Colorado - WED. 06/23/21 A Free Business Publication from Alpine Bank Print Version Print View Online Webpage
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TAKEOUT AND DELIVERY OF ALCOHOL FROM RESTAURANTS WILL STAY FOR 4 YEARS

 
 
 

Gov. Jared Polis was in Avon Tuesday at the Northside Kitchen to sign HB21-1027, a bill that will allow people to continue to get alcohol takeout and delivery from restaurants until July 1, 2025. The new law allows the takeout and delivery from 7 a.m. to midnight every day, and each order is limited to one liter of spirits, two bottles of wine and two six-packs of beer. It also allows for restaurants to continue serving alcoholic drinks in communal outdoor dining areas if approved by local governments.

 
- Denver Post, 06.23.21
 

HUGE RESORTS WORLD CASINO OPENS ON LAS VEGAS STRIP

 
 
 

The $4.3 billion Resorts World is the first megacasino to open on the Las Vegas Strip in more than ten years. It opens today. The Genting Group of Malaysia developed the 3,500-room hotel. It has 117,000 square feet of gambling space, 250,000 square feet of meeting space and a 5,000-seat theater where Celine Dion and Katy Perry will begin residencies later this year. There are seven swimming pools. For the Fourth of July, Miley Cyrus will perform at Resorts World and the concert will be broadcast live on the casino's 100,000-square-foot exterior LED screen overlooking the Strip.

 
- Wall Street Journal, 06.23.21
 

LUMBER PRICES FALL BACK, INFLATION CONCERNS REDUCED

 
 
 

Over the past year, lumber prices have soared, causing the construction of new houses to soar and frustrating all those do-it-yourselfers who were filling time during the pandemic shutdown. Lumber futures peaked at more than $1,600 per thousand board feet in May. Since then, sawmills have started up again and prices have dropped more than 45 percent from that peak. It is now below $1,000 for the first time in months. However, that is still higher than the $400 per thousand board feet that was the average between 2009 and 2019. Fed chairman Jerome H. Powell, Wednesday, used the lumber experience as an example of how inflation will not be a problem.

 
- New York Times, 06.23.21
 

AFTER TWO DAYS OF HEARINGS, NO DECISION YET ON ASCENDIGO CAMP

 
 
 

The Garfield County commissioners Tuesday held a second day of public hearings on the proposed camp of Ascendigo Autism Services on Missouri Heights. The first day of hearings focused on water, and on Tuesday the discussions centered on the definition of an "educational facility." The commissioners heard comments from more than 45 people, with some taking as long as 20 minutes to make their presentation. After the long day, the commissioners continued the hearing to a third day.

 
- GS Post-Independent, 06.23.21
 

CMC TO BUILD AFFORDABLE HOUSING AT FOUR CAMPUS LOCATIONS

 
 
 

The Board of Trustees of Colorado Mountain College has approved $41 million in certificates of participation to build some 150 affordable housing units on CMC-owned land at campus sites in Steamboat Springs, Edwards, Spring Valley outside of Glenwood Springs and Dillon. The housing units will be modeled after the housing units the college built in Breckenridge. The housing units would be available by 2023 and would require a 12-month lease. Colorado Mountain College has approximately 15,000 students enrolled at its 11 campuses.

 
- GS Post-Independent, 06.23.21
 

WESTERN SLOPE WILDFIRES GROW IN SIZE

 
 
 

There are multiple fires burning on the West Slope and most are growing in size. The Oil Springs Fire, which was sparked by lightning on Friday, grew from 5,000 acres to nearly 7,400 acres and was zero percent contained. The Colorado Dept. of Transportation said Colorado Hwy. 139 over Douglas Pass would remain closed at least until Thursday morning because of the fire. The Wild Cow Fire south of Baxter Pass west of Highway 139 grew to 248 acres Tuesday. The West Fire in far northwest Moffat County had grown to 2,630 acres, tripling in size on Monday.

 
- GJ Daily Sentinel, 06.23.21
 

AVELO AIRLINES ANNOUNCES "GRADS-ON-THE-GO" TICKET GIVEAWAY

 
 
 

Avelo Airlines Tuesday announced that it will give two round-trip tickets from Grand Junction to Burbank, California to 21 area graduates from high schools, colleges, universities or technical schools as part of its Grads-on-the-Go sweepstakes. Avelo is giving away some 500 tickets across the 12 communities it serves. The entry deadline is July 20 and winners will be selected Aug. 17. Graduates can enter the sweepstakes at aveloair.com/grads.

 
- GJ Daily Sentinel, 06.23.21
 

MOBILE HOME PARK RENTERS COMPLETE PURCHASE OF LAND

 
 
 

On Monday, the residents of River View, a mobile home park in Durango, completed the purchase of the land under their mobile homes. The mobile home park went up for sale in December 2020 and the residents launched the effort to buy the property, as outlined in legislation passed in the state in 2020. With the closing on the purchase Monday, the River View residents became the first in the state to gain ownership under the 2020 legislation. The price of the 14.5 acres of the mobile home park was $14 million.

 
- Durango Herald, 06.23.21
 

SYLVAN FIRE BLOWS UP ANOTHER 1,000 ACRES TUESDAY REACHES SYLVAN LAKE

 
 
 

Officials of the White River National Forest Tuesday said winds in the afternoon drove the Sylvan Fire over another 1,000 acres and now the fire has burned 3,359 acres. The fire had reached the shores of Sylvan Lake. Another 60 firefighters arrived to battle the fire, with 75 already on the fire lines. The additional personnel include one Hotshot crew and one more heavy helicopter. There was a very large air tanker, a large air tanker, single-engine air tankers and fixed-wing aircraft dispatched from Rifle and Grand Junction to make retardant drops throughout the day.

 
- www.vaildaily.com, 06.23.21
 

THE MUDDY SLIDE FIRE IN ROUTT COUNTY BRINGS MANDATORY EVACUATION ORDER

 
 
 

The increased winds Tuesday afternoon blew over the wildfires burning on the Western Slope and the increased fire activity of the Muddy Slide Fire in Routt County caused it to grow to about 1,000 acres. Routt County emergency officials Tuesday night issued a mandatory evacuation order for residents south of mile marker 12 on County Road 16 down to Colorado Hwy. 134, replacing the voluntary order that had been in place. The mandatory evacuation order covered 10 to 15 homes and an evacuation center was set up at Soroco High School. The Routt County commissioners moved the county to Stage 2 fire restrictions effective at noon Wednesday. Under Stage 2 restrictions, all campfires or other open fires are prohibited.

 
- Steamboat Today, 06.23.21
 

STAGE 2 FIRE RESTRICTIONS GO INTO PLACE IN SUMMIT COUNTY FRIDAY

 
 
 

The Summit County commissioners Tuesday voted unanimously to impose Stage 2 fire restrictions to go into effect Friday, June 25. It is just one week after the commissioners placed Stage 1 restrictions in place. Stage 2 fire restrictions prohibit all open fires within Summit County, including those previously permitted fires on private property. Fires within developed campgrounds or picnic areas, even those in a permanent fire pit or grate, are also banned. In addition to campfires, Stage 2 restrictions prohibit fireworks, explosives of any kind, slash and pile burns, charcoal and wood pellet grills, smokers, wood-burning stoves and smoking in vegetated areas, among others.

 
- Summit Daily, 06.23.21
 

RECORD SALES PRICE HIT IN MAY

 
 
 
  • From 2001 to 2020, U.S. builders added an average of 1.225 million new housing units each year
  • That is down from an annual average of 1.5 million new units from 1968 to 2000
  • The result is a 5.5 million-unit deficit
  • The deficit includes 2 million single-family homes, 1.1 million units in buildings with two to four units, and 2.4 million units in buildings of at least five units
  • As a result of the shortage in new homes and the shortage of inventory of homes for sale overall, the median existing-home price hit $350,300 in May, a record high
  • It is 23.6 percent higher than May 2020
  • Median sales prices have accelerated sharply since it hit the $300,000 threshold for the first time in July last year
 
- Wall Street Journal, 06.22.21
 

HOPE IS ESSENTIAL ONLINE CAMPAIGN & AUCTION

 
 
 

Make-A-Wish Colorado and Alpine Bank are hosting an online event called "Hope Is Essential Campaign & Auction." In a time of continued uncertainty, one fact remains unchanging and true - hope is still as essential as ever! With a record number of over 450 kids waiting for their wish to be granted, Make-A-Wish Colorado is calling on you to help ensure these children facing critical illnesses do not have to wait even a day longer than necessary to receive their wish. Help bring hope, joy and transformation to wish kids and their families when it matters most. Donate now or participate in the online auction, June 22-26! All gifts made to the campaign in the month of June will be matched up to $50,000 thanks to STARZ! Register and donate now at the link below. To learn more, call 303-903-2349.

 
- Make-A-Wish Colorado
 
 
 
 
 
 
 
 
MARKET UPDATE - 06/22/2021 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
33945.58
 
+68.61
 
S&P 500
 
4246.44
 
+21.65
 
NASDAQ
 
14253.27
 
+111.79
 
10-year Treasury yield
 
1.47
 
-0.01
 
Gold (CME)
 
1776.30
 
-5.50
 
Silver (CME)
 
25.84
 
-0.17
 
Oil (NY Merc)
 
73.06
 
-0.60
 
Natural Gas ($/MMBtu)
 
3.25
 
+0.06
 
Cattle (CME)
 
123.10
 
+2.13
 
Prime Rate
 
3.25
 
NC
 
Euro (per U.S. dollar)
 
0.83
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.23
 
NC
 
Mexican peso (per U.S. dollar)
 
20.34
 
-0.15
 
30-year fixed mortgage rate (Freddie Mac 06/17/2021)
 
2.93
 
-0.03
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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Alpine Bank is an employee-owned Colorado bank chartered in 1973. With 40 locations across Colorado, Alpine Bank offers a full suite of banking services. The Class B nonvoting common shares of Alpine Banks of Colorado, Alpine Bank’s parent holding company, trade on the OTCQX under the symbol “ALPIB".
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