[WSBARP] HOA Purchase of Well Easement

[John M. Riley III]

The largest component of value is the water right, if a significant right is being purchased. I am not familiar with purchase of an exempt water right (recognizing that whole process is now very complicated after the Hirst case) so am curious about how that right is valued in light of Hirst.  Therefore,  I would appreciate it if replies providing names of qualified water right appraisers would be to the list.   Paul, please contact me if it looks like you have to use an eastern Washington appraiser.

John Riley


John M. Riley III
Principal | Witherspoon * Kelley
JMR at witherspoonkelley.com<mailto:JMR at witherspoonkelley.com> | Attorney Profile <http://www.witherspoonkelley.com/john-riley-1> | vCard<http://www.witherspoonkelley.com/s/jmr.vcf>

[WK]

422 W. Riverside Ave, Ste 1100
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Paul Neumiller
Sent: Friday, July 28, 2017 2:01 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] HOA Purchase of Well Easement

I am working with a large HOA (over 200 homes) that provides water to the residences.  It needs more water and wants to approach its neighbors and ask/buy for an easement to drill a new well.  The HOA asked me for "comps" for the purchase of an easement to drill the well and everything that goes with it (wellhead and related water transmission pipes, no storage tanks.  County requires a 100 foot set back. Most neighbors have 5 to 15 acre lots if not more).  The HOA has been able to grow only by five new homes a year (based on a wait-list; in-fill for vacant lots) as restricted by the availability of water.  It will need this water for future growth.

Now, I feel that every situation is different and that the purchase of an easement is a rare enough event so there is no such thing as comps for comparable easements but I thought I'd throw the question out to the collective hive.  What say you? Any "comps" out there?

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