The Utah Board of Water Resources met on October 5th and approved the aptly named ‘First Water Bank of Utah’ to be established in the Vernal area. Ryan Goodrich with Ashley Valley Water & Sewer Improvement District and Keith Despain with Vernal City were present at the board meeting as the board reviewed their documentation in pursuit of starting the first water bank in the state under the parameters and requirements spelled out in Utah code. The Water Banking Act was approved by the Utah Legislature in 2020 with the stated objective to promote the following: the optimal use of the public’s water; transparency and access to water markets; temporary, flexible, and low cost water transactions between water users; and promoting Utah’s agricultural economy by providing access to water resources and income for Utah’s agricultural industry. Goodrich shared with the board that this historic moment had been nearly 2 years in the making. The water bank opens up water transactions to everyone as it provides a marketplace on the digital platform WETx where anyone can go online and see what water is available to lease or purchase. As part of the board discussion, it was stated that Vernal City is a qualified applicant for a statutory water bank and that Vernal City and the Ashley Valley Water & Sewer Improvement District are an example to look to as they have worked hand in hand through the process focused on meeting the statutory criteria laid out in the state code. While board members had questions for Goodrich and Despain, the overwhelming tone was one of being impressed and supportive of the work done to make their pursuit a reality. The Utah Board of Water Resources unanimously passed a motion to approve the ‘First Water Bank of Utah’. Further details on what it means to have a water bank approved for the Vernal area will be shared as it becomes available through Vernal City and the Ashley Valley Water & Sewer Improvement District.
