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Steamboat Springs — City Councilman Steve Ivancie took the words right out of our mouths recently when he said a city water dedication policy "should be as airtight as possible."

In the world of water law, where the clock is always ticking and water rights are valued by seniority, there is little room for policy loopholes or trial and error. Water is nothing less than the lifeblood of the Yampa Valley. With so many eyes on the Yampa River, from Shell Oil to thirsty Front Range water districts, securing and developing local water resources is crucial for the region's long-term vitality.

Now is a very appropriate time for the city of Steamboat Springs to pursue and adopt a water dedication policy. Such a policy would require developers of annexations to bring water resources - such as water rights tied to the land or bought elsewhere, or money for development of water infrastructure - to the table.

City officials, developers and residents also are discussing whether the policy should allow public benefits, such as dedication of open space, in lieu of water resources.

Exactly what the policy should require is the central point of the water dedication debate and the source of Ivancie's justifiable fears of loopholes.

Ivancie argued recently that City Council should not have authority to accept other considerations in lieu of water rights. When the councilman used the word "airtight," his implication was that a water dedication policy should focus primarily, if not exclusively, on requiring water rights rather than other resources.

We again agree with Ivancie on one point - the city should not allow public benefits unrelated to water to fill the requirements of a water dedication policy.

But it would be wrong to focus too strictly on water rights when the city has ample resources it can develop to meet future demands.

Steamboat Springs has enough water to serve the community for decades to come, according to the recently adopted Steamboat Water Supply Master Plan. The city therefore would be prudent to allow a water dedication policy to acquire funds for developing the city's resources, including water rights on the Elk River and in Stagecoach Reservoir.

Also, strictly requiring developers to pursue water rights for every proposed annexation could indeed, as some have cautioned, create a water market in the Yampa Valley that would threaten agricultural land - the largest source of senior water rights in the area.

One only has to glance at disappearing farmlands on the Front Range to see the potential impacts of an active water market and rapidly growing communities.

Boulder lawyer Fritz Holleman, the city's water attorney with the Boulder firm Porzak, Browning & Bushong, is working on a draft policy for City Council, which could next address the issue in April.

At this early stage in the discussion, we encourage city officials and Holleman to create a strong, clear policy that secures our water future and, most importantly, does not spawn the confusion and second-guessing that is stalling other city policy discussions, such as affordable housing.

There's no time for that - the water clock is always ticking.