Colorado - Wed. 05/29/24 A Free Business Publication from Alpine Bank View Online View in Browser
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GRAND JUNCTION TOP SPOT FOR PEOPLE MOVING TO COLORADO

 
 
 
Grand Junction, Littleton and Loveland are the top three spots in Colorado, according to a new ranking from USA Today Homefront, of places in the state attracting the most new residents. Denver and Aurora rank near the bottom, while Boulder and Colorado Springs make the top 10. Homefront, after surveying Texas and Florida, looked at 21 municipalities and one census-designated place, Highlands Ranch, with a population of 40,000 or more in Colorado. Each location was scored on 16 metrics including crime rate, quality of schools, walkability, health care access, risk of natural disasters, housing affordability and the availability of restaurants and activities. Grand Junction scored highly for housing affordability, health care access, a mild climate and plentiful activities and restaurants. The Western Slope city held its own on crime and school district quality. Homefront labeled it as one of Colorado’s “best-kept secrets.”
 
- Denver Post, 05.27.24
 

HUNTING THE LAST COLORADO ORANGE APPLE TREE

 
 
 
The last Colorado Orange apple tree stood for 100 seasons, its location a sworn secret. Riley Diana, 74, said the Steinmeier Farm owner told him there'd be no peace if word got out. In 2014, Diana knew he had to break his promise or lose the apple forever. "I could tell it was checking out. It stopped producing blossoms," he said. The retired prison psychologist who cared for the orchard had heard about apple hunters out of Cortez who were searching for the legendary fruit. "When he called, he said he had a Colorado Orange," said Jude Schuenemeyer, "We thought it was extinct.” Today they have 14 trees within a couple of seasons of bearing fruit, part of the Montezuma Orchard Restoration Project. By poring over historical books, reports and records, they have rediscovered 500 varieties of apples that were planted in Colorado prior to 1930. Many of the apples they find growing on trees up to 100 years old or older. Nearly half of the varieties are considered lost.
 
- Denver Gazette, 05.22.24
 

BANDIMERE SPEEDWAY ON TRACK TO BECOME VEHICLE SALES HUB

 
 
 
Bandimere Speedway owners and the town of Morrison are taking steps toward annexation and commercial redevelopment on 125 acres against Colorado’s Hogback rock formation in the mountain foothills at metro Denver’s southwestern edge. The land is on track to become “a cutting-edge online Vehicle Auction Center.” Drag racing ended in October after John Bandimere Jr. decided to sell the property. He hopes to reopen in 2025, perhaps at a site near Denver International Airport. Copart, a $52 billion Dallas-based corporation that runs auto sales, has entered into a contract to buy the site. Cars, trucks, boats, and industrial equipment declared “totaled” by insurers would be stored and transferred to new owners. About 20 employees would work in a building overseeing sales. Morrison town board members formally accepted the application after staffers recommended approval. The board directed staffers to hold a required public hearing Aug. 6 about the proposed annexation.
 
- Denver Post, 05.25.24
 

REMAKING DOWNTOWN GOLDEN

 
 
 
A Coors family project remaking part of downtown Golden is officially underway. The project, Clayworks, is the redevelopment of five city blocks owned by the Coors family. The 12.4-acre site at 500 9th St. will include 1.2 million square feet of residential, retail, hotel and office space. The site currently includes industrial structures no longer in use. During the first phase of the project, crews will demolish most of the industrial structures. The project's first phase of construction will include a new headquarters for CoorsTek Inc., a manufacturer of technical ceramics used for semiconductor, automotive, aerospace and medical parts. The 182,000-square-foot office will also be home to other Coors-family companies, a yet-to-be-named office tenant and three food and beverage spots. The four-story building will be all-electric and have underground parking, the company said. The total redevelopment project is estimated to cost $900 million.
 
- Denver Business Journal, 05.24.24
 

VOTERS WILL BE ASKED TO LET COLORADO USE MORE TAXES ON WATER PROJECTS

 
 
 
Four years after sports betting became legal in Colorado, the wagers have proven to be more popular than anyone anticipated. The 10 percent tax on the bets’ revenue, which helps fund water projects in the state, is bringing in more money than expected. Now, lawmakers want voters to give them permission to use those excess funds instead of giving it back to casinos. After Gov. Polis signed House Bill 1436, the question is set to appear on the November ballot. When legalized sports betting was approved in 2019, lawmakers set a $29 million cap on the amount of taxes that could be collected as part of an effort to get bipartisan support on the measure. Anything above that cap goes back to the betting operation. But the cap was calculated using limited data because Colorado was one of the first states to legalize sports betting. This year, the revenue is expected to exceed that cap by about $2.8 million. By the 2025-2026 fiscal year, it could be an extra $7 million.
 
- Aspen Times, 05.25.24
 

ASPEN MUSIC FESTIVAL & SCHOOL CELEBRATES 75TH ANNIVERSARY

 
 
 
The Aspen Music Festival and School is highlighting its family and education programs for its 75th anniversary this summer and aims to explore Aspen’s impact on the musical and personal development of musicians over the past 75 years through its free youth and family programming. This year’s family concert will be Prokofiev’s “Peter and the Wolf” at 10 a.m. on July 13, at the Klein Music Tent. The Aspen Music Festival will also host Tunes and Tales, a musical storytelling partnership with the Pitkin County and Basalt regional libraries late June through July. The Music Festival will host Music on the Mountain at 1 p.m. every Saturday on top of Aspen Mountain. It will also host a community pride celebration on June 27, its 75th anniversary party on June 30, and an “appreciation Sunday” concert on July 14, which will have free admission and a post-concert reception for Roaring Fork Valley first responders, volunteers, teachers and nonprofit employees.
 
- Aspen Times, 05.26.24
 

CANYON VIEW BASQUE HANDBALL COURT IN GJ GETS OFFICIAL LANDMARK DESIGNATION

 
 
 
Grand Junction officials, with Basques from across Colorado and California, came together over the weekend to celebrate a Basque handball court, the only one of its kind in Colorado and one of only a handful in the U.S. The nearly half-century-old Plaza Urrutia court has been officially established as a state historic site with its inclusion on the Colorado Register of Historic Properties. The official plaque was unveiled at the site Saturday. Instead of being destroyed to make way for a parking lot, the fronton has become the only site in Colorado officially recognizing the importance of the Basques who started coming to Colorado and Utah a century ago to herd sheep. There are now an estimated 2,200 Basques in Colorado. The late Gene Urruty built Plaza Urrutia on a ranch he owned. His wife, Benerita donated the land with the fronton on it to the city after his death. The land was turned into Canyon View Park, a showcase park for Grand Junction.
 
- Colorado Sun, 05.25.24
 

MORROW POINT DAM: ALL SPILLWAYS OPEN

 
 
 
All four gates are open on the Morrow Point Dam in Montrose County for the first time since 2017, providing a spectacular display of force as water spills into the Gunnison River, the fifth largest tributary to the Colorado River. While the flow from 15-foot-wide gates 468 feet above is intriguing to tourists and locals making their way along Morrow Point Dam Road from U.S. 50 in Cimarron, the water is intended to simulate spring runoff conditions to protect the endangered Colorado pikeminnow and razorback sucker in the lower Gunnison River and three other endangered fish species in the Colorado. Typically, only two gates open on the dam, if they open at all. Four gates were opened to test the system in 1970, and the four gates opened in 2014 and again in 2017. The gates will remain open at least through the weekend.
 
- Colorado Sun, 05.24.24
 

WESTERN SKYWAYS MOVING TO DELTA

 
 
 
After about three decades in Montrose, Western Skyways will be relocating to Delta, the company and Delta County’s economic alliance announced Friday. Western Skyways, which provides piston engine servicing and other services for general aviation, will be moving into a commercial building at 18436 F Road in Delta. The company president, Eric Barker, says that building is essentially turn-key, and that Western Skyways intends to retain all current employees. The announcement from One Delta County states that Western Skyway’s rent in Montrose was its second largest expense. Barker said the company has been considering Delta for years “due to its favorable environment for growth and expansion and its strategic geographic location for recruitment.” He added: “Owning our own building in Delta will decrease our overhead costs and enable us to attract skilled labor from a wider region.” Western Skyways came to Montrose in 1994. The company now employs 55 people.
 
- Montrose Daily Press, 05.24.24
 

TUXON RANCH: BIG PLANS FOR EQUINE EDUCATION

 
 
 
John Harper envisions the 115-acre Tuxon Ranch, south of Breen in southwest La Plata County, as a go-to destination for equine enthusiasts eager to learn the ropes, as a place to train horses, donkeys and other livestock, a place to board animals, and a place to provide educational opportunities for those interested in the field. Harper, general manager of American Heritage Railways, which owns the D&SNG, said he’s been working with Durango School District 9-R Superintendent Karen Cheser and Big Picture High School Internship Coordinator David Blau to implement a program where students from elementary school to high school can garner hands-on experience. The ranch features a 37,500-square-foot outdoor arena; a 25,300-square-foot indoor arena; and multiple boarding options, including show stalls, overnight stalls for equine professionals, bedding in the stalls, full-service pasture boarding, as well as boarding in the wood barn and main equestrian center.
 
- Durango Herald, 05.27.24
 

THE COUNTRY'S FIRST-EVER WORKFORCE HOUSING COMPLEX SET TO BE BUILT ON USFS LAND

 
 
 
During a May 21 Summit Board of County Commissioners meeting, officials presented plans for a 162-unit income-based rental complex slated to be built on Dillon Ranger District land, part of the White River National Forest, outside the town of Dillon. It marks the first time in the U.S. that a national forest has leased land to a local government to build workforce housing. The project has been in the works for more than a year amid negotiations between the county and Dillon, which will see the town provide water access in exchange for the county’s support to build a roundabout to mitigate traffic. The plans call for six buildings each 47 feet high to be built on an 11-acre ranger district administrative site northeast of the U.S. Hwy. 6 and Lake Dillon Drive intersection. The units will include studio, one, two and three-bedroom apartments, with rent ranging from around $1,550 to just over $3,450. The targeted area median income range is 80 percent and 120 percent.
 
- Summit Daily, 05.26.24
 

WESTERN SLOPE VETERANS COALITION HOST GOLF TOURNAMENT

 
 
 
The Western Slope Veterans Coalition hosts its fourth annual Veterans Golf Tournament on June 14 at the Lakota Links Golf Club in New Castle. Seeking individual players, teams, volunteers and hole sponsors, the event aims to raise crucial funds to support programs for veterans across Garfield, Eagle and Pitkin counties. Contests include a closest-to-the-hole challenge and a hole-in-one grand prize. Each participant will also receive a swag bag and is invited to the awards ceremony. The Western Slope Veterans Coalition helps connect veterans with the Veterans Health Administration and resources specializing in mental health, temporary housing, transportation and more. This year’s tournament will include a couple of silent auctions, featuring items such as a golf package with an overnight hotel stay and a private flight to Moab, which will include a private breakfast or lunch. Alpine Bank is a proud sponsor of the event. To register, volunteer or sponsor the event, call 970-233-8735.
 
- Western Slope Veterans Coalition
 

BEST CITIES TO MOVE TO IN COLORADO

 
 
 
The research team at Homefront ranked 22 cities in Colorado across 16 different quality-of-life metrics. Grand Junction, Littleton and Loveland took the top three spots, scoring well in categories such as home affordability and low crime rates. These are USA Today Homefront’s top cities to relocate to in the state:
  1. Grand Junction
  2. Littleton
  3. Loveland
  4. Fort Collins
  5. Longmont
  6. Greeley
  7. Broomfield
  8. Boulder
  9. Colorado Springs
  10. Parker
  11. Centennial
  12. Arvada
  13. Castle Rock
  14. Lakewood
  15. Highlands Ranch
  16. Westminster
  17. Aurora
  18. Pueblo
  19. Denver
  20. Thornton
  21. Brighton
  22. Commerce City
 
- USA TODAY, 05.14.24
 
 
 
 
 
 
 
 
MARKET UPDATE - 05/28/2024 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
38852.86
 
-216.73
 
S&P 500
 
5306.04
 
+1.32
 
NASDAQ
 
17019.88
 
+99.09
 
10-year Treasury yield
 
4.54
 
+0.07
 
Gold (CME)
 
2355.20
 
+22.70
 
Silver (CME)
 
31.97
 
+1.64
 
Oil (NY Merc)
 
79.83
 
+2.11
 
Natural Gas ($/MMBtu)
 
2.59
 
+0.07
 
Cattle (CME)
 
184.55
 
+0.85
 
Prime Rate
 
8.50
 
NC
 
Euro (per U.S. dollar)
 
0.92
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.36
 
NC
 
Mexican peso (per U.S. dollar)
 
16.79
 
+0.10
 
30-year fixed mortgage rate (Freddie Mac 05/23/2024)
 
6.94
 
-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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