, and simulating the crop irrigation needs using the StateCU model. Comparable sales data of similar senior, direct flow rights on the South Platte River immediately downstream of the Denver metropolitan area were used to value the shares.
LWS was requested to provide a valuation of an existing lake-filled gravel pit relative to a purchase by Adams County as an aesthetic feature at the end of a bike trail. Our client needed to understand the value of the highest and best use of the lake in setting the purchase price. Because the gravel pit had not been previously lined to allow it to be a water supply reservoir, part of the work involved assessing the additional costs to make the gravel pit usable as a water supply reservoir. The LWS water rights valuation, coupled with the land appraisal, was used to set the total value for the property.