WAM — Simplified Water Access for Prescott Valley

WHO

Water Asset Management (WAM), LLC, is a New York-based private equity group that focuses on water-related investments worldwide. A key business focus is the western United States, where the diminishing supply makes water markets particularly active.

The principles of WAM and its affiliate, Water Resources Group, LLC, have decades of water resources and water marketing experience. This experience has lead to close partnerships with communities in states throughout the west — including Arizona. We leverage our expertise in these communities by helping them manage access to one of their most valuable and dwindling resources.

Now that the ink has dried on the auction documents, WAM is open for business and looks forward to making your quest for water in Prescott Valley a smooth and seamless process. We are dedicated to being a beneficial partner to the community by making water available for continued growth and development.

WHY

In October 2007, the Town of Prescott Valley sold 1,103 acre-feet of effluent water to Water Asset Management, with the option to purchase an additional 1,621 acre-feet that may be made available in the next few years. During an unprecedented, two-day auction, the rights to this water — the only available to meet the demands for new growth in Prescott Valley — was up for grabs to the highest bidder and attracted both local and national interests through the use of a unique price-floor bid process.

By offering these water rights via auction, the town encouraged a competitive-market outcome and was able to generate an additional $14 million in revenue once this public-private partnership was finalized.