Sen. Chris Romer, D-Denver, said Monday the state should sell off up to $200 million worth of loans held by the Colorado Water Conservation Board to help plug budget holes.
Romer said that in the current budget year, the state could easily sell up to $80 million in loans to buyers looking for solid investments. He argued that there are no large water projects planned anytime soon and that the money from the sale of the loans could be used to offset cuts to public schools and colleges.
Travis Smith, chairman of the water-conservation board, said selling off the loan assets would severely limit the agency’s ability to make loans.
“The loan program is the benchmark for all of CWCB’s efforts,” said Smith, who is also the superintendent of the San Luis Valley Irrigation District. “You have to have cash on hand to make loans. It (Romer’s plan) is just bad business, in my opinion.” Tim Hoover, The Denver Post
