Before it gives its land away, the Eastwood Trust asks the state if it can sell some of that land’s water.

In 1998, flooding on the Carmel River caused millions of dollars of damage to residents and businesses. In 1995, a flood took out the Highway 1 bridge.

As this last storm hit, a project to mitigate flooding on the river quietly took one more step toward fruition.

On Dec. 16, public comment closed on a draft environmental impact report for a water-rights application to the state. If approved, it will open the door to a project that will transform the landscape of the lower Carmel River into something closer to its natural form.

The water-rights petition was submitted by Clint Eastwood and his ex-wife Maggie Johnson’s Eastwood Trust, which owns an 82-acre parcel of land, known as Odello East, along the river. The land was once slated for development, but the trust has since promised it to the Big Sur Land Trust. The BSLT has plans for a floodplain restoration project that would remove a levee and create another channel for the river under Highway 1.

Before the Eastwood Trust gifts the land to BSLT, it wants assurances from the state it can sell its some of its water to recoup its investments in the land.

“[Eastwood’s] put millions of dollars into it,” says Carmel Development Company President Alan Williams, who represents the Eastwood Trust.

The water rights allow for 130 acre-feet to be pumped from its well annually, but it can only be used for irrigation. The petition sent to the state asks for that allocation to be split: 45 acre-feet would go permanently back into the river, and the other 85 acre-feet could be sold for municipal uses to existing lots of record in Carmel and Carmel Valley. Unsold water would go to California American Water for free until the state’s cease and desist order for overpumping the Carmel River is lifted.

“It’s in Eastwood’s interest to sell the water while the CDO is in effect,” says Monterey Peninsula Water Management District General Manager Dave Stoldt. “That’s when it has value.”

Both Stoldt and Williams estimate the water would sell for about $200,000 per acre foot, but neither are sure how much of it will sell. (A large house in Carmel Valley would require about 0.5 acre-feet per year, Stoldt says.)

“We have no idea what the demand will be,” Williams says. “We’ll just see what happens.”

There has been little opposition to the petition, which many see as a win-win, especially since Eastwood’s team made a recent revision.

As originally proposed, Cal Am would have pumped Eastwood’s water allocation from its own wells farther upstream. But after some expressed concern over the plan’s impact on steelhead trout, Williams says, the water will now be pumped from the Odello property closer to Carmel River mouth.

If the water-rights application is approved, Williams estimates Eastwood will transfer the land to BSLT this summer. In anticipation, BSLT Conservation Program Manager Sarah Hardgrave says, BSLT has already started planning work so the project’s environmental documents can be ready by next winter. She says BSLT and the county have raised about $13 million in grants so far, but they still need another $3 million to $5 million.