Western Sierra Resource Corporation owns a permitted 4800 acre-feet of Water Rights and Infrastructure, 4033 acre-feet of which were previously adjudicated for a range of “beneficial use” projects under Colorado Water Law. These approved project categories include Agriculture; Residential, Commercial and Light Industrial Development; Storage; Recreation; and Maintenance of Wildlife Habitat.
The Company’s water assets have been independently valued according to multiple MAI Appraisals, Water Engineer’s Valuation, Water Law Attorney’s Summary of Value, other Professional and 3rd Party Sources at over $40 million USD.
The core objective of Western Sierra Resource Corporation’s Water Resource Division is to utilize its current water rights for irrigation and cultivation of industrial hemp; to process that industrial hemp for manufacture of quality construction products as an alternative to traditional building materials; and to develop a Planned Unit Development (PUD) and build affordable, efficient, and “green” residences to help meet the existing pent-up and continually increasing demand for quality workforce housing. Affordable Residential Development at scale is made possible by only by the responsible utilization of the Company’s water assets and infrastructure to the benefit of community and for the Company’s shareholders through “beneficial use” under Colorado Water Law.
Each of these “beneficial use” categories represent opportunities to produce revenue and increase value of land through a vertically integrated approach to agriculture, processing, manufacturing, and residential development as a “highest and best use” of what has typically been non-irrigated property. 44+ acres of Commercial/Industrial land has been acquired at a cost of $1,400,000. An additional 830+ acres of residential and agricultural land is now under “hard” contract pending closing to expand both the residential and agricultural development phases.
WSRC’s water assets have been servicing 3 rural residential subdivisions and associated agricultural production (encompassing approximately 1,340 total acres) for over ten years. This water has been a historical source of potable domestic water for residential use; water for livestock maintenance and crop irrigation; and water storage (lake and ponds) for recreation and wildlife habitat. WSRC’s infrastructure includes artesian wells ranging from 1300 to 3000 feet in depth, plus delivery and storage infrastructure – including approximately 8 miles of redundant underground 8” and 4” high pressure pipelines; as well as both underground and above-ground storage.
Water rights, as is typical with other forms of real property, become more valuable over time and with use—especially given diminishing supplies and increasing demands in the Colorado River Basin States. In Colorado, water rights are considered real property, and are owned in perpetuity unless abandoned through declaration or by disuse over an extended period of years.
Land parcels are available in the immediate service area of WSRC’s existing water assets and infrastructure in denominations of thousands of acres – much of which has been available for purchase at “dry land” prices averaging $1,000 to $1500 per acre.
Beneficial Use Projects utilizing Western Sierra’s existing water rights, delivery, and storage systems include, but are not limited to large-scale organic hay and alfalfa production; industrial hemp cultivation; organic greenhouse production; and workforce housing – for which there is a historical and established demand in the region. Placing irrigated land into production for these purposes creates three positive results: 1) production of readily marketable product at established pricing and favorable yields; and 2) irrigated acreage enables WSRC to segue (in collaboration with Global Hemp Group, Inc.) into the burgeoning opportunities such as industrial hemp suitable for the manufacture of building products, textiles, and literally hundreds of other products at much higher net revenue than is possible by production of more traditional crops; and 3) the opportunity for the Company to help provide sustainable, good paying jobs in manufacturing, development, and construction of affordable homes to help service a resort community where the housing shortage has been a critical issue for decades.