THE PENINSULA ON LAKE GRANBURY
BOARD of DIRECTORS
Sunday we received an email from Jade Work, on behalf of Caris, stating they are no longer interested in our water rights and they plan to "move on with their other options”. The Board has been informed has part of our request to use the most up to date email distribution.
Not putting our water rights in a common basket created problems that were ultimately insurmountable. For example, the TECQ has clarified it is the owner of the rights (each of us individually) not the lessee (Caris), that must file the change of diversion point and the change of acreage applications. Consequently, it would be the individual owners who would have to deal with any protest or litigation resulting from the applications. The TCEQ has told us to expect up to 300 days to resolve any litigation. This burden would have been no different if we would have pursued the scenario of members leasing to the HOA and the HOA subleasing to Caris.
The team is exploring another opportunity that may offer a way to protect against losing our water rights due to non-usage. This opportunity was identified late last week so there is some more digging before we are prepared to present it to the membership.
The Water Rights Team