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Southern Nevada Water Authority: Ranch losses spur doubts; Properties bleed money, but official points to water rights

Posted by: Aqua Blog Maven on January 23, 2010 at 5:06 am

From the Las Vegas Review-Journal:

“So far, the ranching business has not been kind to the Southern Nevada Water Authority.

During the past fiscal year, the authority lost more than $628,000 on its collection of working ranches in eastern White Pine County, and officials expect to lose at least $200,000 more this fiscal year.

That would bring the authority’s total operational losses to almost $1.47 million since the wholesale water agency spent almost $79 million to buy seven livestock operations in Spring Valley in 2006 and 2007.

Now water authority board members Steve Sisolak and Steve Kirk are calling on the agency to rein in its ranches — or at least do a better job of explaining why the bottom line isn’t the only concern in Spring Valley.

“Is there a break-even estimate, or are these things just going to lose forever?” Sisolak said Thursday after the board heard a financial update on the operations. “You can’t have a $78 million ratepayer investment and lose $600,000 a year.” … “

Read more from the Las Vegas Review-Journal by clicking here.

January 23, 2010 · Filed Under Las Vegas & Nevada

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One Response to “Southern Nevada Water Authority: Ranch losses spur doubts; Properties bleed money, but official points to water rights”

  1. The week that was, 1/17-23/2010 | Chance of Rain on January 24th, 2010 5:54 pm

    [...] money but official points to water rights,” Las Vegas Review-Journal, January 22, 2010, via Aquafornia Private developers are hoping to take a substantial amount of Lake Sakakawea water out to the oil [...]

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