Colorado - Fri. 06/21/24 A Free Business Publication from Alpine Bank View Online View in Browser
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SU TEATRO BUYING TWO BUILDINGS ON SANTA FE TO CREATE CULTURAL CAMPUS

 
 
 
Su Teatro, at 51 the nation’s third-oldest Chicano theater company, is buying an additional building one block south of its present location in Denver, to establish “an extended cultural campus.” Su Teatro is buying the 4,400 square-foot building at 659 Santa Fe Drive from legendary music promoter Chuck Morris and his wife, Becky. The $1.8 million purchase was made possible with financial support from the Bonfils-Stanton Foundation, Colorado Creative Industries and the Colorado Health Foundation. That means the building will be paid in full upon closing, which will take place in three weeks. A deal is being crafted that will additionally allow Su Teatro to purchase a 10,000 square-foot building owned by the Morrises at 930 W. 7th Ave., located between the two other Su Teatro properties. Su Teatro will host an all-comers “blessing party” at 4 p.m. July 9 with cake, champagne and music.
 
- Denver Gazette, 06.21.24
 

BOULDER SUBMITS "STRONG" BID TO HOST SUNDANCE FILM FESTIVAL IN 2027

 
 
 
Colorado film boosters on Thursday announced a plan to lure the world-renowned Sundance Film Festival to Boulder in 2027. The festival would help put Colorado on the map internationally as “the center of the film industry,” Gov. Jared Polis told The Denver Post on Thursday, joining other festivals in Telluride, Denver and Boulder. He touted a potential economic impact of $100 million. Officials at the 44-year-old film festival, which for the past 40 years has taken place in Park City, Utah, began considering new host locations for the event — founded by Robert Redford — in April. Boulder responded in May, along with several other cities nationally, according to the Colorado Office of Economic Development and International Trade. Their official application is due Friday, June 21.
 
- Denver Post, 06.20.24
 

COLORADO RUNNING SHORT ON VETERINARIANS

 
 
 
Longer waits for appointments and doctors’ jam-packed schedules are more than just a hangover from the pandemic. A shortage of veterinarians has been building for a while and is being felt by owners of cats, dogs and other companion animals and in rural Colorado, where farmers and ranchers might drive for several miles to find help. The demand for workers in the veterinary field has been particularly high. The unemployment rate for veterinarians in 2023 was 0.5 percent. The national unemployment rate was 3.6 percent. In 2023, 95.7 percent of graduates reported receiving a job offer or an opportunity for advanced education two to three weeks before graduation. The robust job market is not surprising considering the increase in the number of pets. The number of households with pets in 1988 was 52 million. Last year, the number of households that owned pets was 87 million.
 
- Denver Post, 06.20.24
 

SNOWMASS RODEO OPENS SUMMER SEASON IN REDESIGNED ARENA

 
 
 
The Snowmass Rodeo kicked off its 50th anniversary season on Wednesday with the first rodeo of the summer, and the first rodeo held on its redesigned arena grounds. Most notably, the main grandstand and the announcer’s booth have been moved, giving guests a much different background than in the past. The changes to the arena grounds were part of a larger, $6.5 million beautification project by the Town of Snowmass Village. This included updates to the entrance of Snowmass Village, improvements to parking, and other small improvements to Snowmass Town Park. To celebrate the completion of the project, there will be a community ribbon-cutting ceremony this coming Wednesday, June 26, at the start of that night’s rodeo, around 7 p.m. The Snowmass Rodeo runs each Wednesday night through Aug. 21. For more, visit snowmassrodeo.org.
 
- Aspen Times, 06.21.24
 

WESTERN SLOPE ELECTRIC CO-OP GETS $72M TO BUILD SOLAR FARM

 
 
 
The Delta-Montrose Electric Association, serving 30,000 members on the Western Slope, can build a big solar array and battery storage with a new $72 million federal loan, continuing the co-op’s transition to solar power. Nearly $30 million of the U.S. Dept. of Agriculture loan is forgivable, effectively a grant, and will largely fund the co-op’s construction of a 20MW solar array and paired 80 megawatt hours of battery storage. The battery backup, increasingly paired with utilities’ construction of wind and solar farms, will make the new array a reliable source for about 7,000 homes. Colorado’s co-ops are also touting their renewable energy construction as the best way to keep energy affordable for strapped customers. Delta-Montrose said customers are enjoying their fifth year without a rate increase.
 
- GJ Daily Sentinel, 06.20.24
 

TABOR REFUNDS TO CONTINUE TO FLOW, ECONOMISTS SAY

 
 
 
In presenting their quarterly revenue forecasts to the Joint Budget Committee, economists for the Colorado Legislature and governor’s office said that despite higher-than-normal inflation, job growth and consumer confidence has buoyed the state’s economy, helping it to grow better than the national average. All that despite several new tax credits that legislators approved during this year’s legislative session. Revenues for the current fiscal year, which ends on June 30, is expected to exceed the revenue cap set under the Taxpayer’s Bill of Rights by about $1.5 billion, which is to be refunded to taxpayers in various ways when taxpayers file their returns next spring.
 
- GJ Daily Sentinel, 06.21.24
 

'WINTER WARRIORS' EXHIBIT SHOWCASES ARTIFACTS & STORIES OF SKI TROOPERS

 
 
 
When the History Colorado Center in Denver last year converted an underused portion of the center’s basement into a 5,000-square-foot exhibition space, a large showcase of the U.S. Army’s 10th Mountain Division ski troopers became the first exhibit to utilize the new location. History Colorado is home to the 10th Mountain Division Resource Center and has collected thousands of donations from ski troopers and their families, starting in the 1980s when veterans of the 10th created the resource center to ensure that their artifacts and stories were preserved for future generations. Those artifacts and stories were used to create the new gallery, a temporary exhibit titled “Winter Warriors: The 10th Mountain Division in World War II.” “Winter Warriors” will remain on display at the History Colorado Center in Denver through Oct. 12.
 
- vaildaily.com, 06.20.24
 

COMMISSIONERS APPROVE DEAL TO CONSERVE 8,000 ACRES IN ROUTT COUNTY

 
 
 
Routt County Commissioners voted Tuesday to fund the conservation of roughly 8,000 acres of land located on the rolling foothill terrain along the Williams Fork Mountains. The deal involves property spread across two ranches, the Camilletti Ranch and the Chance Ranch, at a combined cost of roughly $2 million — with an additional $60,000 provided for reimbursement of transaction costs. The vote for final approval for the agreement between the county and the Colorado Cattlemen’s Agricultural Land Trust means 3,978 acres of the Chance Ranch and 4,192 acres of the Camilletti Ranch will be conserved under the deal. The deal includes the county paying $1 million for the purchase of the conservation easement at Camilletti Ranch and $950,000 for the conservation purchase at Chance Ranch. Each deal also permits funding of up to $30,000 for the reimbursement of transaction costs. The properties cover an area located roughly 20 miles southwest of Hayden.
 
- Steamboat Today, 06.21.24
 

BEAR CONFLICTS INCREASING IN ONE OF COLORADO'S BUSIEST RESORT AREAS

 
 
 
Colorado Parks and Wildlife’s draft Black Bear Management Plan for the region that includes Summit and Grand counties documented an average of 79 human-caused bear mortalities in each of the past three years. There’s an estimated population in the region of 542 bears. The mortality rate is about 15 percent. A rate between 10 and 15 percent indicates a bear stable population. Hunting contributes to the vast majority of human-caused bear mortalities, with hunters killing an average of 64 bears in each of the past three years. Bears killed for human-conflict and damage-control purposes have reportedly averaged 10 bears per year over the last three years, while roadkill mortalities averaged about 10 bears per year. The draft plan, which is open for public comment through June 30, outlines significant issues stemming from poor trash storage and names human-bear conflicts as the region’s top issue. Public comments can be submitted online at TinyURL.com/B16BearComment.
 
- Summit Daily, 06.21.24
 

ALPINE BANK CELEBRATING 50 YEARS OF SERVICE IN SNOWMASS VILLAGE

 
 
 
Alpine Bank wants to celebrate with you and show our gratitude for 50 years of service to the Snowmass community. We are so appreciative of our customers, and this is just a small way for us to say thank you. The weeklong celebration will take place on July 1-3 and July 5 from noon to 4 p.m. at the Alpine Bank Snowmass location on Kearns Road. Community members can enjoy live music, cornhole and free swag. We are also firing up the barbecue grill serving up hamburgers and hotdogs as well as some sweet treats like doughnuts, cake/cupcakes, and ice cream. For more information about the event, contact Director of Community Outreach Isabel Johnson at isabeljohnson@alpinebank.com or 970-963-9116.
 
- Alpine Bank
 

THE SALARY A FAMILY OF 4 NEEDS TO GET BY

 
 
 
A family of four needs to earn at least $106,903 a year to cover their necessities in most U.S. states, a recent SmartAsset study reveals. The findings are based on cost estimates for housing, childcare, transportation, health care, taxes and other common expenses, as tracked by the MIT Living Wage calculator. Investment contributions and discretionary expenses like entertainment or travel are not included. These are the most expensive states in terms of basic costs for a family of four, based on how much you’d need to earn to make ends meet:
  1. Massachusetts: $150,578
  2. Hawaii: $147,319
  3. Connecticut: $139,924
  4. New York: $139,504
  5. California: $138,357
  6. Colorado: $132,486
 
- CNBC.com, 06.20.24
 
 
 
 
 
 
 
 
MARKET UPDATE - 06/20/2024 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
39134.76
 
+299.90
 
S&P 500
 
5473.17
 
-13.86
 
NASDAQ
 
17721.59
 
-140.64
 
10-year Treasury yield
 
4.25
 
+0.04
 
Gold (CME)
 
2353.80
 
+23.40
 
Silver (CME)
 
30.77
 
+1.27
 
Oil (NY Merc)
 
82.17
 
+0.60
 
Natural Gas ($/MMBtu)
 
2.74
 
-0.16
 
Cattle (CME)
 
187.07
 
+0.40
 
Prime Rate
 
8.50
 
NC
 
Euro (per U.S. dollar)
 
0.93
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.36
 
-0.01
 
Mexican peso (per U.S. dollar)
 
18.37
 
-0.05
 
30-year fixed mortgage rate (Freddie Mac 06/20/2024)
 
6.87
 
-0.08
 
*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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