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said, adding that such a fund would be equipped with the criteria metrics and individual transaction elements to ac- commodate very short-term investments and long-term investments. Entsminger called the Colorado River


System Conservation Program “ground- breaking” because “for the first time you are putting money into water conserva- tion and nobody’s name gets put on that water. It just accrues to the benefit of the system in Lake Mead and Lake Powell.” It’s possible the program could be the blueprint for a broader Basin fund, although questions remain. “If [the conservation program] is successful on a relatively small scale, how are you going to scale it up? How are you going to pay for more of that?” he said. “A Basin fund that would allow for some private equity distributed to the common cause? I wouldn’t say no to that out of the box.” Ensuring that a theoretical Basin fund has the necessary criteria to ac- commodate short-term and long-term investment is an important component. “For some of the impact investments


we evaluated – for example the fire bond approach, where investors are investing in wildlife reduction but are generating water benefits as a byproduct – having a pretty small payment available from something like a watershed fund to gen- erate revenue associated with those water savings can make the difference between something that looks really attractive as an investment and something that looks essentially fundamentally risky,” Culp said. “In that case, those payments can be used to provide some sort of carry for the money that is being invested in watershed health. It doesn’t have to be that much, but a 1 percent to 2 percent return on the capital that’s being held out there at risk against some sort of future contingency can make a huge difference in whether or not you can actually undertake those kinds of at-risk investments.”


Continued on page 11


October


21-22 Tribal Water in Arizona, sponsored by Law Seminars International, Phoenix, AZ http://www.lawseminars.com/detail.php?SeminarCode=16TRIBWAZ


27-29 CWC 2016 Annual Convention, sponsored by Colorado Water Congress, Denver, CO http://www.cowatercongress.org/annual-convention.html


27-29 Annual Salinity Conference, Multi-State Salinity Coalition (MSCC), Las Vegas, NV http://events.r20.constantcontact.com/register/event?llr=74gq7vfab&oeidk=a 07eb9e6kw9b3d26888


February


4-5 Law of the Colorado River, sponsored by CLE International, Las Vegas, NV http://www.cle.com/upcoming/PDFs/LVGRIV16.pdf


9-11 Tamarisk Coalition’s 13th Annual Conference, Grand Junction, CO http://www.tamariskcoalition.org/about-us/events/2016-conference


25-26 2016 Land & Water Summit, sponsored by Xeriscape Council of New Mexico, Albuquerque, NM, http://www.xeriscapenm.com/conference/conference-registration


March


2-4 Water Education Foundation’s Lower Colorado River Tour, Las Vegas, NV http://www.watereducation.org/tour/lower-colorado-river-tour-2016


17 Water Education Foundation’s Annual Executive Briefing, Sacramento, CA http://www.watereducation.org/foundation-event/2015-executive-briefing


21 Water Resources Research Center Conference, Tucson, AZ https://wrrc.arizona.edu/feature/wrrc-conference-2016-azwaterfuture


May


19-20 Water Education Foundation’s Lower Colorado River Tour, San Diego, CA http://www.watereducation.org/tour/san-diego-tour-2016


June


4-5 33rd Annual Water Law Conference, American Bar Association, Denver, CO http://shop.americanbar.org/ebus/ABAEventsCalendar/EventDetails. aspx?productId=134956288


Contact Sue McClurg with your calendar items from July 2016 through December 2016 for inclusion in the Summer issue of River Report, smcclurg@watereducation.org 1401 21st Street, Sacramento, CA 95811


Winter 2015-2016 • River Report • Colorado River Project • 9


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