•Unique in that they can be used anywhere within an Active Management Area (“AMA”)
•There are 5 AMA’s in Arizona: Prescott, Phoenix, Pinal, Tucson and Santa Cruz
•Type 2 owners possess a number of acre feet that can be leased or sold annually for non-irrigation water uses such as mining, industrial, etc.
•Demand and pricing varies among AMA’s but value of these water rights has increased and is most likely to continue to appreciate