Because of the uncertainty surrounding the winter rainfall, many of the details surrounding how the California water bank will work - including when the transfers would take place, how much buyers may pay for water and which districts are willing to sell - remain unclear. However, most observers agree that water prices are rising quickly. At Thursday's announcement, one official said a rice farmer may be able to sell his water for as much as $200 per acre-foot - up from $50 per acre foot not long ago (1 acre-foot of water is about 326,000 gallons and enough to cover 1 acre of land in 1 foot of water). Web Link
Can Palo Alto residents afford new large developments?