With any chance the Legislature might authorize a state university to acquire the College of Santa Fe campus shrinking, state officials are already considering other ways to buy the campus.

Secretary of General Services Arturo Jaramillo visited the campus last week to look at buildings and the property, said General Services spokesman Alex Cuellar. Unlike state colleges or universities, the General Services Department does not need legislative approval to buy the land.

"We're always looking at potential properties for projects," Cuellar said, adding that the state owns property adjacent to the college. The West Capitol Complex off of Cerrillos Road is southwest of the campus.

Cuellar stressed that any discussions about buying the property and buildings are preliminary, but that the state does have a need for additional office space. He said General Services wouldn't be the only agency with input of how to use the campus if the state buys it.

If the state does buy the property and later decides it doesn't need all the buildings, Cuellar said, then a state university could possibly use them.

Currently, he said, there are no state-owned facilities used by a state university or college.

Among those interested in the campus and its facilities is the New Mexico School for the Arts, a public charter school scheduled to open in the fall of 2010. Because the school plans to board students, the college's existing dorms and other facilities would fit the school's needs.

"Regardless of the outcome of House Bill 577, the New Mexico School for the Arts is still pursuing various options for the home site of the school, and that includes the College of Santa Fe campus," said J.D. Bullington, a representative for the charter school. "We would be willing to work with any entity that assumes ownership of that property."

Of course, for the state to even get a chance to buy the property, current legislation must fail and the property owners would have to agree to sell it.

The college has already defaulted in paying $25 million in bonds. The college mortgaged about 75 acres of its 100-acre campus for those bonds and could be foreclosed on at any moment.

If that were to occur, Radian Group, the company that insured the bonds, would presumably sell its share of the property and facilities to recoup its losses. That's when the state could buy the property.

Considering the location of the campus — it sits near the intersection of St. Michael's Drive and Cerrillos Road — the state could face competition from other potential buyers.

House Bill 577, which would authorize a state university to buy the campus, has passed the House but has stalled in the Senate Finance Committee. Santa Fe Mayor David Coss and College of Santa Fe students will rally this morning to ask the committee to hear the bill.

Gov. Bill Richardson, who supports the acquisition of the campus to create a state school, said Thursday that he's met with every member of Senate Finance in an effort to get HB577 through.

"Our objective will be to get the takeover bill passed," the governor said. "Should that not happen, I'm not giving up. I want to keep that college alive. We'll look at other ways that we can keep it going."

The chairman of the Senate Finance Committee, Sen. John Arthur Smith, D-Deming, says the state can't afford another four-year college at a time when state finances could further deteriorate and remain weak for a year or more.

Smith led the opposition to restoring $3 million for college operations in a state budget bill. The proposed money, which had been approved by the House, was rejected by the Senate on a 28-11 vote.

"There are a multitude of initiatives that we'd all love to have, but the fact is this is not the time that we can afford them," Smith said shortly before midnight Wednesday during debate on the budget.

Supporters say the college provides a significant economic boost to Santa Fe and the city needs to keep the four-year college. Currently, Santa Fe has a public-financed two-year community college.

The College of Santa Fe has about $35 million in long-term debt, and, Richardson said, "My concern is that if we don't pass the takeover bill there may be movement toward bankruptcy."

New Mexican reporter Kate Nash and The Associated Press contributed to this story.

Contact John Sena at 986-3079 or jsena@sfnewmexican.com.