|
Colorado - Wed. 04/09/25 |
A Free Business Publication from Alpine Bank
|
|
View in Browser
|
|
|
| |
COLORADO'S SNOWPACK AT LOWEST LEVEL SINCE 2018
|
| |
|
|
| |
Colorado will end the 2024-25 winter season with the lowest snowpack total since 2018. Southern Colorado received below-average snowfall while northern Colorado received just under average snowfall during the La Niña affected winter. April 8 is the average median peak date Colorado's river basins crest at, with snow water equivalent reaching its fullest potential and averaging 16.9 inches of snow water equivalent locked up in the snowpack.
Colorado's state-wide snowpack on April 8 was 88 percent of median average with 13.6 inches of snow water equivalent measured at the 115 monitoring sites around the state. This data point is 3.3 inches below the median average as the state heads into seasonal run-off. An increased or expanded fire season is possible for southern Colorado due to the lack of precipitation that fell as snow as well as the fire season could start earlier in the year, as early as mid- to late-May. Drought will also be a concern heading into spring and summer.
|
| |
|
|
|
| |
TARGET'S DIA PLANS MOVE FORWARD WITH $7 MILLION LAND BUY
|
| |
|
|
| |
Target is looking to be the bull’s-eye in a new 150-acre development near DIA. The national retailer purchased 10.6 acres along 56th Avenue just west of Tower Road for almost $7 million last week. It plans to build a 151,000-square-foot store there. A Target spokesperson said no opening date for its Green Valley Ranch store has been set yet. The new store will anchor a 150-acre master-planned development, dubbed Link 56, in the blocks between 56th and 60th Avenues along Tower Road. Illinois-based developer Kensington and British firm IM Properties purchased the development site for nearly $30 million at the end of March.
Development plans call for 30 acres of retail along 56th and Tower, with 2,000 residential units filling in the interior of the square-shaped site situated just south of the 61st & Peña Station light rail stop. Kensington and IM will also dedicate 27 acres for parks and open space, connecting the development to the Rocky Mountain Arsenal National Wildlife Refuge. Target’s construction will be part of the first phase of development. That work also includes building 214 apartments across 13 buildings, creating 170 two-story townhomes on 11 acres and dropping in more retail to complement them.
|
| |
|
|
|
| |
NUGGETS FIRE HEAD COACH, GENERAL MANAGER
|
| |
|
|
| |
Less than two full seasons after winning their first NBA championship, the Denver Nuggets fired head coach Michael Malone and general manager Calvin Booth, in a move that surprised players and staff with three games remaining before the 2025 playoffs. The move comes after a season-worst four-game losing streak that has jeopardized Denver’s chances of making the playoffs for a seventh consecutive year. Malone, 53, was the fourth-longest tenured head coach in the league and the winningest coach in franchise history with a regular-season record of 471-324 in 10 years at the helm, plus 44 playoff wins. He is the only head coach Nikola Jokic has ever played for in the NBA.
Nuggets lead assistant David Adelman, who joined Malone’s staff in 2017, will take over as interim head coach for the remainder of the season. Denver faces the Sacramento Kings in a road game Wednesday (8 p.m. MT). Booth, 48, was in the final year of his contract as general manager. He has worked in Denver’s front office since 2017 and held the GM title since July 2020, when former president of basketball operations Tim Connelly promoted him to replace Arturas Karnisovas.
|
| |
|
|
|
| |
WESTERN ENERGY ALLIANCE NAMES NEW PRESIDENT
|
| |
|
|
| |
Western Energy Alliance has a new president. The oil and gas trade association’s current president Kathleen Sgamma was nominated by President Donald Trump to run the Bureau of Land Management. The group based in Denver announced last week it hired Melissa Simpson to take over for Sgamma as she joins the White House administration. Simpson has more than two decades of experience in natural resources, energy, public lands and conservation. Simpson will begin April 16.
Simpson previously worked as the director of global government affairs at Sempra, a public utility company based in San Diego. She focused primarily on liquified natural gas exports and emissions verification. She has also worked at the federal level on energy policy. Before Sempra, Simpson was the deputy assistant secretary for the Bureau of Energy Resources during Trump’s first term. She also was the deputy undersecretary of natural resources and environment at the Dept. of Agriculture, as well as the counselor to the assistant secretary for Land and Minerals Management at the Dept. of the Interior under the George W. Bush administration.
|
| |
|
|
|
| |
'A MINECRAFT MOVIE' IS SMASHING BOX OFFICE RECORDS - WHILE SPARKING DISRUPTIVE BEHAVIOR IN THEATERS
|
| |
|
|
| |
“A Minecraft Movie” easily nabbed the best domestic opening weekend of the year so far with $163 million, leading theaters nationwide to their highest-grossing weekend in five months after a dismal start to the year. The film’s opening weekend total is the best for a film since “Deadpool & Wolverine” last summer, and it surpassed the opening grosses of box office smashes “Barbie” and “The Super Mario Bros. Movie,” edging out the latter to earn the best opening weekend for a video game film adaptation. “A Minecraft Movie” stunned by outperforming opening weekend projections. Deadline projected it would gross $65 million, while Variety projected it would earn $70 million, prior to the film’s huge $163 million opening.
Many videos on TikTok show disruptive audiences standing up and erupting into shouts, the raucous audience reactions garnering millions of likes. Some theaters have warned attendees against disrupting “A Minecraft Movie” screenings. The Cineworld chain told the BBC in a statement it has created special screenings for fans who want to be loud during the film.
|
| |
|
|
|
| |
COMMUNITY CHAMPIONS HONORED AT 2025 GARFIELD COUNTY HUMANITARIAN AWARDS
|
| |
|
|
| |
The 2025 Garfield County Humanitarian Awards, on Monday night, recognized four locals whose compassion, service and vision have left lasting marks on the valley. Honorees included Dee Warwick, Patricia Horwitz, Quinn McSwain and Rita Marsh.
- Heart and Soul award: Dee Warwick was honored for her longtime leadership of Grand River Meals on Wheels. In addition to coordinating the delivery of more than 120 meals a day to homebound seniors, she has become a familiar, friendly face for some of Garfield County’s most vulnerable residents.
- Lifetime Service award: Patricia Horwitz, founder of Sopris Therapy Services, received the Lifetime Service award for more than three decades of quiet, determined work serving others. Her nonprofit introduced equine-assisted therapy to the region, helping individuals with disabilities experience healing and joy in a ranch setting. She’s supported at-risk youth, disabled veterans and people overcoming addiction, and has served on the Human Service Commission since 2001.
- Taking Flight award: Glenwood Springs High School senior and JROTC cadet Quinn McSwain was the youngest honoree of the night and received the Taking Flight award for his outstanding leadership, service and commitment to community. He’s participated in fundraisers, food drives, color guard ceremonies, and even led a 14-mile Memorial walk to honor the victims of the Bataan Death March. Last summer, he completed a rigorous flight training program at Embry-Riddle Aeronautical University and earned his pilot’s wings, all while maintaining a 4.0 GPA and near-perfect attendance.
- Wellness Visionary award: Rita Marsh was recognized as a Wellness Visionary for her decades of dedication to healing, health and connection. A former ER nurse and certified nurse practitioner, Marsh co-founded the Center for Human Flourishing and helped lead events like Spring into Wellness, plant-based potlucks and sound healing sessions that have touched thousands of lives across the valley.
|
| |
|
|
|
| |
PITCO TO GIVE $2M MORE TO HOUSING COALITION
|
| |
|
|
| |
Development-neutral regional affordable housing proved worthy of $2 million over the next two years for the Pitkin Board of County Commissioners. West Mountain Regional Housing Coalition Executive Director April Long presented an update on the nonprofit’s activity in its first year of buydowns. The BOCC supported a $1 million allocation of its affordable housing fund for 2025 and another $1 million in 2026. Its primary program is the Good Deeds program, which assists free-market homebuyers with purchase prices in exchange for a deed restriction on the property. It’s the first formal allocation of property tax revenue from the county’s affordable and workforce housing mill levy approved by voters on the November ballot. After approval, the BOCC earmarked $9 million of the affordable housing funding for partnerships, specifically calling out WMRHC as a potential partner. The $2 million will come from the 2025 and 2026 budgets.
In 2024, the WMRHC facilitated nine free-market home buydowns by contributing 30 percent of the purchase price for the buyer — 28 bedrooms in total. A deed restriction is then placed on the property. The owner must annually qualify, proving that the property as their primary residence, they are locally employed and do not own any other residential property. The program affords a 3 percent annual appreciation for the home price and some capital improvement allowances. There is no income limit for program participants, a strategy that Long said is meant to target high-earning locals who are still priced out of the housing markets.
|
| |
|
|
|
| |
EFFORT TO CONSERVE EAST VAIL OPEN SPACE GETS $5M FROM EAGLE COUNTY
|
| |
|
|
| |
|
The Eagle County Board of Commissioners unanimously agreed to use $5 million in open space funds to help preserve a 148-acre East Vail parcel that’s home to a herd of bighorn sheep. The deal will help offset some of the cost of the town of Vail’s $17.5 million purchase in 2023 of a 23-acre parcel from Vail Resorts to preserve a portion of the property. Eagle County Open Space and Natural Resources Director Marcia Gilles told the commissioners how the project had been through an evaluation process by the county’s Open Space Advisory Committee. That process began in 2023 and met four of that committee’s six criteria for funding projects. The biggest is the presence of an “endemic herd” of bighorn sheep that uses the property as critical winter range. Vail Town Council Member Jonathan Staufer noted the herd has probably been in the area “since at least the last ice age.” The parcel will be put under a conservation easement managed by the Eagle Valley Land Trust.
|
| |
|
|
|
| |
BRECKENRIDGE INTERNATIONAL FESTIVAL TO BE U.S. PREMIERE OF INTERNATIONAL ART EXHIBIT
|
| |
|
|
| |
|
The 2025 Breckenridge International Festival of Arts will be taking place Aug. 15-24. This year’s festival explores the interconnections between the natural world and human expression. The annual event is a ten-day celebration of the arts that invites visitors on a transformative journey, combining adventure, creativity, nature and play. This year’s new addition is the United States public premiere of Studio Roosegaarde’s “SPARK,” a poetic, sustainable installation of biodegradable light sparks that float 160 feet up in the air. The installation serves as a key promotional piece for the town’s DarkSky initiative, an international effort to reduce light pollution for environmental and human health benefits. More detail on the Breckenridge International Festival of Arts can be found at BreckCreate.org/bifa.
|
| |
|
|
|
| |
ALPINE BANK AURORA HOSTS GRAND OPENING CELEBRATION
|
| |
|
|
| |
|
Alpine Bank is celebrating the grand opening, Saturday, April 12, of its newest location in Aurora with a community event featuring live music, food and fun! Attendees can participate in giveaways, a cash booth, enjoy free food from local vendors and take part in family-friendly activities from noon to 2 p.m. As part of its commitment to community engagement, Alpine Bank Aurora will also make a charitable gift to the Aurora Public Schools Foundation and CrossPurpose, two organizations dedicated to education and economic opportunity. Additionally, the event will showcase a performance by Colorado Youth Mariachi, a nonprofit organization dedicated to preserving mariachi traditions among young musicians. Alpine Bank Aurora is located at 2000 Chester St., Suite A, near E. Montview Blvd. and Clinton St. just three blocks south of the Stanley Marketplace.
|
| |
|
|
|
| |
WEST ELK MINE REMAINS STATE LEADER IN COAL PRODUCTION
|
| |
|
|
| |
Colorado coal production declined somewhat last year but increased at the North Fork Valley’s West Elk Mine, which continues to lead mines in the state in production. Statewide production was just over 11 million tons in 2024, down from about 11.7 million tons in 2023, according to recently released Colorado Division of Reclamation, Mining and Safety data. However, West Elk production grew from about 3.42 million tons to 3.7 million tons. Much of last year’s drop is attributable to Blue Mountain Energy’s Deserado Mine in Rio Blanco County, which saw production fall to 2.33 million tons from about 3 million tons the previous year. Deserado last year continued to rank second in production behind West Elk.
- Production at the Colowyo Mine totaled about 1.9 million tons, and the Trapper Mine produced 1.52 million tons. Both supply the nearby Craig Station power plant outside Craig. Trapper’s production was down a bit from 2023, while Colowyo’s increased by about 200,000 tons.
- Production at the Foidel Creek Mine in Routt County totaled about 1 million tons last year, and the King II Mine in La Plata County produced 579,605 tons.
- Combined, the mines employed 958 miners as of the end of the year, with West Elk leading in employment, with 274 miners.
- West Elk’s production in 2023 had been constrained somewhat by geological challenges, an issue that had been expected to end once it moved to more favorable geological areas. The mine returned to strong production by late 2023.
- Under a legal settlement, the Deserado Mine’s sole customer, the Bonanza power plant just across the border from it in Utah, must stop burning coal once it finishes burning 20 million tons of coal during this decade. The mine employs 148 miners.
- One of the three power generating units at the Craig Station is scheduled to shut down at the end of this year under an agreement with regulators to address regional haze problems. Remaining generation at the plant, operated by Tri-State Generation and Transmission Association, is scheduled to end in 2028. The plant is the sole customer of the Colowyo and Trapper mines, which combined employ 255 miners.
- The Foidel Creek Mine provides coal to the nearby Hayden Station power plant, which also is slated for closure by 2028, and northwest Colorado is bracing for the upcoming economic impacts of losing both power plant and mining jobs.
Coal production in Colorado peaked in 2004 at nearly 40 million tons. Domestic demand for thermal coal has been impacted in recent decades as utilities have faced regulatory pressure to shift to cleaner power sources and the cost of renewable energy such as wind and solar has fallen.
|
| |
|
|
|
|
|
|
| |
|
MARKET UPDATE - 04/08/2025 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 04/03/2025)
|
| |
|
|
|
|
|
*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. |
| © 2025 Alpine Bank. |
| |
|
|
