Gov. Lincoln Chafee announced back in September that he wouldn’t seek a second term in 2014, but he’s only starting to make a dent in repaying himself $1.61 million in personal loans to his 2010 campaign.
Chafee’s campaign account cut the governor a check for $200,000 on Dec. 2 to reimburse him for some of the personal loans he made to his gubernatorial campaign in 2009 and 2010, according to a filing Monday with the R.I. Board of Elections. That cut Chafee’s outstanding personal campaign debt to $1.41 million.
Chafee spent $2.5 million on his 2010 gubernatorial campaign, slightly less than Democrat Frank Caprio, who spent $2.7 million but came in third. Republican John Robitaille, who came in second, spent $603,833.
Chafee and his wife, Stephanie (Danforth) Chafee, are known to have a large fortune. The Chafees’ net worth was at least $38 million in 2006, according to his final U.S. Senate financial disclosure form, which at the time made Chafee the seventh-richest senator, according to the Center for Responsive Politics.
The governor didn’t raise a penny during the final fundraising quarter of last year, according to the filing. His campaign war chest stood at $164,967 on Dec. 31, down from $379,208 on Sept. 30, after the loan repayment and campaign expenses including $2,349 for holiday cards and payments to campaign consultants Amy Gabarra and William Facente.
Gabarra, a prominent Democratic fundraiser, is now raising money for Democrat Clay Pell.