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Colorado - WED. 04/25/18 A Free Business Publication from Alpine Bank Print Version Print View Online Webpage
 
DENVER HOME PRICES BACK ON THE RISE
 
 
 

Home prices in the Denver metro area showed steady gains in the 7 percent range for most of 2017, but in February this year, prices accelerated above 8 percent, according to the S&P CoreLogic Case-Shiller Indices. The Denver home price index measured an 8.4 percent annual gain in February, up from a 7.6 percent increase in January and a 7.4 percent increase in December. The February pace tied with Detroit for fourth highest in the U.S. Nationally, home prices are up 6.3 percent year-over-year in February.

 
- Denver Post, 04.25.18
 
NO SWIMMING AT CHATFIELD THIS SUMMER
 
 
 

This summer the popular Chatfield State Park in Littleton will be closed for swimming because a construction project related to the increase in reservoir capacity. The infrastructure at the lake will be altered to allow a 12-foot vertical increase in water level and that infrastructure change includes the swim beach. The lake will remain open this summer for boating. The new north boat ramps were finished this spring and the ramps by the marina will be replaced this fall.

 
- Denver Post , 04.25.18
 
TREASURIES HIT 3 PERCENT, STOCKS AND BONDS PLUMMET
 
 
 

The yield on the 10-year U.S. Treasury note hit 3 percent for the first time since 2014 and investors reacted by sending stocks and bonds down. The Dow Jones Industrial Average moved wildly, covering more than 750 points from its high to its low during the trading day before ending down 424.56 points at 24024.13. That left the Dow 9.7 percent below its Jan. 26 record close. The yield on the benchmark 10-year U.S. Treasury note rose as high as 3.001 percent before settling at 2.99.

 
- Wall Street Journal, 04.25.18
 
BASALT TO SPEND HALF A MILLION TO SLOW DRIVERS IN WILLITS
 
 
 

The town of Basalt Tuesday gave unanimous approval to a contract that could reach $516,671 with United Companies of Grand Junction to construct traffic calming features on East Valley Road as it leaves Willits Town Center and enters the residential area. The project will begin in October, with completion targeted for mid-October, and include narrowing the width of the road between Valley Court and Lake Court. The plastic chicanes will be removed and new pedestrian crossings made of raised, colored concrete will be added to East Valley Road.

 
- Aspen Times, 04.25.18
 
NEARLY 500,000 COMMENTS ON BLM METHANE-RULE CHANGE
 
 
 

The U.S. Bureau of Land Management closed the comment period Monday on its proposal to roll back its 2016 rule regulating methane emissions from oil and gas development, and BLM officials said that nearly 500,000 comments were submitted. Democratic lawmakers have called on the BLM to extend its 60-day public comment period, but BLM officials say the 60-day comment period provided sufficient time for comment on the change in the methane emissions rule.

 
- GJ Daily Sentinel, 04.25.18
 
GJ LOOKING TO REZONE, SELL LAND
 
 
 

The Grand Junction Planning Commission Tuesday approved the proposal to recommend that the City Council rezone the 37-acre parcel of city-owned land adjacent to Tiara Rada Golf Course. The city is seeking to change the zoning of the parcel to allow two residential units per acre in order to sell the land, which lies just east of the Tiara Rada driving range. The area surrounding the parcel is zoned for a maximum of five dwelling units per acre. The city purchased the property in 1993 with the intent to expand the golf course.

 
- GJ Daily Sentinel, 04.25.18
 
GJ SALVATION ARMY SUFFERS ANOTHER SETBACK
 
 
 

Last month, a home used by addicts in the adult rehabilitation program of the Salvation Army in Grand Junction caught fire, forcing 16 men undergoing drug and alcohol treatment to be housed in a local hotel. On Sunday, a driver accidently rammed a vehicle into the Salvation Army's thrift store at 240 North Avenue. The store must be closed until officials can determine whether a gas line was damaged, resulting in a loss of at least $5,000.

 
- GJ Daily Sentinel, 04.25.18
 
OURAY FOOD PANTRY RELOCATES
 
 
 

After losing its lease, the Ouray Food Pantry was searching for a new location anywhere in Ouray County. The nonprofit, which is now coming into its fifth year of operation, found a location just a few blocks away in Ridgway. It is now located at 301 Hwy. 62, next to the Shell Station. The pantry is open Thursdays from 12:30-3:30 p.m. and the pantry also distributes food to seniors and other low-income residents on the first Thursday of each month. For complete information on the Ouray Food Pantry, go to: ouraycountyfoodpantry.org.

 
- Telluride Daily Planet, 04.25.18
 
ADDRESSING SAFETY CONCERNS ON HWY. 550
 
 
 

The Colorado Department of Transportation and its consulting firm, Stolfus & Associates of Greenwood Village, are continuing their study to address safety concerns on Highway 550, with a focus on a 9-mile stretch from Otter Road to the Ouray County line. CDOT held an open house in Montrose on April 19 providing an opportunity for residents to identify "danger zones" along 550 on large maps printed for the open house. Residents still have until April 30 to complete an online survey and provide comments. The survey is available at surveymonkey.com/r/us550study.

 
- Telluride Daily Planet, 04.25.18
 
SW COLORADO IS IN "EXCEPTIONAL DROUGHT"
 
 
 

Both La Plata and Montezuma counties have now been downgraded to the most intense category of the five drought conditions listed in the latest U.S. Drought Monitor, "exceptional drought." The two counties in the extreme southwestern corner of Colorado are the only counties in the state listed in an “exceptional drought.” Other areas throughout western and southern Colorado are in an “extreme drought.” A fire ban went into effect April 16 in Montezuma County.

 
- Durango Herald, 04.25.18
 
STRITIKUS NAMED PRESIDENT OF FLC
 
 
 

On Monday, the Board of Trustees of Fort Lewis College named Tom Stritikus, deputy director of K-12 Education at the Bill and Melinda Gates Foundation, as the next president of Fort Lewis College. Stritikus will take over Aug. 1 for FLC President Dene Thomas, who will delay her retirement a month until July 31 to accommodate Stritikus’ starting date. Previous to the Gates Foundation, Stritikus was dean of the College of Education at the University of Washington, where he also taught.

 
- Durango Herald, 04.25.18
 
OPEN LANDS PLAN GETS OK FROM VAIL PLANNING COMMISSION
 
 
 

The Vail Planning and Environmental Commission has given unanimous approval for recommending the new Open Lands Plan for approval by the Vail Town Council. The town council is not expected to review the Open Lands Plan recommendation for approval until June, which will allow more time for public comment. The new Open Lands Plan is an upgrade to the 1994 Open Lands Plan and looks at 24 specific parcels. The new plan draws the distinction between open lands and open space. While open space is discussed in the Open Lands Plan, the plan also identifies areas that could be developed.

 
- www.vaildaily.com, 04.25.18
 
THERE IS RUNOFF YET TO COME FOR THE YAMPA
 
 
 

Even though the snow accumulation this winter season in northwest Colorado is lower than it was last year, the peak runoff will come much later this spring. Last year, the Yampa River peaked at 2,640 cubic feet per second, but it was unusually early, March 12. The Conservation Service was reporting Tuesday that the water stored in the remaining snow in the mountains of the Yampa/White River Basin has climbed to 89 percent of median this spring. On the west side of Rabbit Ears Pass, the number is 93 percent of median. Those constitute the healthiest snowpack in the state. The average peak flow on the Yampa where it is measured at the Fifth Street Bridge is 3,070 cfs and occurs between May 19 and June 10.

 
- Steamboat Today, 04.25.18
 
WATER RESTRICTIONS GO INTO EFFECT IN STEAMBOAT
 
 
 

Water providers in Routt County, Mount Werner Water, the city of Steamboat Springs, Steamboat II Metro District and Tree Haus Metro District, will implement Stage 2 water restrictions beginning Tuesday, May 1. During Stage 2 restrictions, no outdoor watering is allowed between 10 a.m. and 6 p.m. Odd-numbered addresses can water Mondays, Thursdays and Saturdays; even-numbered addresses can water Tuesdays, Fridays and Sundays. There is no watering permitted Wednesdays. There is no vehicle washing permitted at residences. Special permits can be issued for new lawns and trees.

 
- Steamboat Today, 04.25.18
 
THE NEXT HOT CAR FOR COLLECTORS
 
 
 

Classic car insurance company Hagerty has released a list of the top current vehicles most likely to increase in value and retain long-lasting appeal to classic-car buyers. This list covers 2018 vehicles less than $100,000 that show early signs of collectability.

  • Audi RS 3 sedan
  • 2018 Jeep Grand Cherokee Trackhawk
  • Dodge Challenger SRT Demon
  • Honda Civic Type R
  • 2018 Civic Type R
  • 2018 Jeep Wrangler Rubicon
  • 2019 Jeep Wrangler
  • Kia Stinger
  • Lexus LC 500
  • Porsche 718 Cayman GTS
  • Subaru WRX STI Type RA
 
- USA TODAY, 04.24.18
 
TAX CHANGES FOR 2018
 
 
 

The IRS reminds taxpayers of big changes that apply to most individual 2018 tax returns. Initial inflation adjustments, which were released by the IRS last year, were later revised to reflect inflation as well as the changes brought by the Tax Cuts and Jobs Act. Among the adjustments that affect most taxpayers are the elimination of the personal exemption (previously $4,050 in 2017), higher standard deductions and lowered tax rates, which now top out at 37 percent (down from 39.6 percent in 2017). Here are details of other key figures that have changed: https://bit.ly/2JLujXh.

 
- Dalby, Wendland & Co., P.C., www.dalbycpa.com
 
ALPINE BANK SHRED DAY: MONTROSE BRANCHES
 
 
 

Alpine Bank invites the community to its annual on-site document shredding event on Saturday, April 28, 8 to 11 a.m. at both Montrose Alpine Bank branches. Individuals are encouraged to bring any unwanted documents that contain personal information to the Shred Day, including tax documents (seven years and older), old bank statements and medical records, canceled or blank checks, credit card statements and solicitations and personal bills. There is a maximum of five boxes of paper per person; staples or paperclips do not need to be removed. All paper will be recycled. For more information, click on the link below.

 
- Alpine Bank
 
 
 
 
 
 
 
 
MARKET UPDATE - 04/24/2018 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
24024.13
 
-424.56
 
S&P 500
 
2634.56
 
-35.73
 
NASDAQ
 
7007.35
 
-121.25
 
10-year Treasury yield
 
2.99
 
+0.01
 
Gold (CME)
 
1331.40
 
+8.90
 
Silver (CME)
 
16.69
 
+0.12
 
Oil (NY Merc)
 
67.70
 
-0.94
 
Natural Gas ($/MMBtu)
 
2.78
 
+0.04
 
Cattle (CME)
 
121.10
 
-0.62
 
Prime Rate
 
4.75
 
NC
 
Euro (per U.S. dollar)
 
0.81
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.28
 
NC
 
Mexican peso (per U.S. dollar)
 
18.86
 
-0.03
 
30-year fixed mortgage rate (Freddie Mac 04/19/2018)
 
4.47
 
+0.05
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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