Cline Ranch Water Rights (Completed)
In 1995, Vidler purchased a controlling interest in the water rights of a ranch in Colorado. The water rights were for approximately 520 acre-feet of agricultural water rights on a tributary stream to the South Platte River. Vidler believed the water rights could be converted to municipal and industrial water rights and eventually sold to project developers or water utilities in the greater Denver Metropolitan Area. Vidler successfully took these rights through the Denver Water Court process and sold the water rights to a water utility in 2002 for approximately $2.6 million.
Vidler Tunnel and Water Rights (Current)
In 1995, PICO acquired Vidler Water Tunnel and associated water rights on the western slope of the Colorado Rockies, which, at the time, were Vidler's core assets. The original investment thesis was to provide water to the eastern slope of the Colorado Rockies including the greater Denver area via the Vidler Water tunnel. In 2002, Vidler sold the water tunnel to the City of Golden, Colorado, and has been generating income through the sale and/or lease of its remaining water rights to users on the western slope of the Colorado Rockies. Vidler has 158 acre-feet of water rights remaining in Colorado, of which approximately 95 acre-feet are available for sale or lease and 63 acre-feet are the subject of existing long-term leases.