filed under: Water Issues posted on June 29th, 2012
If you are buying a house, condo or especially vacant land on the Monterey Peninsula, you must learn about the water credit issue first as it will guide you with your plans.
There are issues in the legal system and political arenas that have yet to play out in the determination of how local residents will be affected by the water credit issue. In Pebble Beach, remodeling or building that will require currently “unused water credits” or those water credits to be purchased, could be stopped by the end of 2016 if there is not an acceptable alternative source of water created.
If your project is near term, you can still buy water credits and use them now, assuming there is no new enforcement action by the State Water Control Board.Thus, the quicker you use already purchased or soon to be purchased water credits, the safer you are in avoiding a possible enforcement of State CDO. Such potential scenarios that would result in not being able to use purchased water credits would be beyond the control of the Pebble Beach Company, Monterey Water Management District and Cal Am’s authority.
Outside Pebble Beach, you cannot purchase additional water credits for expanded use. Understanding your water credit options as a real estate buyer is an important part of your purchase decision. Call or Email me for a better understanding of this evolving issue.