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BY FREDA MIKLINGOVERNMENTAL REPORTER On Nov. 8, the South Metro Denver Chamber of Commerce hosted a program at...
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On October 10, Economic Literacy Colorado, an educational nonprofit promoting economic and financial literacy...
BY FREDA MIKLNGOVERNMENTAL REPORTER A new tax on legalized sports betting, awaiting voter approval in November...
On October 10, Economic Literacy Colorado, an educational nonprofit promoting economic and financial literacy to students across the state, will recognize Terry Considine with the Adam Smith Award at its 2019 Adam Smith Award Dinner.
Terry Considine is a life-long entrepreneur in business and politics. He has served as Chairman/CEO of five public companies, including Aimco. In 1994, Terry led the IPO of Aimco, and has served as its Chairman and CEO for the past 25 years. Terry is also the CEO of The Considine Companies which invest in real estate, venture capital, and distressed assets.
“Terry has changed the landscape of Colorado through his successful business ventures and financial dealings,” says Debbie Piece, CEO of Economic Literacy Colorado. “We are excited and honored to celebrate this respected businessman who has been a force for good in Colorado’s business community as well as a dear friend to so many.”
In addition to business, Terry has been active for decades in politics and philanthropy. He was elected twice to the Colorado Senate and co-founded Club for Growth, a national political organization of Americans committed to advancing economic growth and limited government.
“Free markets have made American prosperity the envy of the world. They have also enabled me to provide for my family and enjoy a satisfying career” said Terry. “I am grateful for the sound understanding of economics that I gained from my parents and learned in school. Every youngster would benefit from understanding how a free economy works. I’m thankful for Economic Literacy Colorado, which works with teachers across the state to help them educate their students with these essential life skills.”
Terry was born and raised on a cattle ranch near San Diego, California, and later graduated from Harvard College and Harvard Law School. He and his wife Betsy, who work as a team in their philanthropic endeavors, have three adult children and a ranch in western Colorado.
The Adam Smith Award Dinner honoring Terry and featuring keynote speaker Stephen Moore will take place at the Seawell Ballroom on October 10. Tickets and information are available at www.EconLitCo.org.
Economic Literacy Colorado is the only Colorado nonprofit offering university-accredited economic and personal financial professional development for K-12 teachers. Dedicated to educating students for successful participation in the economy, EconLitCo offers the Stock Market Experience programs for 3rd-12th grade students, and classes, workshops, online programs, and district trainings for teachers. For more information, visit www.EconLitCo.org.
BY FREDA MIKLNGOVERNMENTAL REPORTER
A new tax on legalized sports betting, awaiting voter approval in November, will be paid by casinos and used to fund the Colorado Water Plan (CWP). The ten percent tax will be levied on casinos’ net proceeds from sports betting activities. The plan, HB-1327 referred by the legislature and sponsored by Republicans and Democrats, is expected to bring up to $29 million in new, much needed support for the CWP.
The funding plan was modeled after the successful Great Outdoors Colorado program (GOCO) and is endorsed by Environmental Defense Fund, American Rivers, and Trout Unlimited. Locally, Proposition DD enjoys the support of Conservation Colorado, Colorado Contractors Association, Colorado Farm Bureau, Colorado Dairy Farmers, Colorado Cattlemen’s Association, Greenway Foundation, Denver Metro Commercial Association of Realtors, and Colorado Chamber of Commerce. Current and former elected officials lending their support include former U.S. Interior Secretary Ken Salazar and state Senators Jack Tate and Nancy Todd.
The Colorado Water Plan was finalized in 2015 after a 10-year effort by the Colorado Water Conservation Board and the state’s nine Basin Roundtables, along with hundreds of stakeholders and input from over 30,000 interested persons across the state. It identifies objectives, goals, and actions by which Colorado will address future statewide water needs. The CWP is overseen by the Colorado Water Conservation Board, which will approve water project grants funded by the tax on casinos. Its website, https://www.colorado.gov/pacific/cowaterplan/about-colorados-water-plan says that the CWP allows implementation of the measurable objectives and critical actions “set forth to ensure that Colorado can meet its future water needs and continue to be a thriving state to work, play, and live.”
On May 14, 2018, the United States Supreme Court ruled that individual states could legalize sports betting. Since then, 19 states have passed laws permitting it. Colorado is one of 25 others that have taken steps toward legalization.
Once approved, legal sports betting in our state will be regulated by the Colorado Division of Gaming, part of the enforcement division of the Department of Revenue that has overseen legal gambling in Colorado since it was approved by voters in a Constitutional amendment in 1990. Legal sports bets will only be able to be placed from locations in Colorado and only through established casinos in Black Hawk, Central City and Cripple Creek. Limits will be set by individual gaming establishments.
The Colorado Public Utilities Commission (PUC) will take public comment in Grand Junction and Denver on a proposal by Xcel Energy to increase its electric rates by a net $153.8 million.
Public comment hearings will be from 4-6 p.m. Thursday, Sept. 26, at the Mesa County Commissioners Public Hearing Room, 544 Rood Avenue in Grand Junction; and 4-7 p.m. Wednesday, Nov. 6, at the PUC, 1560 Broadway, Suite 250, in Denver.
The company’s proposal would increase monthly bills for residential customers by about $4.46 a month on an annual basis, or about 6.5 percent. Monthly bills for commercial customers would rise by $6.75, or about 6.7 percent.
A main driver of the proposed rate increase, according to Xcel, is $4.1 billion of investment that the company has made in the last five years, including investments in next-generation technology to strengthen and improve the resiliency of the electric grid. Additional components of the proposal include accelerating wildfire safety, prevention and mitigation efforts and upgrading infrastructure to reduce the risk of damage due to wildfires; and an initiative to help communities and businesses achieve their sustainability goals through better tracking of their use of renewable energy.
Xcel is seeking a 10.35 percent return on equity (ROE), up from the current 9.83 percent. The ROE is the profit that a utility is authorized to earn on its investments. The PUC sets a maximum ROE, but it is not guaranteed.
An evidentiary hearing is scheduled for Nov. 4-8 and 12-13 at the PUC. The company is looking for new rates to take effect on Jan. 1, 2020.
Members of the public may submit written comments about the proposal by using the PUC’s on-line comment form at www.colorado.gov/pacific/puc/puccomments
SUBMITTED BY SOUTH METRO DENVER CHAMBER
The South Metro Denver Chamber (SMDC) is proud to announce newly elected officers and members of its 2019-2020 Board of Directors. New board members and officers will oversee and implement strategies to further the SMDC’s commitment to the prosperity of south metro businesses and a spirit of responsive and thoughtful community development.
“We are extremely excited about our newly elected Board of Directors,” said SMDC President/CEO Robert Golden. “Not only will they maintain the initiatives our previous Board successfully executed, I’m confident they’ll also provide the kind of innovative vision to best represent our members as the business landscape in the south metro region continues to evolve.”
Lockheed Martin Government Relations Director Christie Lee will serve as Board Chair in the new year, replacing outgoing Chair Andrew Graham. Graham’s term ended August 31 and will now serve as Past Chair.
In addition to Lee’s appointment, Brett Anderson of Colorado State University will serve as First Vice Chair, and Charlie Kercheval of Alpine Bank was appointed as Chair of the SMDC Economic Development Group. Other new members on the SMDC Board of Directors are:
RBC Wealth Management, one of the nation’s largest full-service wealth management firms, recently welcomed a new team to its Denver Tech Center office, according to Dan Ball, director of the firm’s Denver complex.
The Campbell Matherly Group is composed of Darwin Campbell, Senior Vice President – Financial Advisor, who has 41 years of industry experience; Matthew Matherly, Senior Vice President – Financial Advisor, who has 12 years of experience; Alexander Aubrey, Associate Vice President – Financial Advisor, who has 8 years of experience; and Theresa Yates, Investment Associate. The team manages approximately $350 million in client assets and joins RBC from Merrill Lynch.
“Our team decided to make the move to RBC Wealth Management because of the firm’s strong reputation for acting with integrity, corporate responsibility and overall fiscal stewardship,” Campbell said. “After careful consideration, we decided RBC is the best fit for our clients and for us.”“We are thrilled to welcome the Campbell Matherly Group to our rapidly growing Denver Tech office,” Ball said. “The team is extremely talented and committed to building strong client relationships based on trust and personalized service, which is a great fit for our client-first culture.”
Nationwide, $650 million in life insurance found for consumers.
Since its inception in 2016, the Life Insurance Policy Locator has found nearly $12 million for Coloradans in lost life insurance policies or annuities. The locator is available on the website of the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies.
Each year, millions of dollars in life insurance benefits go unclaimed by beneficiaries who can’t find their deceased loved ones’ policies, or in some cases may not even know the policies exist. The locator connects consumers with those lost policies.
This free online tool, maintained by the National Association of Insurance Commissioners (NAIC), has received 2,797 requests from Coloradans since November 2016, which turned up 796 matches of lost or misplaced life insurance policies or annuities, with claims amounts of $11,970,835 through July 31, 2019. Nationwide, 145,432 requests have led to 46,665 matches with claim amounts of $650,520,451 over the same time.
The policy locator requests are secure, confidential and free. Any matches found by participating insurers are reported to the Division of Insurance through the NAIC Life Policy Locator. The insurance companies then are responsible for contacting beneficiaries.
Find more information and the locator itself on the DOI’s “Life Insurance Policy Locator” page.
For more information call 303-894-7499.
BY FREDA MIKLINGOVERNMENTAL REPORTER
On September 12, Alberta Development Partners, LLC held a neighborhood input meeting at Greenwood Village City Hall, as required by city rules prior to officially submitting its plans for the former Marilyn Hickey Ministries building at 8081 E. Orchard Road, just west of I-25. Dustin Anderson and Scott Hall, representing Alberta, displayed conceptual drawings of how Alberta plans to remodel the existing 260,000-square-foot interior of the building. Anderson said they expect to create 200,000 square feet of office space on the east side of the building and 60,000 square feet for a food hall on the west.
In Anderson’s letter to neighbors that was posted on the city’s website prior to the meeting, it says “The objective is to create an original workplace environment to attract and inspire world class employees and a market food hall for surrounding employees and Greenwood Village residents with chef-driven options. A place for eating, socializing and learning. A coffee roastery, morning Storytime with the kids and cooking classes in a stylish and comfortable environment.” It goes on, “The adaptive re-use design seeks to celebrate the conditions in the building that make it unique. The existing large skylight is enhanced through a new north-south entry cut that reveals the skylight geometry. A fresh materials palette will reference the beautiful natural Colorado landscapes. The sky cut also serves to separate the market/food hall from the office space. A portion of the parking structure is selectively demolished to allow for light and a pocket park. The west and south facing market hall and the south facing office entry facades have more glass to reflect openness to the outside. The pavilion additions to the roof level reference the local landscapes.”
Chris Fasching, principal of Felsburg, Holt, & Ullevig (FHU), was at the neighborhood input meeting to explain a display that showed the results of the traffic study his firm undertook for the project. FHU is a highly-experienced local transportation planning and traffic engineering firm that produced the City of Greenwood Village 1998 Transportation Plan and its 2011 South Greenwood Village I-25 Corridor Traffic Analysis. Fasching led the FHU team that created the I-25/Belleview Interchange System Study done under the auspices of Arapahoe County. Greenwood Village was a funding partner on that study.
Fasching told us that the current plan for this redevelopment is expected to produce 5,400 total additional vehicle trips per day compared to current conditions. The south corner of the Greenwood Plaza Boulevard loop around the Triad office complex is expected to be most impacted by the additional traffic. Very preliminary discussions have occurred about the possibility of creating a roundabout at that intersection. No decisions have been made as to whether one will be built and if so, who would bear the cost.
In response to our questions, Alberta representatives said there were no current tenants presently identified for the office space or the food hall. They plan to submit a side development plan to the city shortly and hope to commence construction, which they expect to take 18 months, as soon as they receive the necessary approvals.
Alberta 8081 East Orchard LLC bought the property on February 17, 2017 for $14,813,876 from Marilyn Hickey Ministries. According to the Arapahoe County Treasurer’s office, as of September 16, there are $1,050,049 in past due property taxes and interest on the 10.248-acre combined parcel, which will go to tax sale in November if unpaid. We asked Anderson about the past due taxes. He said, “No comment.”
Branch President Vic Calonder said of the ceremony, “I am happy to bring community banking back to Main Street in Littleton. I look forward to working with the merchants and the City of Littleton again. My team is ready to take care of all the needs of the merchants and we plan to be a very active member of the community. We are a full service bank that includes treasury management and a residential mortgage lender.
I am also very happy to announce that Nawang Sherap will be part of the Bank of Colorado team. Nawang worked with the Main Street Merchants for over 20 years and is beloved by the entire community.”
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