Colorado - Tue. 12/13/16 A Free Business Publication from Alpine Bank View Online View in Browser
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WYOMING SELLS TETON PARCEL TO NPS FOR $46M

 
 
 

The state of Wyoming Monday sold a one square mile parcel of land inside Grand Teton National Park to the U.S. government for $46 million. The parcel had been owned by Wyoming since it became a state in 1890. It was one of hundreds of parcels statewide designated for sale to raise money for public education. The sale eliminates the possibility that the property might be developed, and gives the state much needed revenue amid state budget shortfalls caused by declining revenues from coal, oil and natural gas.

 
- Denver Post, 12.13.16
 

BLUE BELL ICE CREAM COMING BACK TO DENVER

 
 
 

Blue Bell, the Texas-based ice cream maker, announced Monday that it will begin the re-start of distribution to Denver and surrounding cities March 27. Blue Bell pulled all of its products from stores nationwide in April 2015 due to a listeria outbreak that killed three people. Blue Bell has been slowly returning to grocery stores starting in August 2015.

 
- Denver Post, 12.13.16
 

NEW $1B ENERGY COALITION FUND

 
 
 

A year ago, Bill Gates, along with 20 investors including Mark Zuckerberg, George Soros and Richard Branson, started the Breakthrough Energy Coalition. On Monday, those investors announced they would put more than $1 billion into Breakthrough Energy Ventures, a fund to promote innovation in the $6 trillion energy market. At the top of the list is the funding of technologies with the potential to reduce greenhouse gas emissions by at least a half gigaton, with initial funding going to helping startups that can reduce emissions from electricity generation, transportation, and industrial processes in steel-making, cement production and agriculture.

 
- Associated Press, 12.13.16
 

GARCO JOINS LAWSUIT AGAINST BLM

 
 
 

The Garfield County commissioners Monday agreed to join a lawsuit that seeks to block the new rules proposed by the Bureau of Land Management. The new rules are established to govern planning and management of resources in the West and update rules that have been in place since 1979. Six counties throughout the western U.S. have joined the lawsuit, claiming the new rules would limit the role counties play in resource planning and relegate the counties to a role similar to that of an individual member of the public.

 
- GS Post-Independent, 12.13.16
 

GLENWOOD'S OTHER BRIDGE PROJECT MOVING ALONG

 
 
 

The city of Glenwood Springs will begin work this week on the new pedestrian bridge across the Roaring Fork River from Midland Avenue to 14th Street. The bridge could be usable early next year, weather permitting, much sooner than originally projected. On Wednesday, Thursday and Friday this week, there may be traffic delays and periodic one-lane closures on Midland Avenue between 27th and Eighth streets, as a crane will be installing bridge segments. Lane closures are expected from 9 a.m. to 6 p.m.

 
- GS Post-Independent, 12.13.16
 

CU ECONOMIST: GRAND VALLEY WILL STILL STRUGGLE

 
 
 

Richard Wobbekind, executive director of the business research division of the Leeds School of Business at the University of Colorado, told a record turnout at the quarterly membership luncheon of the Grand Junction Area Chamber of Commerce that although Colorado will be in the top 10 states for job growth, Mesa County will continue to struggle. However, Wobbekind said the worst is over for the Grand Valley economy, the oil and gas industry might even show a slight rebound and the leisure and hospitality industry along with the wholesale industry remain as bright spots.

 
- GJ Daily Sentinel, 12.13.16
 

MESA COUNTY FACING TIGHT BUDGET TIMES

 
 
 

The Mesa County commissioners Monday unanimously approved the 2017 budget, which includes $54.7 million in general fund spending, about 1 percent less than this year, but also included the caveat that the 2018 budget could face more substantial cuts. The 2017 budget requires as much as $2.7 million from the reserve fund, along with $36 million in capital spending. The budget also has a $1.4 million increase for the sheriff's office and a $400,000 increase for the Mesa County District Attorney's Office.

 
- GJ Daily Sentinel, 12.13.16
 

DRY TIMES IN THE GUNNISON BASIN

 
 
 

"November was really dry," that is the assessment of the Gunnison Basin by Erik Knight, a hydrologist for the Bureau of Reclamation. The agency manages Blue Mesa Reservoir, Taylor Park Reservoir and other water holding areas in the Aspinall Unit. Blue Mesa is currently about 72 percent full and Taylor is 65 percent full. According to SNOTEL data from the Natural Resources Conservation Service, the snow-water equivalent from snowpack in the Gunnison Basin is at 79 percent of median for mid-December.

 
- Montrose Daily Press, 12.13.16
 

A PENTHOUSE IN TELLURIDE UP FOR AUCTION

 
 
 

It sits across the street from the historic San Miguel County Courthouse in downtown Telluride, it once housed the Elks Lodge, and it is now a luxury four-bedroom, four-bath penthouse covering the entire top floor of the Elks Building. It was previously listed at $18 million, but now will be sold at auction with no reserve on Dec. 20 by Concierge Auctions. Furnishings and art are included in the sale. Bids will be accepted at a live auction in New York or via the company's Instant Gavel app.

 
- Denver Post, 12.13.16
 

MCELMO CREEK FLUME PROJECT COMPLETED

 
 
 

A tunnel and flume system was constructed in the 1880s to bring water to the Montezuma Valley from the Dolores River. The McElmo Flume was built in 1890 as part of that system, and is the only one left standing out of the 104 wooden flumes built to provide water to southern Montezuma Valley farms and the Ute Mountain Ute Tribe. On Dec. 5, a $475,000 project to stabilize the wooden flume and create a highway pullout, parking lot and paved trail to an educational overlook was completed and dedicated. The flume, just off U.S. Highway 160 east of Cortez, is on the National Register of Historic Places.

 
- Durango Herald, 12.13.16
 

NEW SNOW: AVALANCHE DANGER INCREASES

 
 
 

On Monday, the Colorado Avalanche Information Center issued an avalanche warning for the area around Vail, as well as Summit County and much of the higher elevation of the Front Range. The CAIC classifies "high" danger as: "Very dangerous avalanche conditions. Travel in avalanche terrain is not recommended." The high danger classification is due to expire at 8 a.m. Tuesday, and conditions are expected to moderate, but more snow is forecast for later in the week.

 
- www.vaildaily.com, 12.13.16
 

HIGH-END REAL ESTATE IN THE VAIL VALLEY REMAINS STRONG

 
 
 

For the first 10 months of the year, through the end of October, there were 37 sales that closed in Vail Village at an average price of just more than $3.4 million. Those 37 sales accounted for nearly 10 percent of the dollar volume from all the sales in the county for that period. In Beaver Creek, 74 sales accounted for another 10 percent of the $1.3 billion in sales in Eagle County during the first 10 months of the year. That means about 8 percent of all the real estate sales in the county accounted for more than 20 percent of the total sales volume.

 
- www.vaildaily.com, 12.13.16
 

REI MOVING INTO SPORTS AUTHORITY SPACE IN DILLON

 
 
 

The town of Dillon and Miller Real Estate Investments announced this week that REI, the national outdoor clothing and gear retailer, will move into the old Sports Authority building in Dillon. Although all final documents have not been signed, it is expected REI will open in the spring. As part of the deal, the town will be giving REI a sales-tax rebate, which will refund a portion of the local taxes the company pays over 10 years.

 
- Summit Daily, 12.13.16
 

WESTERN SLOPE VETERANS COALITION

 
 
 

Alpine Bank is proud to support the Western Slope Veterans Coalition. A Veterans' Coffee and Donuts event takes place at the Colorado Mountain College location in Edwards on Mondays from 10 a.m. to 1 p.m. A Coffee & Donuts event also takes place every Thursday at the Glenwood Springs Branch Library from 10:30 a.m. to noon. To learn more about the Edwards event, contact Pat Hammon by e-mail at pat.hammon@eaglecounty.us. For information on the Glenwood Springs-based event, contact Greg Bak, Veterans Service officer for Garfield County, by calling 970-989-0084.

 

CASA OF THE NINTH - BE A VOLUNTEER!

 
 
 

CASA of the Ninth, in Glenwood Springs, is the local chapter of a nationwide network of organizations providing advocacy for children involved in the Dependency and Neglect system. Court Appointed Special Advocates are community volunteers dedicated to giving these children a voice in the courtroom. CASA of the Ninth will be providing another training opportunity early in February of 2017. Volunteer and bring positive change, not only to the lives of these vulnerable children, but also to their children and generations to come. For more information, contact Caleb Howald, Volunteer Supervisor, at caleb@casaoftheninth.org, or by calling 970-987-4332.

 

LPEA SEEKING APPLICANTS FOR YOUTH LEADERSHIP CAMP

 
 
 

The La Plata Electric Association invites high school juniors to participate in the Colorado Electric Education Institute Cooperative Youth Leadership Camp – an all-expenses paid educational/leadership camp set for July 15-20, 2017 at Glen Eden Resort outside of Steamboat Springs. The deadline for application is Jan. 9, 2017. Applications are available for download at www.lpea.coop, from high school counselors, or at the LPEA’s Durango and Pagosa Springs offices. For further camp information or questions, contact Jeannie Bennett at jbennett@lpea.coop or by calling 970-382-3505.

 

SEASON OF GIVING TOY DRIVE

 
 
 

Cherry Creek Radio and Alpine Bank are teaming up to support and sponsor the 2016 Toy Drive to benefit The PIC Place for Montrose and Delta counties. Please consider donating unwrapped toys for girls and boys from age’s newborn to 12 years of age. Donations may be dropped off at Alpine Bank locations in Montrose and Delta. For more information call Alpine Bank on Alpine Drive in Montrose at 970-240-0900, Alpine Bank on East Main St. in Montrose at 970-249-0400, or Alpine Bank in Delta at 970-874-0922. Toy donations will be collected until Friday, Dec. 16 to allow for time to sort the gifts to families in need.

 

GOLDEN GLOBES – 2017

 
 
 

Best motion picture – Drama
"Hacksaw Ridge"
"Hell or High Water"
"Lion"
"Manchester by the Sea"
"Moonlight"
Best motion picture – Musical or Comedy
"20th Century Women"
"Deadpool"
"Florence Foster Jenkins"
"La La Land"
"Sing Street"

 
- New York Times, 12.12.16
 
 
 
MARKET UPDATE - 12/12/2016 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
19796.43
 
+39.58
 
S&P 500
 
2256.96
 
-2.57
 
NASDAQ
 
5412.54
 
-31.96
 
10-year Treasury yield
 
2.47
 
+0.01
 
Gold (CME)
 
1163.50
 
+4.10
 
Silver (CME)
 
17.12
 
+0.22
 
Oil (NY Merc)
 
52.83
 
+1.33
 
Natural Gas ($/MMBtu)
 
3.51
 
-0.24
 
Cattle (CME)
 
110.35
 
+1.62
 
Prime Rate
 
3.50
 
NC
 
Euro (per U.S. dollar)
 
0.94
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.31
 
NC
 
Mexican peso (per U.S. dollar)
 
20.25
 
-0.13
 
30-year fixed mortgage rate (Freddie Mac 12/08/2016)
 
4.13
 
+0.05
 
*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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