Colorado - Fri. 01/29/21 A Free Business Publication from Alpine Bank View Online View in Browser
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NEW RULES, NEW SYSTEM IN PLACE, COLORADO RESTARTS UNEMPLOYMENT PAYMENTS

 
 
 

A second federal stimulus package, the Continuing Care Act, renewed unemployment payments in December, but payments in Colorado were delayed because the Colorado Dept. of Labor and Employment was launching a new computer system and the state did not have federal instructions on how to administer the program. On Thursday, the Colorado Dept. of Labor and Employment notified 230,000 workers they could reopen Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation beginning Monday. The restart will be rolled out in phases, according to a labor department news release.

 
- Denver Post, 01.29.21
 

OVERALL, DENVER RENTAL MARKET STAYED STABLE LAST YEAR

 
 
 

The quarterly Denver Metro Area Apartment Vacancy and Rent Survey by the Apartment Association of Metro Denver showed there was virtually no growth in rental rates in Metro Denver in 2020, but rent collection and occupancy remain remarkably stable given the economic impact of the pandemic. The average apartment rent in Metro Denver in the fourth quarter was $1,510 a month, up from $1,503 a year earlier. Colorado’s rent collection rate remained at 94 percent in December, which is only 2 percent off most months in 2019. The collection rate remained high despite the addition of 11,000 new units in the Denver area last year, many of them luxury apartments at a higher rental rate.

 
- Denver Post, 01.29.21
 

GM TO STOP MAKING GAS-POWERED, DIESEL-POWERED VEHICLES BY 2035

 
 
 

General Motors Thursday announced it has set a target of 2035 for phasing out gasoline-powered and diesel-powered vehicles. The statement in a social media post by CEO Mary Barra to go all-electric is a dramatic one as gas- and diesel-powered vehicles currently comprise 98 percent of GM’s sales and all of its profit. GM officials did say the goal of going all-electric by 2035 hinges partly on government incentives and other means of encouraging consumers to purchase electric vehicles.

 
- Wall Street Journal, 01.29.21
 

ROCKFALL WORK IN GLENWOOD CANYON COULD CAUSE DELAYS

 
 
 

Crews from the Colorado Dept. of Transportation are back to work in Glenwood Canyon to repair damage to the bike path and bridge structures from rockfalls during the Grizzly Creek Fire, and repair damage from the fire to rockfall fences and barriers. Crews are installing more than 5,000 feet of temporary fencing to prevent rocks from reaching the highway. The work is causing a Monday-through-Friday closure of the westbound lanes of Interstate 70 at several locations between Bair Ranch and Grizzly Creek. There could be 30-minute stops on Tuesdays, Wednesdays and Thursdays, according to CDOT.

 
- GS Post-Independent, 01.28.21
 

PITCO HEALTH BOARD REJECTS REQUEST TO REDUCE FROM LEVEL RED TO ORANGE

 
 
 

The mayor of Aspen Torre, and Snowmass Mayor Bill Madsen, appeared before the Pitkin County Board of Health Thursday asking the board to reopen restaurants for indoor dining under Level Orange regulations, instead of the current Level Red, which does not permit indoor dining. The county health board rejected the request from the mayors. Jordana Sabella, interim public health director, did say the COVID-19 cases have gone down in the past week and if they continue in the downward trend, the county could revert to Level Orange by next week.

 
- Aspen Times, 01.29.21
 

INTERIOR DEPT. REPORT: ONLY ABOUT 12 PERCENT OF BLM EMPLOYEES MOVED WEST

 
 
 

Responding to media inquiries about the personnel impacts of the move of the headquarters of the U.S. Bureau of Land Management from Washington, D.C. to Grand Junction, the U.S. Dept. of Interior released a report which said the move involved 328 employees potentially moving. Of that number, only 41 of the affected people moved. According to an Interior spokesperson, the rest “either retired or found new employment” between July 2019 and December 2020. The BLM currently has 480 career headquarters’ positions and 100 of those current positions are vacant.

 
- GJ Daily Sentinel, 01.29.21
 

DICK’S SPORTING GOODS COMING TO MESA MALL

 
 
 

Officials at Mesa Mall in Grand Junction Thursday confirmed the reports that Dick’s Sporting Goods will become an anchor tenant at the mall. Dick’s Sporting Goods will occupy the space of the old Herberger’s department store. That space is being remodeled and reduced from about 72,000 square feet to about 55,500, and there will be outside additions, such as benches and bike racks. Dick’s will make an announcement on the opening date later. After Sports Authority left the mall in 2016, there has not been an “all-sports” general sporting goods store at the mall.

 
- Durango Herald, 01.29.21
 

DEADLINE OF MAY 1 TO FIND LOCATION FOR HOMELESS CAMP IN DURANGO

 
 
 

The city of Durango and La Plata County have searched for years for a solution for a campsite location for the homeless community. In 2019, the county allowed camping at a temporary site, called Purple Cliffs, along La Posta Road (County Road 213), while the city took on the task of finding an alternative location. The county has given the city a May 1 deadline before it pulls its resources from the current site. The city continues to develop criteria for a site and is working with a local homeless advocacy group called Neighbors in Need Alliance to find a site.

 
- Durango Herald, 01.29.21
 

USFS HEARING OFFICER UPHOLDS BERLAIRMONT ROAD APPROVAL, WITH 8 CONDITIONS

 
 
 

Tammy Angel, the U.S. Forest Service official who served as the hearing officer for an objections hearing regarding the USFS approval of the Berlairmont Estates access road, has upheld the approval decision. However, in her 37-page conclusion, Angel identified eight specific areas where the White River National Forest staff must provide addition rationale. Five of those areas deal with wildlife. Once the White River National Forest Service provides answers to the eight areas, the supervisor can sign the Record of Decision. After the written response from the WRNF, there is no further administrative review and once the record of decision is issued, it can be litigated.

 
- www.vaildaily.com, 01.29.21
 

STEAMBOAT RESORT STARTS PLAN TO MOVE GONDOLA

 
 
 

The Steamboat Ski & Resort Corp. has applied to the Steamboat Springs Planning and Community Development Department for a permit to move the base terminal of the gondola 300 feet to the east, over Burgess Creek, onto the base of the mountain. According to the request, which requires only the approval of the planning and community development department and not the city council, the move would include the gondola terminal itself, an operator cabin for the gondola, a platform for loading and other space for equipment. The move is the first phase of the Ski Corp.’s plan to build a new Wild Blue gondola, which would be the longest eight-person gondola in North America.

 
- Steamboat Today, 01.29.21
 

WE ARE READY TO TRAVEL AGAIN…SORT OF

 
 
 

The American Hotel & Lodging Association released its “AHLA’s State of the Hotel Industry 2021” report which showed:

  • 56 percent of Americans said they are likely to travel for leisure in 2021
  • However, 48 percent said their willingness to travel is tied to vaccination in some way
  • Business travel is not expected to return to 2019 levels until 2023 or 2024
  • Business travel will remain down 83 percent compared with 2019 levels through April then only tick upward slowly
  • Enhanced cleaning and hygiene practices are now consumers’ No. 2 priority, behind price, when booking hotels, according to the AHLA study
  • Among travelers, 34 percent are comfortable with staying in a hotel
 
- CNBC.com 01.28.21 , 01.28.21
 
 
 
 
 
 
 
 
MARKET UPDATE - 01/28/2021 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
30603.36
 
+300.19
 
S&P 500
 
3787.38
 
+36.61
 
NASDAQ
 
13337.16
 
+66.56
 
10-year Treasury yield
 
0.64
 
+0.02
 
Gold (CME)
 
1837.90
 
-7.00
 
Silver (CME)
 
25.90
 
+0.53
 
Oil (NY Merc)
 
52.34
 
-0.51
 
Natural Gas ($/MMBtu)
 
2.66
 
-0.10
 
Cattle (CME)
 
116.00
 
-0.45
 
Prime Rate
 
3.25
 
NC
 
Euro (per U.S. dollar)
 
0.82
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.28
 
NC
 
Mexican peso (per U.S. dollar)
 
20.25
 
-0.03
 
30-year fixed mortgage rate (Freddie Mac 01/28/2021)
 
2.73
 
-0.04
 
*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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