|
Colorado - Tue. 11/03/26 |
A Free Business Publication from Alpine Bank
|
|
View in Browser
|
|
|
| |
CATASTROPHIC FLOODING THRASHES SOUTHWESTERN COLORADO FOR SECOND WEEK
|
| |
|
|
| |
Southwestern Colorado residents were hit with another round of destructive flooding Sunday and Monday as rivers and creeks overflowed their banks for the second time in less than two weeks, rushing into homes and businesses, sweeping away property and stranding people. Community leaders and law enforcement officials in La Plata, Archuleta, Rio Grande, Mineral, Conejos and Montezuma counties were still trying to understand the scale of the damage as floodwaters slowly started to recede Monday night, and mandatory evacuation orders and widespread road closures remained active throughout the region. Archuleta and La Plata counties saw the largest impacts of the estimated 3 to 4 inches of new rainfall, and more rain may have fallen in some areas.
The San Juan River surged to a near-record high level in Pagosa Springs on Sunday night, with gauges recording 16.8 feet, about a foot shy of the 17.8-foot record high set more than 100 years ago but still two feet higher than damaging floods that hit the town less than two weeks ago. Water levels had dropped below 12 feet as of Monday evening, which is still a flood stage. Forecasters don’t expect the river to drop below flood or pre-flood stages until early Wednesday morning. The Animas River, which snakes through the city along U.S. 550, rose from about 4.5 feet Sunday morning to a peak of almost 9 feet on Monday morning, with the flow rate exploding from 1,290 cubic feet per second to 13,000. The water levels had receded about 6 inches by Monday night, and forecasters expected the river to drop below flooding and pre-flood stages early Tuesday morning.
|
| |
|
|
|
| |
DURANGO SCHOOL DISTRICT, FLC CANCEL CLASSES FOR SECOND DAY
|
| |
|
|
| |
|
For the second day, Durango School District canceled classes Tuesday as a result of widespread flooding across La Plata County. “While some areas have not been directly affected, road closures, impassable routes, evacuations, and the inability of many students and staff to safely reach schools continue to affect district operations,” the district said in an announcement Monday. “We anticipate reopening schools Wednesday, Nov. 4, conditions permitting.” The district also canceled school on Monday. Tuesday’s closure will be the second of three designated closure days built into the calendar. If the district exceeds its three days, it may need to schedule makeup days in June, according to the release. “We encourage families and staff to keep those dates available when making summer plans,” the release said.
|
| |
|
|
|
| |
U.S. TREASURY APPROVES ALL 91 COLORADO OPPORTUNITY ZONES
|
| |
|
|
| |
Ninety-one geographic areas across Colorado, including several in the Colorado Springs and Denver metro areas, have been approved to be federally designated as new Opportunity Zones in a second reiteration of the program, the state announced on Monday. The areas, the maximum number the state could submit for consideration, are part of the federal Opportunity Zone initiative that incentivizes long-term private investments in designated low-income communities. The zones help rural and urban communities across Colorado attract new development and investment capital, strengthening the local and statewide economies. Investors can receive tax benefits through the program when they invest in real estate, infrastructure projects and operating businesses within designated zones. Each of the 91 newly approved zones will go live for investment on Jan. 1.
- A state map of approved Opportunity Zone tracts shows there are eight located in El Paso County. They include areas like the North Nevada Corridor, Printers Hill, the South Nevada Corridor, and the Stratton Meadows and East Lake neighborhoods located near downtown.
- Thirty-nine zones are proposed across Denver, Adams, Arapahoe and Jefferson counties. They include every eligible neighborhood on Denver’s Mile High Line, the Sun Valley neighborhood in Denver and Globeville in North Denver, among others.
In early 2027, OEDIT will offer webinars and additional information on how to access these grants. The Opportunity Zone program was originally launched in 2018 and sunsets in December 2028. Over its first iteration, Colorado reached more than $3.2 billion in investments across the state through the end of 2024, representing $534 per person. A federal bill signed into law in July 2025 continued the program and made it permanent while updating eligibility requirements and benefits. The U.S. Dept. of the Treasury identified 362 census tracts in Colorado that met the updated program’s eligibility requirements, inviting state officials to submit up to 91, or 25 percent, of the census tracts for official designation.
|
| |
|
|
|
| |
ASPEN AMENDS NO OVERNIGHT PARKING RULE IN DOWNTOWN
|
| |
|
|
| |
|
The city of Aspen is reducing the no overnight parking timeframe in the commercial core by an hour this winter, to help support local businesses and those who recreate early. Nov. 1 through April 1, overnight parking will not be permitted between the hours of 3 to 6 a.m. - previously 3 to 7 a.m. The decision comes after an Aspen City Council work session on Tuesday, where they discussed the change. Council Member Sam Rose recalled the city “having issues” with individuals skinning up the mountain who needed to park early enough that they could be up the mountain before it opened. “I wanted to see if there was leniency and room for people to go do that this year,” he said. With the adjustment now in place, warnings will be issued starting Nov. 1 through Nov. 15 — after that, violators will be issued $100 fines, $25 more than last year’s fine of $75. Vehicles parked overnight during a snow event, however, are subject to being towed, with fees up to $260.
|
| |
|
|
|
| |
ANDERSON RANCH HOSTS FREE VISITING ARTIST LECTURE
|
| |
|
|
| |
|
Visual artist James Casebere, a pioneer of constructed photography, has spent nearly 50 years making imagined space look real. While he has a deep history building architectural models and photographing them using light, color and perspective, he has turned to painting during his residency at Anderson Ranch Arts Center in Snowmass, which runs through Nov. 6. As part of the residency, New York-based Casebere will give a visiting artist talk from 4:30 to 5:30 p.m. today, Nov. 3 at Schermer Meeting Hall, with a livestream available for remote viewers. Casebere’s work is held in international collections, including the Museum of Modern Art, the Guggenheim, the Whitney, the Tate Gallery and the Victoria and Albert Museum. His career includes approximately 45 solo shows and 210 group exhibitions. In 2025, he received a MacDowell Fellowship and a Pollock-Krasner Foundation grant. He’s also the recipient of three National Endowment for the Arts fellowships, three New York Foundation for the Arts fellowships and a John Simon Guggenheim Memorial Foundation grant. For more information, visit andersonranch.org/events/visiting-artist-james-casebere.
|
| |
|
|
|
| |
COLORADO WON'T LAUNCH WATER-CONSERVATION PROGRAM IN 2027 WITHOUT GUARANTEE FROM FEDS
|
| |
|
|
| |
Colorado water managers say a state-run conservation program planned for 2027 is in jeopardy as they wait on an agreement with federal officials. Before they open the application period for a new conservation program, state officials want assurance from the U.S. Bureau of Reclamation that conserved water they store in Lake Powell won’t just be released downstream for Lower Basin use. In September, the state water board approved the application review process and criteria for what state officials are calling Colorado’s near-term contribution program for 2027. The program aims to use nearly $100 million in funding from Reclamation to pay water users in the Upper Basin states (Colorado, New Mexico, Utah and Wyoming) to voluntarily cut back. But that approval depends upon whether Colorado can get credit for and have control over the stored water.
State officials said repeatedly at an Oct. 21 meeting with the Colorado River Water Conservation District that they need assurance in writing from Reclamation that the pool of stored water must be “operationally neutral” — meaning it would not be factored into reservoir releases or used by the Lower Basin — before they move forward with a state-run program. Federal officials say operational neutrality for a conservation pool in Lake Powell will require approval from the Lower Basin states (California, Arizona and Nevada). Time is running out to get a conservation agreement in place before the 2027 irrigation season.
|
| |
|
|
|
| |
TELLURIDE SKI RESORT HIRES NEW SKI PATROL DIRECTOR
|
| |
|
|
| |
|
After an extensive search process, Telluride Ski Resort is happy to announce that Elizabeth Howe has been selected as the new ski patrol director. She assumed her role in August. Howe started her ski area career at Telluride in 1993, so this is a “return home” of sorts for her. She worked at Telski for 20 years, starting as a liftie, working on trail crew and as a lift mechanic, and worked her way up to vice president of resort operations. In 2013, Howe left the company to go on to build an extensive ski area leadership and operations career. She served as the senior director of mountain operations at Vail for several years and then moved on to be the chief operations officer for Durango-based Mountain Capital Partners. In the latter role, Howe directed multi-state resort operations and teams across five states, all within climate-sensitive alpine economies. Like Telluride, these challenging economies required diversification and year-round resilience.
|
| |
|
|
|
| |
STEAMBOAT SPRINGS SALES TAX COLLECTIONS DOWN 2.38% IN SEPTEMBER PRELIMINARY REPORT
|
| |
|
|
| |
The city of Steamboat Springs has reported a 2.38 percent drop in preliminary sales tax collections for September, representing a decrease of $79,525. Year-to-date collections are down $1.13 million from the same period last year, or 3.44 percent. Compared to September 2025, lodging was down 14.06 percent; liquor and marijuana down 5.6 percent; miscellaneous retail down 2.53 percent; sporting goods up 8.57 percent; and utilities up 7.95 percent. Accommodation-tax revenues, which support community improvements, parks and open spaces, and the preservation of natural resources, were down 7.16 percent, a decrease of $7,822.
Short-term rental tax is dedicated to retaining and expanding affordable housing incentives for projects such as Slate Creek/Brown Ranch. Preliminary STR tax collections in September 2026 were down 13.7 percent, a decrease of $89,636. Building-use tax helps fund capital projects within Steamboat Springs. For August, preliminary collections increased by nearly 67 percent from the previous August, or around $239,400, largely offsetting decreases in other categories. To view the full report, visit tinyurl.com/52zjw3zc.
|
| |
|
|
|
| |
THREE SUMMIT COUNTY NONPROFITS AWARDED $450,000 EACH THROUGH NEW GRANT PROGRAM BACKED BY VAIL RESORTS CEO
|
| |
|
|
| |
Three Summit County nonprofits will each receive $450,000 over the next three years through a new grant program established by Vail Resorts CEO Rob Katz and his late wife, Elana Amsterdam. Mountain Dreamers, CAFE Food Rescue and Smart Bellies are among seven organizations selected for the inaugural round of the Katz Amsterdam Charitable Trust’s Catalyst Grant Program, which will distribute $4.5 million to nonprofits serving mountain communities. The three Summit County organizations will receive a combined $1.35 million to support their work addressing food insecurity and providing services to immigrant families. The Catalyst program provides flexible, multi-year funding, allowing organizations to direct resources toward their most pressing needs.
- Mountain Dreamers provides resources and advocacy for immigrant communities in Summit County.
- CAFE Food Rescue works to reduce food waste and improve access to nutritious food.
- Smart Bellies also addresses food insecurity by providing meals to local children and families.
The new program focuses on four areas of need in mountain communities: early childhood education, food security, immigrant services and out-of-school opportunities for K-12 students. The inaugural group also includes four nonprofits serving Eagle County and Park City, Utah. The Catalyst grants come in addition to the Katz Amsterdam Foundation’s Youth Winter Sports grants, which recently awarded $1.1 million to organizations helping children access skiing and snowboarding opportunities in the Midwest, Mid-Atlantic and Northeast. For more information, visit KatzAmsterdam.org.
|
| |
|
|
|
| |
AMERICANS NOW SPEND NEARLY HALF OF THEIR BUDGETS ON FOOD & HOUSING ALONE, THE BIGGEST SHARE IN 15 YEARS
|
| |
|
|
| |
The affordability crisis has Americans feeling every penny that leaves their wallets. And according to the U.S. Bureau of Labor Statistics, nearly half of their spending is going towards necessities like housing and food—leaving little for quality of life.
- New data from the BLS’s annual Consumer Expenditures Report found that housing and food accounted for 46.9 percent of average expenditures in 2025. And that’s because the pressure point of rising costs of essentials grew—housing expenditures climbed 5.8 percent, and food spending increased 4.6 percent compared to the previous year.
- The average household spent $27,790 on housing in 2025, up from $26,266 in 2024. Within housing costs - which includes costs related to the housing itself, utilities, furnishings, supplies and operations—shelter costs rose even more steeply. Average shelter expenditures increased 8 percent, rented dwellings climbed 10.8 percent and expenditures on owned dwellings increased 7.3 percent.
- Food spending also rose—the average consumer spent $10,633 on food in 2025, up from $10,169 the previous year. The increase was partly driven by an 11.7 percent jump in spending on meat, poultry, fish and eggs.
- Meanwhile, consumer inflation—as based on the Consumer Price Index for All Urban Consumers—increased 2.6 percent in 2025, all while housing and food expenditures grew faster.
The University of Michigan’s October consumer sentiment index sat at 48.0, showing minimal change from September’s 48.1—but 10.4 percent lower than its October 2025 reading of 53.6. The current economic conditions index also fell to 46.7 from 50.9 the previous month, a decline of 8.3 percent. The October reading was the second lowest in the survey’s history, following a record low of 44.8 in May.
|
| |
|
|
|
| |
OPENING A COLORADO BUSINESS ISN'T CHEAP - HERE'S WHAT IT MAY COST
|
| |
|
|
| |
With an increasing number of people looking into opening their own business, it’s important to get a sense of what that entails. The costs — particularly to open a brick-and-mortar location — can be considerable. A new report by Pixartprinting looked at those costs in every state, and the numbers varied wildly based on what type of business was planned. The report found the average cost to open a store in Colorado is $138,779, with a restaurant, at an average of $364,500, the most expensive. A bakery required $26,000 on average, the cheapest. The economics are different, of course, if you’re looking at a “gig” job like shopping, driving or delivery work. You can tackle some of those tasks if you already own a car — or even just have access to a bike in some areas. But when you need a fixed address for meeting customers, doing the work or keeping inventory, prices go up. The report looked at average startup costs, LLC filing fees, income tax and sales tax burdens.
What does it cost to open businesses in Colorado?
- Restaurant, $364,500
- Laundromat, $315,000
- Daycare, $265,125
- Coffee shop, $209,000
- Ice cream shop, $183,750
- Food truck, $112,500
- Hair salon, $99,900
- Nail salon, $97,200
- Barber shop, $78,300
- Yoga studio, $60,375
- Catering, $44,625
- Florist, $44,625
- Pet grooming, $42,000
- Bakery, $26,000
What are the cheapest states to open a store in?
- Mississippi, $107,298
- West Virginia, $109,384
- Arkansas, $110,329
What are the most expensive states to open a business in?
- Hawaii, $188,154
- California, $187,048
- New York, $172,925
|
| |
|
|
|
|
|
|
| |
|
MARKET UPDATE - 11/02/2026 Close
|
| |
|
(Courtesy of Alpine Bank Wealth Management*)
|
| |
|
Canadian dollar (per U.S. dollar)
|
| |
|
|
|
|
Mexican peso (per U.S. dollar)
|
| |
|
|
|
|
30-year fixed mortgage rate (Freddie Mac 10/29/2026)
|
| |
|
|
|
|
|
*Not FDIC insured. May lose value. Not guaranteed by the bank.
|
| |
|
| |
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.
|
| |
|
|
| |
| Make changes to your subscription or unsubscribe here. |
| © 2026 Alpine Bank. |
| |
|
|
