It sounded like the water bank at Madera Ranch would be taking deposits immediately after the grand opening ceremonies in August. I called last week and discovered the bank still isn't operating.

The Madera Irrigation District is hoping to begin allowing excess river water to seep into the ground at the ranch next month. In dry times, the water is pumped up and used by farmers.

The district has all the permits to operate the bank, but the project has been held up by details of a conservation easement, which is required. The easement prevents any future development, such as housing, on the land.

I've been following this Madera Ranch idea since the late 1990s. This is the third attempt to get the water bank going. It's a lot cheaper and politically easier than a dam on river coming out of the Sierra Nevada. But water banking is not without a few expenses and delays.

The irrigation district bought the ranch for $37.5 million in 2005. Since then, the district has paid more than $2.5 million for environmental studies and permits.

Here's hoping the weather cooperates with the irrigation district next year. If this is a dry winter, there won't be much excess water to bank.