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Colorado - Wed. 11/04/26 |
A Free Business Publication from Alpine Bank
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DEMOCRATS TAKE CONGRESS
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Democrats have taken control of the Senate and House as a blue wave surged across the country. The party flipped Senate seats in Maine, Iowa, Kansas, Ohio, Texas, South Carolina and North Carolina and numerous seats in the House.
- Michigan: Democrat Abdul El-Sayed defeated his Republican opponent Mike Rogers in a hotly contested Senate race, a victory that will make him the nation’s first Muslim senator. It’s the latest in a night of historic firsts.
- Maine: GOP Maine Sen. Susan Collins lost to Democrat Troy Jackson, a defeat that will end her five-term run in the Senate.
- Texas: Democrat James Talarico clinched victory in a key Senate race over Republican state Attorney General Ken Paxton, and Democrat Gina Hinojosa secured victory over three-term Texas Gov. Greg Abbott.
- More Democratic Senate flips in Kansas, South Carolina and Ohio: In Kansas, Adam Hamilton defeated incumbent Sen. Roger Marshall. South Carolina GOP Sen. Darline Graham lost to Democrat Annie Andrews. And in Ohio, Sherrod Brown will return to the Senate after ousting GOP Sen. Jon Husted.
- Governor mansions turn blue: Democratic candidates won races for governor in Ohio, Iowa, Georgia and Texas.
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COLORADO ELECTION BREAKDOWN
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While some races are still too close to call, here’s a look at how Colorado candidates and ballot measures performed in Tuesday’s election.
- Colorado Governor: Philip J. Weiser will be the next governor of Colorado
- U.S. Senate: U.S. Sen. John Hickenlooper has won a second term
- Colorado attorney general: Democrat Jena Griswold has prevailed over her Republican opponent, Michael Allen, in the race to be Colorado’s next attorney general.
- Colorado secretary of state and state treasurer: Amanda Gonzalez, the Democratic clerk and recorder of Jefferson County, won the election to be Colorado’s next secretary of state. Jeff Bridges will be the state’s new treasurer.
- U.S. House Districts 1, 3 and 4: U.S. Reps. Lauren Boebert and Jeff Hurd faced tight races, and both trailed their Democratic challengers Tuesday. Democratic socialist Melat Kiros will be Denver’s new representative in the House.
- Colorado's 8th Congressional District: Democrat Manny Rutinel took down Republican opponent Gabe Evans on Tuesday night, as the months-long battle for Colorado’s competitive 8th Congressional District came to an end.
- Colorado's 5th Congressional District: Democratic candidate Jessica Killin is leading incumbent U.S. Rep. Jeff Crank in the race for Colorado’s 5th Congressional District, representing the Colorado Springs area.
- Denver City Council at-large special election: Melissa Mejía declared victory in Denver’s special election for an at-large City Council seat Tuesday night.
- For amendment results, visit the link below.
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CITY PARK BANDSTAND PROJECT HITS MILESTONE AS AGENCIES SPEED RECONSTRUCTION
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City officials and supporters of the effort to rebuild the City Park bandstand will gather Nov. 8, to ceremonially sign a new beam that will be installed in the bandstand’s roof, with about 150 expected to add their names. The bandstand, next to City Park’s Ferril Lake, was burned in a suspected arson in the early hours of March 26. The beam-signing is a milestone because it heralds demolition of the old, structurally unsound bandstand and the beginning of a phase that will restore the structure just in time for events scheduled for summer 2027. The Nov. 8 event is the latest step in a journey that in September included a $125,000 matching donation by philanthropists Scott Miller and Tim Gill. So far, $250,000 has been raised and those funds are expected to cover the insurance deductible for the reconstruction effort.
The overall rebuilding cost may land at around $1 million, officials have said, including permits, demolition, design fees and other costs. The 3 to 5 p.m. event on Nov. 8 will include remarks from Jolon Clark, executive director of Denver Parks & Recreation; Denver Park Trust leader Row; Drew McMahan of City Park and others, with information tables on hand and leaders available to answer questions. The redesigned bandstand will include a ramp that meets Americans with Disabilities Act access standards, as well as a dedicated electrical system for power-hungry performances and events, and other improvements.
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WHY A COLORADO SUPREME COURT CASE COULD HAVE FAR-REACHING CONSEQUENCES ON THE WESTERN SLOPE
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After two years and two dismissals by lower courts, the Colorado Supreme Court has agreed to hear a lawsuit challenging the legality of short-term rental fees in Breckenridge. The Colorado Supreme Court made the announcement on Oct. 19, resurfacing two legal questions challenging whether regulatory fees imposed by the town of Breckenridge on short-term rentals violate the Colorado Taxpayer’s Bill of Rights. The Breckenridge Town Council established the fee in 2021, creating an annual per-bedroom charge on short-term rentals that has risen to $756 as of 2026. The ordinance stated revenue from the short-term rental fee would be directed toward municipal housing programs. Alexander Dorotik, an attorney who founded Denver-based Ingenuity Law Colorado and owns a short-term rental property in Breckenridge, claims the fee violates state fiscal policy by essentially functioning like an unconstitutional tax, which would require voter approval under TABOR.
Dorotik filed a lawsuit in Summit County District Court in September 2024, claiming the $756 charge does not meet the classifications of a fee because the revenue generated through sales and taxes on lodging, retail and food-related purchases already exceed the costs created by short-term rentals. Dorotik said the lower courts dismissed his case because of the Colorado Supreme Court’s 2018 ruling in Colorado Union of Taxpayers Foundation v. City of Aspen, which upheld Aspen’s $0.20 paper bag charge as a regulatory fee rather than a tax requiring voter approval. Dorotik’s appeal argues that the fee is meant to address the distribution and impacts of single-use bags, not shopping itself (which generates tax revenue), challenging the court of appeals’ interpretation. The Supreme Court also agreed to review the appeals court’s interpretation of the 2018 Aspen ruling.
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GOV. JARED POLIS' INITIAL BUDGET PROPOSAL SPENDS $579 MILLION MORE
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Gov. Jared Polis on Monday unveiled his eighth and final proposed state budget, which will outline priorities for the 2027-28 fiscal year, though the spending plan is expected to change significantly before it is finalized. State law requires the governor to submit a balanced budget proposal for the upcoming fiscal year by about Nov. 1. While Monday’s proposal serves as the starting point for the budget process, it is far from the finished product. Polis will release an updated budget proposal on Jan. 2, 2027. Final decisions, however, will fall to the legislature and the governor elected to succeed him. The 2027-28 budget as proposed by Polis is $51.2 billion, about $579 million more than the 2026-27 budget.
General fund dollars, one of three sources of funds for the budget and the money that is the most discretionary, make up $18.9 billion, which is $479 million more than the 2026-27 budget. At $580 million, the largest increase is for caseload, which can be for Medicaid or corrections, for example. Of that amount, the increase in general funds is $498 million. The governor will present his budget proposal to the Joint Budget Committee on Nov. 12.
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PERMIT APPLICATION FOR CHRISTMAS TREE CUT AT STATE PARK OPENS
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The permit application window for Golden Gate Canyon State Park’s tree cut permits opened on Nov. 1 and will be open until Nov. 15. Applicants can enter the lottery system for a $35 permit at the CPW Shop website. Click on the “Visit a Park – Special Events — Christmas Tree Draw” tab. There will be 250 lottery winners, who will be notified of their winning after Nov. 15. Credit cards will only be charged if the applicant’s permit is drawn. The tree cut will take place on Saturday, Dec. 5, from 9 a.m. to 3 p.m. in the area from the Nott Creek trailhead. Only hand tools are allowed, and trees have to be carried back to a vehicle. Any tree species may be cut down. The visitor center is hosting a celebration with hot drinks, food, pictures with Santa Claus, ornament decorating and a sale on all retail items. Visitors must have a state parks pass to participate.
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SNOWMASS TOURISM, ACRA RECEIVE $48K GRANT
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Snowmass Tourism, in partnership with Aspen Chamber Resort Association, has been awarded a $48,000 tourism marketing grant from the Colorado Tourism Office to fund the development of photo and video assets to promote accessible tourism. Wheel the World, a San Francisco-based travel agency focused on providing accessible tourism to people with disabilities, will work with Snowmass Tourism and ACRA to produce a library of video and photography assets that depict “accessible tourism experiences across Snowmass Village and Aspen.” Both communities earned the “Wheel the World Accessibility Verified” designation in May. The status offers “real accessibility information for travelers with disabilities and seniors,” according to their website.
The recent grant will enhance the work both Aspen and Snowmass have done within their respective Destination Management Plans to promote accessible travel in the region. This will be the first winter-specific project that Wheel the World has partnered on. More information on Aspen’s accessibility efforts can be found at aspenchamber.org/accessibility/aspen-accessibility, and Snowmass’ accessibility information at gosnowmass.com/about-us/accessibility.
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ASPEN FAMILY OF FOUR, NANNY, DIE IN FLORIDA PLANE CRASH
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A family of four who moved to Aspen in January were killed aboard Sunday’s plane crash near Palm Beach, Florida. Helen Sharp and her husband Adam Robinson died in the crash along with their two children, Emma and Charlie, their nanny, two friends and a dog when the Learjet 60 plummeted to the ground. Sharp and Robinson lived full-time in Aspen’s Mountain Valley neighborhood. A total of nine people were killed in the crash, including two crew members. The families of the deceased passengers confirmed in a statement on social media the deaths of Sharp, Robinson and their children, along with friends Rachel Reed and Charmi Fehr of Austin, Texas, and Anita Maria Cetina, the family’s nanny who was from Glenwood Springs.
The jet, operated by on-demand charter company Aurora Aviation, was flying from Austin-Bergstorm International Airport in Texas to North Eleuthera Airport in the Bahamas when it encountered a thunderstorm, according to National Transportation Safety Board officials. The Learjet 60 crashed around 12:50 p.m. on Sunday in Greenacres, Florida, near a strip mall and a mobile home park.
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EVACUATION ORDER ISSUED FOR MORE HOMES IN THE ANIMAS VALLEY
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La Plata County issued an evacuation order Tuesday for additional homes in the Animas Valley north of Durango. The notices included residences north of Hermosa Meadows Road on the east side of U.S. Highway 550 and west of the Animas River, as well as Animas Valley Elementary School in the south end of the evacuation zone. An emergency shelter was set up at the La Plata County Fairgrounds. Highway 550 remained open as of 1 p.m. Tuesday, but a couple of locations had about a foot of water, including near Trimble Lane (County Road 252). Voters unable to vote because of evacuations, road closures, or other flood-related emergencies were advised to contact the La Plata County Elections Office at 970-382-6296 or elections@lpcgov.org.
La Plata County has flood information and updates at lpcgov.org/flood. La Plata County and the city of Durango were developing a debris management plan. Until the plan is finalized, residents should keep debris on their property. “Do not place debris on city streets or county roads, and do not take debris to the La Plata County Fairgrounds,” a county news release said.
La Plata County Public Health advises residents to discard any food that:
- Came into contact with floodwater or stormwater.
- Was not kept properly refrigerated during a power outage.
- Has an unusual odor, color, or texture.
- “Food can be unsafe even when it looks, smells and tastes normal,” the release said. “When in doubt, throw it out.”
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BLUFF EXPECTING RISING RIVER LEVELS TO CAUSE MORE FLOODING
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The Town of Bluff is again expecting flooding as rain continues pouring down in southern Utah, raising water levels in the San Juan River. According to the Town of Bluff, river levels dropped roughly 12 inches overnight as volunteers monitored. “This is encouraging news and suggests the river is once again behaving as predicted by upstream gauges,” the town said. “Yesterday’s local rainfall created additional uncertainty because we could not accurately measure how much water was entering the river from local drainages.” However, rain showers are expected to hit early Wednesday, with river levels hitting a peak of 23.5 feet by Thursday morning. The town is warning that the forecast calls for a peak flow of approximately 30,000 cubic feet per second late Wednesday morning.
Homes and businesses that were flooded on Oct. 25 will likely flood again. Now that the floodplain is completely saturated, the way the river is behaving could change. The Town of Bluff says officials are monitoring conditions closely and are prepared to respond if water rises higher than expected. Residents in flood-prone areas are encouraged to remain alert and prepared, and to have a 72-hour bag ready. Officials say that if you live in a flood-prone area or are in a low-lying area, you should get to higher ground immediately. Additionally, you should avoid floodwater. BeReady Utah says, “It only takes 6 inches of moving water to knock you off your feet.”
- You should never attempt to drive into flooded roadways, as water can be deeper than it appears and it can hide hazards, such as sharp objects, washed-out road surfaces, electrical wires, and other chemicals.
- Additionally, 12 inches of water can float a car or small SUV, and 18 inches can carry away large vehicles.
- After a flood, you should still be aware of possible hazards, including residual standing water and potential water contamination. You should also adhere to local road closures and avoid disaster areas, as it can hinder emergency response.
Learn more about flood preparation and recovery at beready.utah.gov.
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FLOODED SOUTHEASTERN UTAH BRACES FOR A POSSIBLE NEW THREAT
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A critical power structure near Bluff appears to be sinking after floods have inundated southeast Utah over the past week. Now, as the area braces for another rise in the San Juan River, Bluff Mayor Josh Ewing is worried that a new surge could cause the damaged power pole to collapse. If it does, he said, hundreds of families in Navajo Nation communities to the south could lose power and Bluff could lose cell service for “a very long time.” Rains roared down washes in southeast Utah on Sunday and Monday, flooding Bluff’s post office and fire station, eroding dirt roads across the Navajo Nation and flooding homes and businesses, just as recovery was beginning for communities last week. On Wednesday, the San Juan River will likely rise again near Bluff, according to the latest forecast, as the rain that dumped upstream finally reaches southeast Utah. That could reflood areas such as the Atcitty Camp, which was devastated by the previous surge in the river.
“Everyone’s just still on full alert, but I can tell everyone’s tired,” said Krieg Benally, a Bluff resident whose aunt’s home was devastated by the floods. Record rain in the region has produced waves of floods in the San Juan River and creeks, streams and washes across Utah’s typically dry San Juan County, prompting the county to declare a local emergency Sunday. If the damaged power pole goes down on Wednesday or in a later surge, Bluff would also lose some internet access. Losing cell service would complicate emergency response efforts, as most residents receive alerts and evacuation notices through their phone. Radio communication is also limited due to the towering red rock cliffs that surround Bluff.
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MARKET UPDATE - 11/03/2026 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 10/29/2026)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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