On May 28th the Board of Directors of the Loveland-Berthoud Association of REALTORS voted to oppose Ballot Question 1, which will be considered by Loveland voters in the June 24 special election. The question asks voters to approve a two-year moratorium on hydraulic fracturing.
The Board adopted this position based on the following arguments:
It is counter to the beliefs of the Loveland-Berthoud Association of REALTORS to support any proposition that would impact a right under the law — be it a property right, mineral right or water right. According to Colorado law mineral rights are considered the dominant estate, meaning they take precedence over other rights associated with the property.1
There are no fracking operations underway in Loveland at this time, with very few opportunities for drilling in the future. Many of the statements made by Protect Our Loveland have no factual basis and are simply allegations. There is no data that indicates fracking is harmful to human health, the environment or property values.
Finally, the Loveland-Berthoud Association of REALTORS supports good public policy. Asking the electorate to make decisions that should belong to the City Council is wrong. The Loveland-Berthoud Association of Realtors® trusts the City Council to make such decisions after careful and thoughtful review.
1http://www.blm.gov/wo/st/en/prog/energy/oil_and_gas/best_management_practices/split_estate.html
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