State   Federal   Water Quality & Environment   Indian Water Resources   Corporate   Municipal Finance 
 News & Information
State News

Monday April 28, 2008
ID: Idaho Water Resource Board Completes the Purchase of Pristine Springs Fish Farm near Twin Falls

Source: Idaho Water Resource Board

During the month of April, the Idaho Water Resource Board (IWRB) in a partnership with the city of Twin Falls, North Snake and Magic Valley ground water districts, completed a series of transactions resulting in the purchase of Pristine Springs fish farm operation. The transactions are designed to address conflicts between spring water users and ground water users in Magic Valley as well as provide the city of Twin Falls with a fresh water source to improve the quality of its water supply and provide for future growth of the city.

The acquisition of Pristine Springs provides ground water users with replacement water to address the Blue Lakes Trout Farm delivery call by making available 10 cubic feet per second (cfs) of water for mitigating ground water user’s depletions on spring flows at the Blue Lakes trout facility. The acquisition provides for a permanent solution to one of the water calls and keeps farmland in production that would have been dried up. The water districts will pay $11 million in total, $1 million initially plus $10 million and interest for 10 years as part of a loan from the IWRB. The IWRB will eventually have the $10 million plus interest returned to its revolving loan program which will be used to finance other water projects across the state.

The water provided by the water districts will avoid the need to curtail as many as 30,000 acres of ground water irrigated farmland thereby avoiding an estimated economic impact of $80 million to $100 million to the region.

The purchase also avoids potential water delivery calls from Pristine Springs and the city of Twin Falls. In addition, the acquisition resolves a lawsuit between the Department of Environmental Quality and the former owner of Pristine Springs concerning the amount of effluent returned to the Snake River by the fish farm operation.

The city of Twin Falls benefits from the plan and will contribute $10 million to acquire a clean water source in order to comply with federal water quality standards. The alternative for the city was to build a $33 million water treatment facility. The city will also have use of additional spring water to meet future growth.

Included in the acquisition of the Pristine Springs are two hydropower facilities that will generate approximately $100,000 per year under current agreements with Idaho Power. That revenue, in excess of operating costs, will be returned to the IWRB revolving loan program.

As part of the agreement, IWRB will lease the property back to the current owner to continue some fish farming operations for at least the next two years. The funds gained from the lease will further reduce the Board’s purchase price.
In addition to the numerous water supply benefits of the transaction, the State will own water rights for more than 200 cfs of water, 400 acres of prime river front property (including 200 irrigated acres), fish hatchery and hydropower facilities, and other buildings on the property. The $5 million in funding contributed by the Board is the result of an appropriation to the IWRB by the Idaho Legislature in 2006 to acquire water and facilities to help resolve water conflicts in the Thousand Springs area.

The deal resulted from the leadership of Governor Otter, Speaker Denney, Pro-Tem Geddes, Co-Chairmen of JFAC, Senator Dean Cameron and Representative Maxine Bell and the Idaho Water Resource Board. The acquisition was approved by the Joint Appropriation Finance Committee on March 12, 2008 by a 20 to 0 vote. It was also unanimously approved by the IWRB on March 14, 2008.

Contact:
Bob McLaughlin
208-287-4828

 

 

More State News
    
 Search for more stories
 State   Federal   Water Quality & Environment   Indian Water Resources   Corporate   Municipal Finance 

Copyright ©1999-2008 Stratecon Inc. All rights reserved.
Terms of Use | Privacy Policy | Disclaimer