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Unfortunately, the initial returns of the $4.5 million Water Fund have been slightly soggy.
The commission was seeking about $300 million from the state's Clean Water Fund.
The situation prompted Fitch Ratings to downgrade the credit worthiness of the city's water fund a year ago.
To switch to a recycled water system, Mr. Butler was helped by a Smart Water Fund government grant.
Over lunch at a local restaurant, he suggested that the water fund might borrow against future revenues to scale up the planting more quickly.
For the past three years, the sugar growers contributed to a water fund that paid hilltop farmers to return parts of their land to forest.
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How are projects such as Working for Woodlands and Working for Water funded?
The Nature Conservancy runs Water Funds, a program that invites water agencies and businesses to contribute money for watershed conservation.
"At the global level, investors have responded to the threat of water scarcity by investing in specialist water funds," the site notes.
"The intention is probably to support access but the problem is that instead of investing in access, they are actually investing in the private water funds that essentially are furthering 'commodification'".
Water funds are flexible and adaptable.
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