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Colorado - Fri. 03/24/23 |
A Free Business Publication from Alpine Bank
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ELECTRIC VEHICLES WILL MAKE UP 65 PERCENT OF NEW SALES IN THE WORLD IN 2030
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Enverus, a data analysis company for the energy industry, predicts that electric cars and light-duty trucks will make up 65 percent of new vehicle sales in the world in 2030. Global sales of EVs will reach 85 percent by 2050. Global sales of electric vehicles are being driven by Europe and China. The U.S. sales lag behind other parts of the world. However, that is not true for Colorado. Last year, battery-only and plug-in hybrids made up a record 10.5 percent of registrations in the state, up from about 6.5 percent in 2021, according to the Colorado Automobile Dealers Association. Worldwide, electric vehicles accounted for about 10 percent of new sales in 2022.
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FAIRPLAY GIVES OK TO BUILD-TO-RENT COMMUNITY
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The town of Fairplay has given approval to developers of The Bluffs of Fairplay, which has proposed building 149 rental units on a 10.72-acre site. The build-to-rent community is a development to accommodate workers from Summit County. The $38 million project will have a mix of 11 single-family homes, 48 duplexes, 28 fourplex units across seven buildings and two 30-unit apartment buildings. In addition, the development will include two management units, a commercial pad, more than 30 storage units, and as many as 55 covered parking spaces, according to the plans. Rent will be in the range of $1,000 per bedroom, or about $2.15 to $2.30 per square foot. Developers are working with Nebraska-based BonnaVilla Homes, a modular home construction company to provide low-cost construction.
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COLORADO DMV SETS UP NETWORK OF KIOSKS FOR VEHICLE REGISTRATION RENEWALS
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The Colorado Dept. of Motor Vehicles has 57 kiosks statewide as part of its Colorado MV Express network. There are five new kiosks in select Denver grocery stores, with another 19 in Adams, Arapahoe and Jefferson counties, with the rest scattered across the state. A complete list of locations is available at comvexpress.com. Kiosk vehicle registration renewal is available for automobiles, pickup trucks, motorcycles, and coaches/park trailers from the month prior to your expiration month to the last day of the month following your expiration. Items needed to renew registration include: a license plate number or renewal postcard; proof of a Colorado vehicle emissions test (if required); and proof of Colorado insurance.
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SEASON WINDING DOWN: OCCUPANCY LEVELS DOWN, WINTER FLIGHTS END IN ASPEN
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The 2022-23 ski season is winding down, even as it continues to snow, and many resorts have extended their closing dates. In Aspen and Snowmass, occupancy levels are slightly down from last season, according to the March occupancy report from Destimetrics. As of Feb. 28, the winter season, from November through April, for Aspen/Snowmass combined, was 55.5 percent, down 2.2 percent from the 57.1 percent in 2022. In that report, Aspen’s February occupancy was 77.1 percent, 2.2 percent down from a year earlier, while Snowmass was down 5 percent. This weekend, winter flight schedules are starting to wind down as the airport transitions to the spring flight schedule. Saturday, March 25 is the final day of the full winter flight schedule with up to 32 flights total. Beginning Sunday, United will drop from 21 daily flights to 11. Daily service from all five hubs, which are Denver, Chicago, Houston, Los Angeles, and San Francisco, will continue through April 2.
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MESA COUNTY TO BUILD MORE TRAILS
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Mesa County Public Health has a four-person in-house trail crew, and that crew built about 10 miles of trails at 18 Road north of Fruita last year, as well as maintaining about 50 miles of trails. The trail crew plans to build another 10 miles of new trails this year at 18 Road. During the summer, the trail crew works on deferred maintenance on National Forest trails, with this year’s work planned on the Corral Forks Trail on the Uncompahgre National Forest and the Kannah Creek Trail on the Mesa.
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THE WATER IN THE WEST SERIES IN TELLURIDE
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The Sheep Mountain Alliance, Telluride Mountain Club, Telluride Institute, Wilkinson Public library and the San Miguel Watershed Coalition will host the opening session of the Water in the West series on Tuesday, March 28, from 6 to 8 p.m. at the library. The initial session will feature Dr. Len Necefer and his presentation entitled “Exploring the Colorado River, Drought, and Tribal Water Rights Through Outdoor Recreation.” Necefer, a member of the Navajo Nation, is the CEO and founder of NativesOutdoors, a company that aims to increase representation and visibility of Indigenous people in the outdoor industry. He was a professor of American Indian Studies at the University of Arizona and also worked for the U.S. Dept. of Energy. Necefer received his PhD in engineering and public policy from Carnegie Mellon University, where he focused on the intersection of energy development and tribal sovereignty.
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EAGLE COUNTY’S “RENT LOCAL” PROGRAM IS VERY SLOW TO TAKE HOLD
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Eagle County launched its program to convert short-term rentals to long-term rentals for local workers, “Rent Local,” but the program is off to a slow start. The Rent Local program offers a cash incentive to eligible landlords to make the conversion and agrees to adjust rental rates in relation to 100 percent of the area median income. However, a recent update on the program provided to the Eagle County commissioners revealed there were just two properties in the program. The commissioners decided to continue the program. Summit County has had a similar program, called “Lease to Locals,” in place for a while now. There are 58 units in that program, and 128 people are staying in those units.
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STEAMBOAT NOW TOPS 400 INCHES OF SNOW THIS SEASON, MOST IN A DECADE
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Steamboat Resort received 18 inches of snow over three days this week and on Thursday, March 23, the season snow total at the resort hit 401.5 inches. The resort has another measuring area which had recorded 412 inches. By whichever measurement is used, the season’s snow total became the snowiest since the 2012-13 season, when the total reached 433 inches. The resort has data on mid-mountain snowfall dating back to 1980-81. Of those 42 seasons, only eight have seen 400 inches or more, meaning this is just the ninth 400-inch season in recorded history. Steamboat still has a long way to go to reach the record 489 inches recorded in the 2007-08 season.
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THE MADNESS CONTINUES, SOME TRIVIA
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The games of the Sweet 16 of the NCAA Men’s Basketball Tournament began last night and continue tonight and the Sweet 16 on the women’s side starts tonight. When did it all begin?
- The first national college tournament was the National Invitation Tournament (NIT) which began in 1938
- The first NCAA Division I men’s basketball tournament was played in 1939
- In the first tournament, Oregon beat Ohio State 46-33
- The first tournament had 8 teams
- The NCAA tournament increased to 16 in 1951
- It doubled to 32 in 1975
- It expanded to its current field of 64 in 1985
- It was in 1939 that the term “March Madness” came about, first used in reference to basketball by an Illinois high school official, Henry V. Porter
- In 1982, “March Madness” was first connected to the NCAA Tournament by Brent Musberger in his coverage of the tournament in 1982
- “One Shining Moment,” now the anthem of March Madness, was first aired following the men’s tournament in 1982
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MARKET UPDATE - 03/23/2023 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 03/23/2023)
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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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