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Colorado - Fri. 05/02/25 |
A Free Business Publication from Alpine Bank
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SCAMMERS STOLE MORE THAN $243 MILLION FROM COLORADANS IN 2024
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Colorado ranked seventh in the country for scam complaints per capita last year. Those scammers stole more than $243 million from Coloradans in 2024, nearly $56 million more than in 2023, according to the Federal Bureau of Investigation. People aged 60 and older were especially targeted, as 3,125 people in that age group reported losing over $74 million. The top three schemes with the largest loss in dollar amount were investment fraud ($90 million), business emails being compromised ($48 million) and personal data breaches ($23 million).
The top three schemes by the number of reports filed were extortion (2,320), phishing/spoofing (1,385) and personal data breaches (1,187). The FBI received nearly 860,000 complaints with reported losses of $16.6 billion in 2024, a 33 percent increase in losses compared to 2023. Victims of investment fraud, specifically that involving cryptocurrencies, reported the most losses out of anyone, totaling over $6.5 billion. People who feel they may have been a victim of cyber crime should file a complaint at IC3.gov.
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DENVER'S KSL CAPITAL PARTNERS ACQUIRES LUXURY VENICE RESORT
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KSL Capital Partners, which co-owns Alterra Mountain Co., purchased the JW Marriott Venice Resort & Spa in Italy, a Marriott brand hotel, from Germany-based Aareal Bank Group. No financial details of the acquisition were revealed. The purchase marks an important step toward investing more heavily in European travel, luxury and hospitality, KSL said. The purchase is the first equity transaction completed in KSL’s European Capital Solutions platform, which KSL defined as a strategy to invest in high-quality travel and leisure assets all around Europe, it said.
KSL Capital’s newly acquired, 266-room Venice Resort is located on 40 acres of its own private island, called the Isola delle Rose, located close to St. Mark’s Square. The resort opened in 2015 and includes amenities like rooftop pools, gardens, churches, cooking classes and padel courts. KSL Capital Partners owns a number of hospitality brands and resorts including Pennsylvania-based Apple Leisure Group, Australia-based Baillie Lodges and Beaumier, a European boutique hotel business.
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WORLD'S LARGEST PASSENGER PLANE DEPARTS FROM DENVER TO MUNICH
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The largest airport in North America is about to welcome the largest passenger aircraft in the world. Denver International Airport announced in January it will welcome the Lufthansa Airlines Airbus A380 as it begins passenger flights between Denver (DEN) and Munich (MUC) this summer. The first Airbus landed at DIA Wednesday. With a wingspan of more than 261 feet, 509 seats and a maximum takeoff weight of 633 tons, the German-operated giant ranks as the world’s largest passenger aircraft. This is a first for DIA as the A380 has never operated regularly scheduled commercial service from the Mile High City. The airport recently reported it had another record year, welcoming more than 80 million passengers for the first time within a full year. Denver recorded 82 million passengers in 2024, according to DIA, up from 2023’s record by nearly 6 percent. Flights will operate daily for the summer season, between April 30 through Sept. 30.
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BLUE LAKES TRAILS CLOSED FOR MOST OF THE SUMMER
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One of Colorado’s most scenic trail areas will shut down on June 2 as part of a multi-step plan to improve visitor experiences and ensure its long-term sustainability. The Blue Lakes trailhead, located off of County Road 7, about 12 miles southwest of Ridgway, will remain closed at least through August, or whenever “it is safe to access the area,” according to a statement from the Grand Mesa, Uncompahgre and Gunnison national forests. The work includes the reconstruction of the trailhead parking area, the addition of two new vault restrooms, and the installation of kiosks and interpretive panels and signs. The U.S. Forest Service will also build temporary fences to “preserve restored areas” and develop “a monitoring plan for improved visitor use metrics.”
Portions of the Dallas and Wilson Creek trails, adjacent to the trailhead, will also be closed in order to “ensure the safety of visitors and workers.” Last year, the agency decided to implement a new permitting system for hiking and camping as a way to limit overuse of the picturesque wilderness area, which is known for its three stunning, turquoise-colored lakes, set against the backdrop of the San Juan Mountains. The permit system will likely reduce the number of visitors by 40 percent, from 13,000 to 7,808 people. Permitting will likely take effect in 2026. For information on the Blue Lakes Visitor Use Management Plan, go to fs.usda.gov/project/gmug/?project=61979.
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DENVER'S CANINE BANDIT, PARK HILL DAVE, FINDS FOREVER HOME
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After nearly a year of roaming metro Denver and evading capture, the city’s cutest outlaw, a German shepherd named Park Hill Dave, has been caught and adopted into a forever home. Park Hill Dave was living as a stray on the old Park Hill golf course after escaping his Aurora home one day after he was adopted. The pup evaded city staff for months before they managed to trap him on April 23, using “a nice juicy steak” as bait. City staff tracked Park Hill Dave’s microchip to Dancing Dog Rescue in Commerce City and learned staff have been searching for him since he ran away. Now, he’s going home with Parks and Recreation Executive Director Jolon Clark. Park Hill Dave’s adoption coincides with National Adopt a Shelter Pet Day and discounted adoption costs for Denver shelter animals, according to the city. The Denver Animal Shelter is lowering adoption fees to $52.80 for the month of May for all dogs one year and older. Adoptable pets are listed online.
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CARBONDALE ROTARY FIREBALL DROP, TONIGHT AT THE VILLAGE SMITHY
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Imagine 1,000 ping pong balls being dropped from a Fire Ladder truck onto targets in downtown Carbondale! The Carbondale Rotary Fireball Drop, brought to you by Alpine Bank, takes place tonight, Friday, May 2, from 5 to 5:30 p.m., at The Village Smithy in Carbondale. The event benefits the Carbondale Rotary Club. Purchase adoption tickets for only $20 apiece for a chance to win the grand prize of $5,000! Other prize packages worth at least $250 are also available. All proceeds fund Rotary scholarships, local grants, youth services and international relief work. For more information, visit the link below.
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MESA CO. SHERIFF'S OFFICE ANNOUNCES VOLUNTEER AWARDS
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The Mesa County Sheriff’s Office announced its 2024 volunteer awards in a press release last week:
- The 2024 Detentions Volunteer of the Year Award went to Dr. Carl Malito, who volunteers three nights per week at the jail while also working as an emergency room physician. In 2024 about 25 volunteers at the jail provided 408 pairs of reading glasses to low-income inmates, 86 educational classes, 59 one-on-one educational tutoring sessions, 1,842 bible studies/religious classes and 662 one-on-one religious counseling sessions.
- The 2024 Search and Rescue Volunteer of the Year award went to Tanner Bean. “Tanner and his wife, Nallely, are both highly involved in Mesa County Search and Rescue and serve in leadership roles for the team.” In 2024 search and rescue volunteers conducted five K-9 missions, 17 swiftwater rescues, 68 ground operations and 42 missions requiring search and rescue operations for overhead. More than 80 total missions were logged using search and rescue resources.
- The Citizens on Patrol Volunteer of the Year Award went to Paul Jamison. “Paul has volunteered with the Citizens on Patrol program since 2022. He has become a leader within the program and is often the lead Citizen on Patrol volunteer at events.” The Citizens on Patrol program logged nearly 3,700 hours in 2024, which saved the office more than $150,000 in personnel pay. Of those hours, more than 500 were spent on VIN number inspections and more than 600 were spent on red-tagging and towing vehicles.
- The Victim Advocate Volunteer of the Year Award went to Eunice Marsala. “Eunice is a former nurse and has brought not only her patient care background into her role as a Victim Advocate but also brings handmade scarves and comfort items for her fellow volunteers and victims.” In 2024, Victim Advocates for the Mesa County Sheriff’s Office contacted 240 victims of crime and served more than 17,500 of on-call time. This was achieved by 22 volunteers that make up the Mesa County Sheriff’s Office Victim Advocate Program
- The 2024 Support Services Volunteer of the Year Award went to Layne Whyman. “Layne has been essential to a historic preservation project organized by the Records Unit by scanning old records into a filing and storage system. She was also essential in researching files and records for information on a very old case.” Layne is a former employee of the Mesa County Sheriff’s Office and after her retirement from another role, she returned to the agency as a volunteer.
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HELP STAMP OUT HUNGER BY DONATING TO POSTAL CARRIERS' FOOD DRIVE
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Saturday, May 10, marks the 33rd anniversary of the largest one-day food drive in the nation – the National Association of Letter Carriers' Stamp Out Hunger Food Drive. Each year on the second Saturday in May, letter carriers across the country collect non-perishable food donations from USPS customers. These donations go directly to local food pantries to provide food to people who need our help. Over its more than 30-year history, the drive has collected well over 1.9 billion pounds of food, thanks to a Postal Service universal delivery network that spans the entire nation, including Puerto Rico, Guam and the U.S. Virgin Islands.
Currently, more than 44 million Americans are unsure where their next meal will come from. More than 14 million are children who feel hunger's impact on their overall health and ability to perform in school. Nearly 5.5 million seniors over age 60 are food insecure.
Participating in this year's Letter Carriers’ Stamp Out Hunger Food Drive is simple. Just leave non-perishable food donations in a bag by your mailbox Saturday, May 10, and your letter carrier will do the rest. With your help, letter carriers and the USPS have collected over 1.9 billion pounds of food in the U.S. over the 30 plus years as a national food drive. Customers are encouraged to verify food collections with their letter carrier or by entering the delivery ZIP Code at nalc.org/community-service/food-drive/branch-lookup for local NALC Branch coverage in their area.
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ALL SIX JURISDICTIONS APPROVE DRAFT AGREEMENT FOR YAMPA VALLEY RTA
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All six Yampa Valley member jurisdictions have officially approved an intergovernmental agreement for formation of a Regional Transportation Authority, setting the stage for review by the Colorado Dept. of Transportation and neighboring governments. The approvals by Steamboat Springs, Routt County, Craig, Hayden, Oak Creek and Yampa mark the clearing of a critical hurdle for the proposed RTA, which aims to expand and improve public transportation options across the Yampa Valley. The RTA’s draft intergovernmental agreement will now be sent to CDOT and adjacent jurisdictions for review, with further opportunities for public input and final revisions expected through the summer.
RTA funding is expected to come primarily from a sales tax, with projections showing a 1 percent tax could generate about $12 million annually across the region. Steamboat Springs would contribute the largest share, around $8 million, with the remainder coming from Craig, Hayden and unincorporated Routt County. Further community outreach, including polling and surveys, is planned for May. If all goes according to schedule, voters could see the RTA formation question, and possibly its associated tax proposal, on the ballot in November. As the process continues, local leaders are urging residents to stay engaged by visiting SteamboatSprings.net/RTA.
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BRECKENRIDGE TOURISM OFFICE SAYS SUMMER BOOKINGS ARE CURRENTLY DOWN 16%
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Breckenridge Tourism Office president Lucy Kay’s recent travel outlook presentations point to a decline in consumer confidence that the industry can use to determine what upcoming travel seasons look like. Data from The Conference Board, the organization that determines the Consumer Confidence Index, demonstrated that consumer confidence is down to pandemic-era levels. Additionally, the outlook for the next six months estimates consumer confidence will be down to 2011 levels.
Kay shared data with those at the Northwest Colorado Council of Governments Regional Economic Summit on May 1 showing that nights booked in Breckenridge for this summer are down 16 percent and Summit County is down 11 percent. She highlighted a silver lining from global travel intelligence agency MMGY’s recent outlook which showed “the intent and enthusiasm to travel is really high.” She said during periods of economic uncertainty, research shows people prioritize travel over other expenses and the industry is more recession-resistant than others.
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FLAT TO FALLING HOME VALUES COULD USHER IN LOWER PROPERTY TAXES THE NEXT TWO YEARS
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Homeowners across metro Denver should finally receive a reprieve from property tax increases in the next two years after county assessors reported mostly flat to declining residential property values. Property owners, who have had to deal with 14 straight years of rising valuations and property tax bills, including a historic jump two years ago of 30 percent or higher in many places, can now breathe easier. County assessors and their staff faced a flood of angry calls and fielded double the number of protests than usual from upset property owners two years ago.
Every two years, assessors in Colorado must determine a value for residential and commercial properties, and that number goes into the formula used to determine property taxes. Properties were valued as of June 30, 2024, using transactions going back 24 months.
- In Denver County, with 240,000 residential properties, valuations declined an average of 1.6 percent, with most properties falling within a range of down 5 percent to up 5 percent. That contrasts with a 33 percent average gain in the prior two-year cycle.
- The biggest declines were concentrated along the I-25 corridor and in neighborhoods closer to downtown. Athmar Park was down 8.7 percent; Clayton and College View, both fell about 7.5 percent, North Capitol Hill was down 7.3 percent, while values fell 6.99 percent in nearby Civic Center.
- Cherry Creek values were up 11.7 percent on average, while the Belcaro neighborhood to the south saw an increase of 7 percent.
- Neighborhoods like Union Station, up 14.2 percent, and Denver International Airport, up nearly 25 percent, had larger gains, but new construction, not a newfound popularity, skewed much of those increases.
- Arapahoe County, with 228,697 residential properties, saw most homes fall in a range of change from flat to down 7 percent, while Adams County, with 207,844 properties, had declines in the 2 percent to 6 percent range for most of its homes.
- About two-thirds of homes in Douglas County, with 163,00 properties, experienced a decline in value, most of them in the single-digit range. Most properties fell within a range of down 10 percent to up 5 percent, a huge moderation from the 47 percent increase reported two years earlier.
- Boulder County, with 109,142 properties, saw a median decline of 1 percent, while Broomfield County with 27,500 properties and a lot of construction, reported the widest variation, from down 5 percent to up 25 percent.
- Jefferson County, with 224,752 properties, bucked the trend with a median increase of 2 percent.
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COLORADO'S SNOWPACK IS FOURTH LOWEST IN NEARLY 40 YEARS
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Colorado's median Snow Water Equivalent levels heading into May are the fourth lowest since winter 1986-87, after peaking April 7-9. The state's snowpack reached its highest overall percentage-of-median average in mid-January at around 95 percent, then recessed into below-average ranges for the remainder of the winter. Multiple dry and warm spells occurred during winter 2024-25, especially in southern Colorado's San Juan Mountains. From Nov. 28 to Dec. 24, Jan. 9 to 29 and Feb. 17 to March 3, Purgatory Mountain Resort received no measurable snow, marking three 15-day or longer periods with no snow recorded.
The current year's snow water equivalent level on April 30 was 7.8 inches, which was only 0.1 inches above 2018's snow water equivalent of 7.7 inches and is 59 percent of average median snowpack. Colorado's snow water equivalent percent of median on April 30, was 56 percent of median average for the date and with a snow water equivalent value of 7.8 inches.
Season snowfall totals for winter 2024-25:
- Winter Park: 360" and counting
- Copper Mountain: 340" and counting
- Vail: 324"
- Breckenridge: 322" and counting
- Loveland: 311" and counting
- Steamboat: 304"
- Aspen Highlands: 292"
- Silverton: 285"
- Snowmass: 277"
- Arapahoe Basin: 262" and counting
- Keystone: 256"
- Beaver Creek: 250"
- Aspen Mountain: 240"
- Crested Butte: 230"
- Wolf Creek: 228"
- Telluride: 223"
- Monarch: 222"
- Ski Cooper: 221"
- Eldora Mountain: 219"
- Powderhorn: 196"
- Purgatory: 173"
- Buttermilk: 163"
- Sunlight: 153"
- Howelsen Hill: 85"
- Hesperus: Never opened this season, mechanical issue
According to OnTheSnow.com, the statewide average between all the ski areas and resorts is 219 inches. Snow will fall during the month of May in Colorado's high country; however, it does not appear that winter 2024-25 will be saved by a 'Miracle in May' as in past years.
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MARKET UPDATE - 05/01/2025 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 05/01/2025)
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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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