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Colorado - Wed. 02/11/26 |
A Free Business Publication from Alpine Bank
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RECORD SNOW DROUGHT IN WESTERN U.S. RAISES CONCERNS OVER WATER SHORTAGES & WILDFIRES
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A record snow drought combined with unprecedented winter warmth is gripping much of the American West, raising alarms about future water supplies, wildfire risk and impacts to winter recreation, scientists said. Snow cover and snow depth are at their lowest levels in decades, with at least 67 Western weather stations recording their warmest December through early February on record. Normal snow cover for this time of year is about 460,000 square miles, but current coverage is closer to 155,000 square miles, according to the National Snow and Ice Data Center. Since Dec. 1, more than 8,500 daily high-temperature records have been tied or broken across the region.
Oregon, Colorado and Utah are reporting their lowest statewide snowpack since the early 1980s, with Oregon’s snowpack 30 percent below its previous record low. Scientists said much of the precipitation that would normally fall as snow is instead falling as rain, running off quickly and reducing water stored for spring and summer. Experts warned the lack of snow could also lead to an earlier and more intense wildfire season, though some wetter, cooler weather is forecast that may modestly reduce deficits.
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NATIONAL ENERGY LAB IN GOLDEN LAYS OFF 134 EMPLOYEES
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The National Lab of the Rockies in Golden laid off 134 employees Monday as it adjusts to shifting federal priorities and funding levels, according to a statement from the lab. The cuts affect both research and operations staff, though specific roles were not disclosed. The lab, formerly known as the National Renewable Energy Laboratory, was renamed by the U.S. Dept. of Energy in December as part of a broader effort to distance the agency from climate-focused initiatives and de-emphasize renewable energy research under the Trump administration. The layoffs follow a previous round in May that eliminated 114 positions. National labs are federally owned, contractor operated facilities primarily funded through the DOE, and officials said the latest reductions were made to align with current and projected budgets. The Golden lab was founded in 1973 in response to the oil crisis and has historically focused on energy technology research, particularly renewable power.
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GLENWOOD CAVERNS FILES CHAPTER 11 BANKRUPTCY FOLLOWING $116 MILLION VERDICT IN 2021 RIDE DEATH
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Glenwood Caverns Adventure Park filed for Chapter 11 bankruptcy protection Monday after a final judgment of more than $116 million was entered against the company in a wrongful death case tied to the 2021 death of 6‑year‑old Wongel Estifanos. The park’s owner, Glenwood Caverns Holdings LLC, filed in U.S. Bankruptcy Court in Delaware, citing liabilities far exceeding its roughly $5 million in liability insurance coverage. A Garfield County jury initially awarded more than $205 million in damages, though post‑trial rulings reduced the amount owed by the park to just over $116 million.
Separate judgments were entered against ride manufacturer Soaring Eagle for about $58 million, while two ride operators were ordered to pay smaller amounts. The Haunted Mine Drop ride was closed after the incident and later reopened in June 2023 with redesigned safety features under a new name, Crystal Tower. In a statement, the park said it will remain open and continue normal operations while reorganizing its finances. Court filings list between $10 million and $50 million in assets and between $100 million and $500 million in liabilities.
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CITY OF ASPEN SELECTS 520 GRILL FOR 455 RIO GRANDE PLACE
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Aspen City Council voted unanimously Tuesday to award the subsidized restaurant lease at 455 Rio Grande Place to 520 Grill, citing its 15‑year track record, kid‑friendly menu and lowest perceived risk among finalists. The $5,200 per month lease, with a possible profit‑share component, now moves into negotiations after all three finalists indicated they would seek amendments. Councilors noted concerns about menu prices but acknowledged they cannot regulate them. The space opened after Yogi’s was removed for unpaid rent, and 520 Grill emerged from an initial field of 12 applicants. Councilor Bill Guth recused himself due to a conflict, and the final lease will return to council for approval once negotiations conclude.
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ENTRANCE PROJECT COULD COST UP TO $400 MILLION, SAYS EARLY ESTIMATE
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Aspen officials say the long‑debated entrance‑to‑Aspen project could cost $300 million to $400 million, based on a very preliminary estimate shared with City Council and Pitkin County commissioners. The city is midway through a 12‑ to 18‑month reevaluation of the 1998 preferred alternative, which would reroute two general‑traffic lanes and two bus‑only lanes of Highway 82 across the Marolt Open Space with a cut‑and‑cover tunnel and possible upgrades to the Maroon Creek roundabout. The city is working with CDOT, the Federal Highway Administration and Jacobs Engineering, and expects those agencies to fund most of the project, though some local contribution is likely. Modern traffic modeling and environmental updates may lead to design modifications, and a new website and a mid‑March open house will launch public engagement. Federal workforce reductions and last fall’s shutdown have slowed progress, but the city still hopes to finish the reevaluation within 18 months.
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MILLIONS OF SQUARE FEET IN NEW CONSTRUCTION PLANNED ACROSS ROUTT COUNTY
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Hundreds of community members gathered in Steamboat Springs to hear a 2026 real estate forecast outlining millions of square feet of new residential, lodging and commercial development planned across Routt County in coming years, with projects ranging from Hayden to southern Routt County. The largest proposed development is The Stockman, a $550 million luxury mixed-use project planned at the Steamboat Resort base between the TBar and Slopeside Grill, where the Wrangler lift is currently located.
Developed by Alterra Mountain Co., the project is expected to break ground this spring and includes 440,000 square feet of space with restaurants, hotel rooms, residences, event space and parking. Plans call for 59 hotel rooms, 95 residences, public food and beverage venues and ski-in, ski-out access, with construction expected to take about three and a half years and open in early 2030. City officials said final plat approvals have been granted with conditions related to infrastructure and drainage improvements.
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DILLON LAKE LOOPS WINTER TRAIL WILL NOT OPEN IN 2026
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The town of Dillon announced it will not maintain the Dillon Lake Loops during the 2026 winter season after the reservoir experienced its second latest freeze on record, preventing conditions from reaching the consistency needed to safely prepare and manage the trail. Town officials said on the municipal website that ice thickness never met safety standards required for grooming and maintenance this winter. The Lake Loops are a multi-use winter trail offering walking, cross country skiing, skate skiing, snowshoeing and fat biking when conditions allow. During winters when the loops are open, the town conducts weekly ice measurements to monitor safety. Officials advised residents and visitors to use caution around the reservoir and to enjoy other winter recreation opportunities in Dillon.
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MCWC ANNOUNCES 2026 FIRE & WATER SPEAKER SERIES IN GLENWOOD SPRINGS & RIFLE
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The Middle Colorado Watershed Council announced its 2026 Fire & Water Speaker Series, a slate of community events running February through April that explore how water, wildfire and human systems shape life in the Colorado River Basin. Presented by Hotel Colorado, the series opens Thursday, Feb. 26, from 6 to 8:30 p.m. with How Water Made the West, an author talk and book signing featuring hydrologist Robert R. Crifasi at Hotel Colorado in Glenwood Springs. Crifasi will examine Western water history, infrastructure and legal systems through archival imagery and plain‑language storytelling, followed by audience Q&A and a book signing. Admission is by donation, with beverages and appetizers provided, and advance RSVP is required.
Additional events include a March screening of the documentary The American Southwest with filmmaker Ryan Olinger and an April wildfire‑focused program featuring the film Elemental, an expert panel and a hands‑on fire safety simulator. Organizers said the series is designed to foster accessible, story‑driven learning and community dialogue around water and wildfire resilience. For more information and event registration, visit online at the link below.
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WINTER BIKE TO WORK DAY RETURNS FEB. 13
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Durango’s annual Winter Bike to Work Day will take place Feb. 13, offering a full morning of commuter stations, a weeklong sustainable‑commute challenge, and an evening afterparty tied to the kickoff of the Camino Crossing underpass design project. The event encourages winter riding, celebrates sustainable transportation, and adds a new art competition for this year’s swag and posters. Morning commute stations will be open from 7 to 9 a.m. on Feb. 13. The Way to Go Durango Commute Challenge runs through Feb. 13, with participants logging sustainable trips for a chance to win a bag of coffee from Desert Sun Coffee Roasters.
The Camino Crossing kickoff afterparty will be held from 4:30 to 6:30 p.m. at the Powerhouse, 1333 Camino del Rio, featuring music by Stillhouse Junkies, beer donated by Carver Brewing, and heavy appetizers. Bike Durango will lead a parade to the event, meeting at 4 p.m. at Buckley Park, 1250 Main Ave., with a 4:20 p.m. rollout. For more information, visit tinyurl.com/42cxmuys.
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A MOTHER APART — GRAND JUNCTION | EVERYDAY DEMOCRACY SERIES
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Rocky Mountain Public Media is launching its Everyday Democracy: Stories That Build Us community film‑and‑conversation series in Grand Junction with a screening of A Mother Apart Wednesday, Feb. 18, at the Mesa County Central Library Community Room. Doors open at 5:30 p.m., and the film begins at 6 p.m. The documentary follows Jamaican‑American poet Staceyann Chin as she searches for the mother who left her behind, tracing a journey across Brooklyn, Montreal, Cologne and Jamaica. The film explores themes of lineage, identity, forgiveness and chosen family.
After the screening, attendees will join self‑facilitated small‑group conversations designed to encourage listening, curiosity and compassion across different life experiences. Snacks and drinks are provided. The event is produced with support from Mesa County Libraries and in collaboration with the award‑winning PBS documentary series POV. It is part of Rocky Mountain Public Media’s Above the Noise statewide civic‑dialogue initiative. For more information and to register, visit online at the link below.
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COLORADO LAWMAKERS KILL PROPOSAL ALLOWING LOCAL GOVERNMENTS TO TAX VACANT HOMES
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Colorado lawmakers rejected House Bill 1036 on Monday after a 7–4 vote in the House Finance Committee, with three Democrats joining Republicans to oppose allowing counties and municipalities to ask voters to approve vacancy taxes. Supporters argued the measure would help rural resort communities address housing shortages and generate revenue for affordable housing, noting some mountain counties have up to 70 percent of homes sitting vacant. Local government groups backed the bill as a tool for voter‑approved local control.
Opponents, including second‑homeowners, real estate groups and short‑term rental advocates, said the tax would be unfair, ineffective and burdensome, raising concerns about property rights and situations where homes sit empty for legitimate reasons. Amendments added exemptions for timeshares, deceased owners and communities with fewer than 25 percent vacant homes, but they did not shift the outcome. Sponsors say they plan to revisit the idea in a future session.
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INITIAL LOTTERY FOR THE COTTONWOODS AT MID‑VALLEY SET FOR FEB. 24
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The Yampa Valley Housing Authority will open the first lottery for The Cottonwoods at Mid Valley on Feb. 24, offering 11 deed‑restricted condos in Building Two to households at 100 percent of area median income. The 86‑unit project, priced from the mid‑$200,000s to mid‑$400,000s and discounted up to 56 percent below market thanks in part to $10 million in short‑term rental tax revenue, aims to expand homeownership for Routt County workers and retirees. Additional lotteries for 120, 130 and 140 percent AMI buyers will follow in March, with Building One’s 43 units expected to open later that month. Applicants must complete YVHA’s pre‑screening at least seven days before their lottery, and eligible households can earn up to three entries based on local employment and family size. Winners will select units through personalized links, with the first results announced March 3.
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SUPER BOWL LX DRAWS 124.9 MILLION VIEWERS
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Super Bowl LX delivered an audience of 124.9 million viewers across NBC, Telemundo and Peacock, slightly below last year’s record 126 million. Nielsen data shows viewership peaked at 137.8 million late in the second quarter, just before Bad Bunny’s widely anticipated halftime performance. The Seattle Seahawks defeated the New England Patriots 29–13, with Seattle’s defense holding New England scoreless until the fourth quarter.
- Total viewership: 124.9 million, down from last year’s 126 million record
- Platforms measured: NBC, Telemundo and Peacock
- Peak audience: 137.8 million viewers just before halftime
- Halftime show average: 128.2 million viewers
- Performers included: Bad Bunny, Jessica Alba, Pedro Pascal, Cardi B, Lady Gaga and Ricky Martin
- Conservative alternative halftime show (Turning Point USA featuring Kid Rock): just over 6 million concurrent YouTube streams
- Game result: Seahawks 29, Patriots 13
- Weather impact: Below‑freezing temperatures helped keep viewers tuned in
- Ad costs: A 30‑second spot exceeded $8 million for many companies
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EL POMAR APPROVES $145,000 TO ORGANIZATION IN NORTHWEST REGION
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El Pomar Trustees approved $145,000 to go to seven nonprofit organizations and government entities in the Northwest region. Through the Foundation’s grantmaking process, the following organizations were awarded grants:
- Clifton Fire Protection District — $10,000 for personal protective equipment; Wildland Fire Fund
- EUREKA! McConnell Science Museum (Grand Junction) — $5,000 for AmiGOs mobile preschool program; competitive
- Foster Alumni Mentors (Grand Junction) — $10,000 for general operating support; regional merit
- Habitat for Humanity International of the Roaring Fork Valley (Glenwood Springs) — $50,000 for HOA reserve fund; competitive
- Lift Up of Routt County (Steamboat Springs) — $25,000 for new building; competitive
- Lift Up of Routt County (Steamboat Springs) — $5,000 for food distribution center; Awards for Excellence Nominating Review Committee merit
- Town of Carbondale — $25,000 for new aquatics center; competitive
Founded by Spencer and Julie Penrose in 1937, El Pomar Foundation has an established legacy of general-purpose grantmaking. The competitive process remains the Foundation’s primary vehicle for organizations to receive funding. In an effort to increase impact and establish connections across the entire state, the Regional Partnerships program was established in 2003. Each of the Foundation’s eleven regional councils advises El Pomar Trustees and recommends grants to help support its communities. The Northwest Regional Council recommends grants in Garfield, Grand, Jackson, Mesa, Moffat, Rio Blanco, and Routt Counties.
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MARKET UPDATE - 02/10/2026 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 02/05/2026)
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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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