An Arkansas Valley water and land company has left Colorado on the hook for nearly $1.4 million in delinquent loan payments and emergency dam repair bills, and may face a rare foreclosure proceeding by the Colorado Water Conservation Board.
At issue are two state deals, including a loan from the CWCB that has a remaining balance of $622,000 and an unpaid bill involving the Division of Water Resources and the CWCB’s emergency dam repair fund that has a remaining balance of nearly $750,000, according to the state.
Two Rivers Water & Farming Company, which has a history of chronic late payments, this year failed to make any payments on the $622,000 loan and has missed several payments on the emergency dam repair bill, according to the CWCB.
Greg Harrington, Two Rivers’ chief executive officer, did not respond to requests for comment.
In a letter to shareholders late last summer Harrington