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Mimbres Market
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Mimbres Market

Funding: Bureau of Reclamation, USGS/SILPE, Office of State Engineer

Participants: Craig Broadbent, David Brookshire, Don Coursey, Vince Tidwell, Marissa Reno

Mimbres MarketIn response to continuing drought in New Mexico, general rules and regulations for administering Active Water Resource Management (AWRM) were finalized by the State Engineer on December 3, 2004. The objectives of these rules are to establish a framework for the State Engineer to carry out his responsibility to supervise the physical distribution of water, to protect senior water rights owners, to assure compliance with interstate stream compacts, and to prevent waste.

The objective of the proposed work is to establish a functioning water leasing market on the Mimbres River in southwestern New Mexico. What is unique about this work is the approach we take to designing and implementing the market. Specifically, a virtual water leasing market is developed in which decision makers and stakeholders can explore alternative institutional and regulatory frameworks for governing the market. This virtual environment also provides a vehicle for educating and familiarizing the stakeholder with how the market will function. In this way, the stakeholder can “try out” the market prior to any real financial or resource investment. This process of creating a virtual water market also has the advantage of engaging the stakeholder and decision maker together in the design of the market--enhancing communication and thus chances of developing a market that meets everyone’s needs.

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Copyright 2012