$1.6 million to do less than 1% of what is needed
There is a new EQIP program for the pernament retirement of irrigated acres. $800,000 from the Federal government, $300,000 from the Republican River NRDs, and $600,000 from the DNR. This money will be used to buy the irrigation rights from landowners on about 2,400 acres. This equals about $675 per acre for the water rights.
The market value of water is about $1,000 an acre. In other words dryland goes for an average of $800 an acre. Most irrigated land goes for more then $1,800 an acre. If you have something worth $1,000 would you agree to sell it for $675?
Apparently, the State thinks it can find people who own 2,400 acres that will agree. The only way that is likely is if the irrigated land cannot pump enough water to be worth full market value.
Water policy officials plan to spend over $1.6 million dollars on this program. What do they get in return? The State is currently 104,000 acre feet over its allocation. If all 2,400 acres are within one mile of the stream then, three years from now the State can expect to get about a 500 acre feet credit towards the 104,000 that it is currently over.