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Colorado - Fri. 02/13/26 |
A Free Business Publication from Alpine Bank
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NOTICE OF HOLIDAY CLOSURE FROM ALPINE BANK
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All Alpine Bank branches will be closed in observance of Presidents’ Day on Monday, Feb. 16, 2026. We invite you to use Alpine Online or the Alpine Mobile app for 24/7 banking access, even when we are closed. Learn more at the link below.
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TRUMP NOMINATES HOSPITALITY EXECUTIVE TO LEAD NATIONAL PARK SERVICE
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President Donald Trump has nominated Scott Socha, a hospitality executive whose company holds extensive contracts with the National Park Service, to serve as the agency’s director, according to the Associated Press. Socha is a president for parks and resorts at Delaware North, a Buffalo‑based hospitality and entertainment company that provides services in at least six national parks, including the Grand Canyon, Yellowstone and Shenandoah. His nomination follows widespread firings within the Park Service as part of the Trump administration’s efforts to sharply reduce the agency’s size, as well as controversy over the removal or planned removal of park exhibits addressing slavery, climate change and the destruction of Native American culture.
Critics accuse the administration of attempting to whitewash history, while officials say they are removing disparaging messages. Trump previously proposed cutting the Park Service’s $2.9 billion budget by more than $900 million, a move blocked by Congress, though the agency has already lost nearly a quarter of its workforce since Trump took office. The Park Service has gone more than a year without a confirmed director, and Socha’s nomination requires Senate confirmation.
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TRUMP REVOKES EPA FINDING ON GREENHOUSE GAS THREAT IN MAJOR CLIMATE SHIFT
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The Trump administration on Thursday revoked the Environmental Protection Agency’s endangerment finding, a 2009 scientific determination that carbon dioxide, methane and four other greenhouse gases pose a threat to public health and welfare. The finding, established under President Barack Obama following a 2007 Supreme Court ruling, served as the legal foundation for Clean Air Act regulations covering emissions from cars and light trucks, power plants, and oil and gas facilities.
President Donald Trump said the EPA had officially terminated the finding, calling it a historic move, while EPA Administrator Lee Zeldin said all greenhouse gas emissions standards for light, medium and heavy-duty vehicles tied to the finding have been eliminated, removing pressure on automakers to shift toward electric vehicles. Zeldin described the repeal as the largest deregulatory action in U.S. history. Environmental groups condemned the move, warning it undermines public health protections and climate policy, while former President Obama said it makes the country less safe and less able to fight climate change.
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DENVER-AREA CONSTRUCTION GIANT BEING SOLD IN DEAL WORTH OVER $2.3 BILLION
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Kodiak Building Partners, one of the Denver metro area’s largest private companies, has agreed to be acquired by Connecticut‑based QXO in a deal valued at more than $2.3 billion in cash and stock, according to an announcement Thursday. QXO, a publicly traded distributor of building products, will acquire Douglas County‑based Kodiak from private equity firm Court Square Capital Partners in a transaction expected to close in late March or early April. The purchase price includes $2 billion in cash and 13.2 million shares, valued at more than $340 million. Kodiak co‑founder and CEO Steve Swinney will continue to lead the company, and its locally led operating structure is expected to remain in place.
Founded in 2011, Kodiak is a national distributor of lumber, windows, doors, roofing and other construction products and generated about $2.4 billion in revenue last year, with roughly 40 percent coming from Florida and Texas. QXO said the acquisition supports its strategy to expand market share and grow toward $50 billion in annual revenue over the next decade.
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AURORA SELECTS FINAL SITE FOR LARGEST RESERVOIR YET IN PARK COUNTY
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Aurora has selected a site in Park County for its largest proposed reservoir as the city faces deepening drought and historically low snowpack, though officials acknowledge it could take years to fill. The planned Wild Horse Reservoir would be located southwest of Spinney Mountain Reservoir near Hartsel and would store 93,000 acre feet of water, nearly twice the capacity of Spinney. City officials said the project would allow Aurora to reroute existing water supplies to higher elevations to reduce evaporation, support its expanding recycled water program and provide an emergency reserve as droughts become more frequent.
With Aurora’s reservoirs about 60 percent full and snowpack measuring just 39.5 percent in some watersheds, officials said the reservoir could take three to eight years to fill depending on future precipitation. The $600 million plus project would rely on existing water rights from the Upper Colorado and Arkansas rivers and is expected to take several years to permit and build. Federal environmental review is underway, and the city plans to seek Park County approval next month.
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AMERICANS WITH HIGHER INCOMES ARE FALLING BEHIND ON PAYMENTS
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Financial stress is spreading beyond lower‑income households as more Americans with higher earnings fall behind on mortgage and credit‑card payments, according to a new report from the National Foundation for Credit Counseling. The average client seeking help from credit‑counseling agencies now earns about $70,000 a year and carries nearly $35,000 in unsecured debt, roughly half of annual income, compared with about $40,000 in income and $10,000 in debt before the pandemic. Rising debt‑to‑income ratios and an increase in missed payments pushed the NFCC’s financial stress gauge to its highest level since tracking began in 2018, and the group expects stress to climb further this quarter.
Separate data from the Federal Reserve Bank of New York show household debt in delinquency rose to 4.8 percent in the fourth quarter, the highest since 2017, with serious delinquencies in credit cards and auto loans near levels seen after the 2008‑09 financial crisis. Counselors say many households are increasingly relying on revolving credit to cover basic expenses, signaling growing economic fragility despite strong job growth and rising consumer spending.
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FEDERAL JUDGE ORDERS TRUMP ADMINISTRATION TO KEEP PAYING COLORADO PUBLIC HEALTH GRANTS
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A federal judge on Thursday ordered the Trump administration to continue paying Colorado public health grants for at least two weeks, temporarily blocking efforts to cut off funding for disease prevention and public health infrastructure. U.S. District Court Judge Manish Shah in Illinois issued a temporary restraining order after Colorado, California, Illinois and Minnesota sued to stop the U.S. Department of Health and Human Services from halting about $600 million in ongoing grants. Colorado officials said the state stood to lose about $22 million in existing funding and roughly $4 million in expected future grants. Shah found the states were likely to succeed in showing the federal government acted unlawfully and that losing the funds would cause irreparable harm.
The grants, administered through the Centers for Disease Control and Prevention, support public health infrastructure, workforce staffing, disease surveillance and prevention of HIV and other sexually transmitted infections. State health officials said they are assessing the potential impact if the funding is ultimately lost, while Attorney General Phil Weiser called the attempted cuts a lawless effort to target disfavored states.
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BONNIE RAITT, BENSON BOONE, TIM MCGRAW LINED UP FOR JAS LABOR DAY
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Jazz Aspen Snowmass has announced the headliners for the 2026 JAS Labor Day Experience, with pop breakout Benson Boone, country superstar Tim McGraw and Southern rock soul band The Red Clay Strays leading the three-day festival over Labor Day weekend in Snowmass Village. Boone, whose song “Beautiful Things” was the most streamed track in the world in 2024, will headline Friday, Sept. 4, followed by McGraw on Saturday, Sept. 5, and The Red Clay Strays closing the festival Sunday, Sept. 6. Festival organizers said all three headliners will be making their JAS Labor Day debuts, marking a first for the event. Friday’s lineup also includes Trombone Shorty and Orleans Avenue, longtime JAS collaborators who will perform ahead of Boone.
Saturday shifts the festival’s traditional country focus to the middle day, with Avery Anna opening the afternoon, followed by genre blending artist Shaboozey before McGraw’s evening set. Sunday blends blues, soul and rock, with Grammy winning guitarist Christone “Kingfish” Ingram opening the day and 13-time Grammy winner Bonnie Raitt returning to the JAS Labor Day stage for the first time since 1998 ahead of The Red Clay Strays. Limited early bird three-day general admission passes are available for $348, with prices expected to increase to $399. JAS Deck and tax-deductible Patron (VIP) three-day passes are also on sale. More information and tickets are available at jazzaspensnowmass.org.
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ASPEN INVESTS IN WORKFORCE HOUSING DOWNVALLEY
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With about 62 percent of its workforce commuting in and out of Pitkin County each day, Aspen is expanding its investment in downvalley housing options to support employees priced out of the local market. The city announced it purchased a “unit priority” in Habitat for Humanity’s L3 Conversion Project, an 88-unit development in Glenwood Springs, reserving one deed restricted unit for an Aspen worker to purchase and occupy in perpetuity. City officials said the move reflects a regional approach to housing as buildable land in Aspen becomes increasingly scarce.
The investment follows Aspen’s $3.2 million contribution last year to help residents of three mobile home parks purchase their communities, part of a $42 million deal involving multiple local governments. Council members said future downvalley investments will be considered on a case-by-case basis, while the city continues to prioritize housing within its growth boundary, including the 277-unit Lumberyard Affordable Housing Project, which officials described as one of the last large housing developments possible in Aspen.
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CITY, COUNTY URGE FEDS TO KEEP GJ URANIUM MILL TAILINGS DISPOSAL SITE OPEN
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Mesa County and the city of Grand Junction are urging federal officials to reauthorize continued operation of the Grand Junction uranium mill tailings disposal site, warning that closure would leave Western Colorado without a safe, permanent option for low level radioactive waste. The Department of Energy run site is scheduled to close at the beginning of next year unless Congress acts, despite having capacity for about 200,000 additional cubic yards of material. City officials said Grand Junction temporarily stores radioactive materials at its municipal operations center and relies on periodic access to the disposal site for permanent removal, with transportation costs reimbursed by the federal government.
Both Mesa County commissioners and Grand Junction City Council approved formal requests supporting reauthorization, citing the site’s location on impermeable Mancos Shale, its distance from residential areas and its role in protecting public health and the environment. The Colorado Department of Public Health and the Environment has also asked that the site remain open until it reaches capacity.
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HISTORY COLORADO’S CENTENNIAL FARMS & RANCHES APPLICATIONS NOW OPEN
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Applications are now open for History Colorado’s Centennial Farms & Ranches program, which honors Colorado farming and ranching families and agricultural businesses that have contributed to the state’s agriculture for 100 years or more. The statewide program, run by History Colorado and the Colorado Department of Agriculture, marks its 40th anniversary this year after being launched in 1986 by then Gov. Richard Lamm. More than 700 farms, ranches and families have been recognized, along with nine Agricultural Legacy Award recipients in recent years. Officials said the program celebrates resilience and innovation as families adapt to changing environmental, economic and agricultural conditions.
Recent honorees include the Hirakata family of Rocky Ford, Western Sugar Cooperative, the Candelaria family of Archuleta County and the Everitt family of Elbert County. Applications require eligibility verification and are due May 1, 2026. Awardees will be honored at the Colorado State Fair in August as part of celebrations marking 150 years of Colorado statehood and 250 years of American independence. For more information or to apply, visit h co.org/CentennialFarms or call 303-866 3392.
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OWNERS SEEK RIGHT BUYER TO PURCHASE ICONIC DOWNTOWN BUILDING, PIECE OF STEAMBOAT HISTORY
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The Lorenz family has listed the historic Lorenz Building in downtown Steamboat Springs for $2.595 million, saying they are seeking the right buyer to steward one of the town’s most recognizable landmarks. Built in the early 1900s and owned by the family since 1958, the red brick building at 928 Lincoln Ave. has served many roles over more than a century, including as a Masonic lodge, county courthouse, dance hall, federal offices and professional space. Today, the roughly 5,000 square foot building contains nine offices and a small apartment overlooking Lincoln Avenue and has retained much of its original appearance. Local historians say the structure is closely tied to Steamboat’s early commercial development and the J.W. Hugus mercantile empire that helped anchor the growing town.
The Lorenz Building is a contributing structure within the Steamboat Springs Downtown Historic District, listed on the National Register of Historic Places, meaning its historic character is recognized but not locally regulated. City preservation officials said the building’s history and designation are well understood by prospective buyers, as the family looks to pass the property to someone who values its place in Steamboat Springs’ past.
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COLORADO MARINA SHUTTING DOWN SUMMER BOAT RAMP, SLIPS DUE TO RECORD‑LOW SNOWPACK
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Frisco Bay Marina will close its boat ramp and slips for the 2026 summer season as extreme drought and record‑low snowpack leave water levels too low to support normal operations, marina officials told Frisco City Council this week. Staff said the decision follows guidance from Denver Water and reflects snowpack levels in Summit County and much of Colorado that are near the zero to fifth percentile, with statewide snow‑water equivalent measuring about 58 to 62 percent of the median. Without sufficient water to fill the marina basin, docks will not be installed, and the boat ramp will remain unusable, forcing changes to beach access and paddle dock placement.
Seasonal staffing will be reduced by about 17 percent because dock operations and aquatic nuisance species inspections will not be needed. Officials said under current dry‑year models, portions of the bay bottom could remain exposed throughout the summer, marking one of the most significant operational disruptions the marina has faced due to ongoing drought conditions.
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LOVELAND OPENS NEARLY ALL LIFTS AS KEYSTONE DROPS ROPES ON NEW TERRAIN
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Summit County ski areas continued to expand terrain this week as Loveland Ski Area opened nearly all of its lifts and Keystone Resort dropped ropes on several additional trails, according to a weekly terrain update from Summit Daily News. Resorts reported incremental gains following recent snowfall, with more snow in the forecast offering hope for additional openings in the coming weeks.
Loveland Ski Area
- Lift 9 opened Feb. 7, expanding access to Patrol Bowl and the Number 4 Headwall.
- Lift 8 and its associated terrain opened Feb. 10.
- Nearly all lifts are now operating, with the exception of Lift 2 at the Basin, which is closed for maintenance.
- Crews are continuing work along the ridge to bring more terrain online as conditions allow.
Keystone Resort
- Opened Easy Street, The Alley, Main Street and I 70 trails.
- Ropes were also dropped on terrain near the boardercross course on Park Lane.
- Staff continue to focus on trail maintenance and guest safety as conditions evolve.
Other Summit County Resorts
- Arapahoe Basin has Front Side terrain, select areas of The Beavers and portions of Pallavicini open, but needs a few more inches of snow to open Davis and additional Beavers terrain.
- Copper Mountain and Breckenridge Ski Resort reported they are maintaining existing terrain and are positioned to open more if upcoming snowfall materializes.
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FIVE COLORADO HOTELS RANK IN U.S. NEWS TOP 100, INCLUDING ONE IN DENVER
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Five Colorado hotels earned spots on U.S. News & World Report’s list of the 100 best hotels in the United States for 2026, one more than last year, according to rankings released this week. The Broadmoor in Colorado Springs led the state, climbing to No. 16 nationally and reclaiming the top spot in Colorado after ranking second statewide in 2025. Aspen’s The Little Nell placed No. 42 nationally, while Hotel Jerome, Auberge Collection returned to the national list at No. 71. The Four Seasons Hotel Denver debuted in the top 100 at No. 86, marking the only Denver property to make the national list, and The Madeline Hotel & Residences, Auberge Collection in Telluride ranked No. 88. U.S. News determines rankings based on awards, recognitions, star ratings and guest reviews.
Top 25 Hotels in Colorado for 2026
- The Broadmoor, Colorado Springs (No. 16 nationally)
- The Little Nell, Aspen (No. 42 nationally)
- Hotel Jerome, Auberge Collection, Aspen (No. 71 nationally)
- Four Seasons Hotel Denver, Denver (No. 86 nationally)
- Madeline Hotel & Residences, Auberge Collection, Telluride (No. 88 nationally)
- The Ritz Carlton Denver, Denver (No. 117 nationally)
- Sonnenalp, Vail (No. 158 nationally)
- The St. Regis Aspen Resort, Aspen (No. 172 nationally)
- Four Seasons Resort Vail, Vail (No. 197 nationally)
- The Crawford Hotel, Denver (No. 247 nationally)
- Viceroy Snowmass, Snowmass Village (No. 272 nationally)
- Limelight Hotel Denver, Denver (No. 282 nationally)
- The Maven Hotel at Dairy Block, Denver (No. 298 nationally)
- Limelight Hotel Aspen, Aspen (No. 365 nationally)
- The Ritz Carlton Bachelor Gulch, Avon (No. 422 nationally)
- Hotel Polaris, Colorado Springs (No. 443 nationally)
- Park Hyatt Beaver Creek Resort and Spa, Beaver Creek (No. 524 nationally)
- Grand Hyatt Denver, Denver (Not ranked in top 525)
- Thompson Denver, Denver (Not ranked in top 525)
- Grand Hyatt Vail, Vail (Not ranked in top 525)
- St. Julien Hotel & Spa, Boulder (Not ranked in top 525)
- Hotel Clio, a Luxury Collection Hotel, Denver (Not ranked in top 525)
- The Brown Palace Hotel and Spa, Autograph Collection, Denver (Not ranked in top 525)
- Hotel Maverick, Grand Junction (Not ranked in top 525)
- The Art Hotel Denver, Curio Collection by Hilton, Denver (Not ranked in top 525)
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MARKET UPDATE - 02/12/2026 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 02/12/2026)
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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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