Campbell Ranch (Current)
In 2009 Vidler began working with a land developer to identify a water source to be used in a new planned residential and commercial development. The project is being developed in a partnership in which Vidler owns 95% of the developed and permitted water rights for the project which is located approximately 25 miles from Albuquerque. Our modeling of unit types and typical water allocations supports our application (filed in 2009) with the Office of the State Engineer of New Mexico for 717 acre-feet of groundwater.
In November 2014 we received notice from the Office of the State Engineer denying our application. Also in November 2014 we filed an appeal of the denial with the District Court in Bernalillo County and we are currently in the appeal process. While we believe that the data and science provided in our hearing supports our application for 717 acre-feet of groundwater, no assurances can be provided that we will prevail on appeal and receive any water rights.
Middle Rio Grande Basin (Current)
In 2012, Vidler acquired 20 acre-feet of municipal water rights in the City of Santa Fe. These water rights were banked in the City of Santa Fe’s Buckman Wells and can be used to support new development within the City of Santa Fe. We subsequently sold these water rights in 2013. In January 2015 we acquired approximately 115 acre-feet of municipal water rights in the City of Santa Fe which are also banked in the Buckman Wells.
Lower Rio Grande Basin (Current)
In 2012, Vidler acquired an existing water right for 600 acre-feet of agricultural water rights in the Lower Rio Grande basin, in the City of Las Cruces (Dona Ana County). During 2013 and 2014 we acquired an additional 661 acre-feet of agricultural water rights in the Lower Rio Grande Basin. We have entered into agreements to lease a portion of our water rights to area farmers and believe that over time this water will be used to support new growth and development in southern New Mexico.