In August 2018, the city council for the City of Rio Rancho, New Mexico approved the purchase of 74.592 AF of pre-1907 Middle Rio Grande surface water rights from a private party. The city is paying $15,000/AF.
To offset its depletions caused by groundwater pumping, the City of Rio Rancho has an obligation under one of its water right permits to purchase 728 AF every five years through 2063. The city currently has sufficient water rights to meet its obligation through the accounting period of 2022-2026.
Written by Marta L. Weismann