Groper
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So after seeing the BW Casino bankruptcy tread I did a little search because it just didn't add up, here are few articles and press releases that add up to several millions in water leases, grants and a $100 million in crop revenue annually also these revenues will continue to increase for several years to come.
I understand that CRIT is helping other states in their efforts to share and conserve water and at the same time being well paid for it along with federal grants as well to maintain canals.
So with a nice revenue stream how does a Bankruptcy happen ?
"Tribes, in general, are powerful players in the Colorado River basin, holding approximately 20 percent of the water rights, some 2.9 million acre-feet. In interior Arizona and in other states they have negotiated lease deals that secure long-term water availability for cities while bringing in revenue for the tribe."
"CRIT pledged to fallow farmland and leave 50,000 acre-feet per year in Lake Mead for three years, starting in 2020. For its effort, the tribe will be paid $38 million dollars."
"Then came the referendum in 2019, when more than 60% of voters approved the plan to seek federal legislation to lease water. The tribes’ leaders said the result showed they have a mandate to move toward a goal of making available up to 150,000 acre-feet of water per year for off-reservation use, while rotating the fallowed lands and keeping other farmland in production."
A few sources:
With Water Leasing Vote, Colorado River Indian Tribes Will Seek Consequential Legal Change - Circle of Blue
The Colorado River Indian Tribes want to lease some of their water (azcentral.com)
Colorado River Indian Tribes Offer Large Supply of Water to Arizona’s Drought Contingency Plan | News | parkerpioneer.net
I understand that CRIT is helping other states in their efforts to share and conserve water and at the same time being well paid for it along with federal grants as well to maintain canals.
So with a nice revenue stream how does a Bankruptcy happen ?
"Tribes, in general, are powerful players in the Colorado River basin, holding approximately 20 percent of the water rights, some 2.9 million acre-feet. In interior Arizona and in other states they have negotiated lease deals that secure long-term water availability for cities while bringing in revenue for the tribe."
"CRIT pledged to fallow farmland and leave 50,000 acre-feet per year in Lake Mead for three years, starting in 2020. For its effort, the tribe will be paid $38 million dollars."
"Then came the referendum in 2019, when more than 60% of voters approved the plan to seek federal legislation to lease water. The tribes’ leaders said the result showed they have a mandate to move toward a goal of making available up to 150,000 acre-feet of water per year for off-reservation use, while rotating the fallowed lands and keeping other farmland in production."
A few sources:
With Water Leasing Vote, Colorado River Indian Tribes Will Seek Consequential Legal Change - Circle of Blue
The Colorado River Indian Tribes want to lease some of their water (azcentral.com)
Colorado River Indian Tribes Offer Large Supply of Water to Arizona’s Drought Contingency Plan | News | parkerpioneer.net
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