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Colorado - Tue. 01/30/24 |
A Free Business Publication from Alpine Bank
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COLORADO COMMITS $20M TO HELP PURCHASE HISTORIC WESTERN SLOPE WATER RIGHTS
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Colorado’s top water policy agency voted unanimously Monday to contribute $20 million toward purchasing Shoshone Power Plant water rights from Xcel Energy. It’s the latest step in a long process to finalize the deal, which comes with a $98.5 million price tag. Western Slope water leaders see Shoshone water rights as a linchpin for their future water security in face of the Colorado River’s unpredictable flows. The power plant in Glenwood Canyon has some of the oldest water rights directly on the Colorado River in Colorado. This seniority means Shoshone gets its full water supply even in times of shortage. Because the power plant can demand water year-round, and because it returns all of the water it uses to the river, Shoshone has major benefits for the environment and water users farther downstream. Nearly 20 Western Slope towns, counties, water providers and others submitted letters to the Colorado Water Conservation Board in support of the deal.
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COLORADO TRAFFIC FATALITIES DECREASE, PEDESTRIAN AND CYCLISTS' DEATHS INCREASE
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Colorado saw a notable decrease in overall traffic fatalities last year, but deaths among pedestrians and cyclists increased significantly, state officials reported. Data showed a 6 percent decrease in traffic fatalities on Colorado roads last year, as compared to 2022, the first decline since 2019. This past year, Colorado saw 716 traffic deaths. Of the total, 408 were passenger deaths; 134 were motorcycle deaths; 227 were impaired driving deaths; 216 were unbuckled seat belt deaths; 133 were pedestrian deaths; 20 were bicycle deaths; and 16 were construction zone deaths. Pedestrian, bicycle and construction zone deaths all increased from 2022 to 2023, while the fatalities in all of the other categories decreased.
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HOW MUCH MONEY WILL BE BET ON THE SUPER BOWL?
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The American Gaming Association (AGA) estimated that a record 50.4 million people in the U.S. bet on last year’s Super Bowl. The number of people expected to wager on the 49ers versus Chiefs in this year's Super Bowl is expected to increase significantly. Legal Sports Report projects that a record $1.3 billion will be bet on Super Bowl 58. That would break the previous mark by 20 percent. More than half of American adults (57 percent, 146 million) now live in a legal, live sports betting market. This year, more states than ever will take legal sports wagers on the Super Bowl. The AGA reports that 30 million adults plan to place traditional sports bets online, at a retail sportsbook or with a bookie. That is up 66 percent from last year. In addition, 28 million people plan to bet casually with friends or as part of a pool or squares contest. That is up 50 percent from last year.
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BASALT PREPARES FOR FUTURE WITH EXPANSION
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A joint public works-police building off of Colorado Hwy. 82 in Basalt looks like it could exponentially increase each department’s square footage, expanding to meet the needs of the growing midvalley. Basalt Town Council got a look at early plans for the new public works/police department space set near the Hwy 82/Original Road intersection at their Jan. 23 work session. The town bought the parcel in 2020 for $1.6 million. Roger Schroepfer of Wold Architects and Engineers presented early plans for both the Basalt Police Dept. and Basalt Public Works. The plans predict an approximate $28.4 million price tag across all project goals: a new police department, public works office space, and storage space for public works equipment. The police department takes the lion’s share of the budget, estimated at $18.1 million. The public works offices and storage budgets are about the same, $5.1 million and $5.2 million, respectively.
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HOSPICE CONFERENCE SET FOR FEB. 23 IN GJ
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HopeWest, in collaboration with Community Hospital, will host the Western Slope Hospice and Palliative Care Conference, scheduled for Feb. 23, from 8 a.m. to 5 p.m., at Community Hospital in Grand Junction. Online attendance is also available. The event is designed to provide a comprehensive educational opportunity for healthcare professionals, focusing on hospice and palliative care, advance directives, and effective management of specific symptoms. Topics will cover updates in dyspnea management, palliative pain management, communication skills, and more. There are also specific sessions on advanced directives and the management of behavioral disturbances in delirium and dementia. To register for the conference, visit HopeWestCO.org/hpc-conference.
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DURANGO-LA PLATA COUNTY AIRPORT BREAKS RECORD FOR TRAFFIC IN 2023
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Durango-La Plata County Airport had a busy year, as it experienced record-breaking traffic numbers. There were 431,828 passengers that traveled through DRO in 2023, an 8.7 percent increase over the prior record set in 2021, according to the City of Durango. Airline seat capacity was up 19 percent from 2022 levels, with both American Airlines and United Airlines injecting significant year-over-year seat capacity into the market. United Airlines carried 51 percent of passengers in 2023. American Airlines carried the remaining 49 percent. The percentage of seats sold finished at 79 percent, matching the figure from 2022. American Airlines also started offering additional flights to Dallas Fort Worth International Airport and Phoenix Sky Harbor International Airport. United Airlines restored summer seasonal flights to Houston’s George Bush Intercontinental Airport, and the average aircraft size increased by introducing daily service on a larger Airbus A319 aircraft.
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VAIL BIGHORN INITIATIVE RECEIVES AWARD
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The Vail Bighorn Initiative was awarded the “Outstanding Achievement Award” at the Wild Sheep Foundation’s 2024 Sheep Show in Reno, Nevada. The local initiative is a citizen-led effort to conserve and protect the Gore Range S2 Bighorn Sheep herd’s crucial winter habitat on the Booth Heights parcel in East Vail. The Wild Sheep Foundation, a global group dedicated to wild sheep conservation and other mission programs, recognized the Vail group’s fundraising and advocacy efforts — “growing a grassroots local effort into a nationwide campaign that raised over 700 individual donations from 26 states” — to help the town of Vail acquire the East Vail parcel. Kim Langmaid, former Vail mayor, took the stage at the Sheep Show with the Vail Bighorn Initiative leadership team to accept the award. The 2024 Sheep Show drew over 10,000 attendees from 48 states and 15 countries. The four-day show raised over $12 million for wild sheep conservation.
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SUMMIT COUNTY OUTDOOR COALITION AWARDED $100,000 GRANT
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The Summit County Outdoor Coalition received a $100,000 grant to help support a vision of sustainable growth and inclusive recreation into the future, according to a news release from Gov. Jared Polis’s office. The governor’s office, as well as Colorado Parks and Wildlife and Great Outdoors Colorado, announced this week that the Summit County organization was one of five grant recipients for the Outdoor Regional Partnership Initiative. The initiative funds regional coalitions that bring together broad interests to ensure Colorado’s lands and waters thrive to sustain healthy wildlife and treasured outdoor recreation opportunities, the release states. The funds will support strengthening the coalition’s foundation with community engagement and landscape condition mapping that will help inform a vision for ensuring sustainable growth, fostering inclusive recreation, protecting critical wildlife habitat and enhancing ecosystem resilience.
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PINK NIGHT IS BACK: FEB. 17
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Mercy Hospital Foundation is proud to partner with Alpine Bank and Fort Lewis College for another PINK NIGHT on Feb. 17. Fort Lewis College's basketball teams will play Western Colorado University at the Whalen Gymnasium in Durango. Everyone is invited for an evening of good basketball and good fun – all for a great cause! Pink Night, a celebration of unity for breast care and early detection, will raise funds for Mercy Breast Care Center which performs more than 7,000 mammograms annually for patients in the Four Corners region. Games start at 4 p.m. For tickets, visit the link below. Alpine Bank is a proud sponsor of this event.
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VOC ACCEPTING APPLICATIONS FOR NATURAL RESOURCES SCHOLARSHIPS
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For the seventh year, Volunteers for Outdoor Colorado (VOC) is accepting applications for the Grossman Scholarships. The scholarships are awarded to Colorado residents who have demonstrated a commitment to caring for our environment’s natural resources and intend to pursue post-secondary education through an accredited environmental, natural resource, climate or outdoor industry-related education program in Colorado. VOC will award a total of $45,000 in scholarships for the 2024-2025 school year, thanks to the generosity of former VOC Board Member Rick Grossman, and his wife, Susie Grossman. The maximum scholarship is $10,000. For eligibility requirements, more information can be found at voc.org/grossman-scholarship. To learn about volunteering, visit voc.org. Applications are due by Feb. 26, 2024, at 11:59 pm MST.
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WORST TRAFFIC IN THE U.S.
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In January, geolocation technology specialist TomTom released its annual Traffic Index for 2023. The ranking includes the U.S. cities with the worst traffic, and was calculated by assessing the time, cost, and CO2 emission per mile driven and simulating how long it takes to complete a six-mile trip within a city for typical EV, petrol and diesel cars. California is the only state that had two cities rank in the top 10: San Francisco and Los Angeles. Top 10 U.S. cities with the worst traffic:
- New York City
- Washington, D.C.
- San Francisco
- Boston
- Chicago
- Baltimore
- Seattle
- Philadelphia
- Los Angeles
- Miami
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MOST EXPENSIVE U.S. NEIGHBORHOODS PER SQUARE FOOT
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South of Market is a historic San Francisco downtown district with museums, a vibrant nightlife and a desirable mix of loft buildings and high-rise luxury condominiums. It's also the most expensive neighborhood in the U.S., as measured by price per square foot, according to a new analysis of December 2023 home listings by online real estate portal Homes.com. The cost per square foot in South of Market, also known as SoMa, is $5,415. That’s around 2,000 percent higher than the overall U.S. average of $244. Here are the 15 most expensive U.S. neighborhoods, ranked by price per square foot:
- South of Market, San Francisco: $5,415
- Northwest Auburn, Auburn, California: $4,416
- Old Town Carpinteria, Carpinteria, California: $4,129
- Downtown Bellevue, Bellevue, Washington: $3,619
- Port Royal, Naples, Florida: $3,375
- Aqualane Shores, Naples, Florida: $3,132
- Stinson Beach, California: $2,988
- Star, Palm & Hibiscus Islands, Miami Beach, Florida: $2,861
- Crystal Cove, Newport Beach, California: $2,771
- Casa del Lago, Palm Beach, Florida: $2,754
- West Village, New York City: $2,680
- Metropolitan Hill, New York City: $2,537
- Fisher Island, Miami: $2,511
- Hudson Square, New York City: $2,401
- Jupiter Island, Florida: $2,394
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MARKET UPDATE - 01/29/2024 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 01/25/2024)
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*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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