Foreclosure auction planned at Tamarack
DONNELLY, Idaho -- Clouds continue to pile up over Tamarack, the ski-based resort located 90 miles north of Boise that only three years ago drew President George W. Bush for a vacation. The latest bad news for the developers is that two banks, Bank of America and Sterling Bank, that had loaned money for a conference complex and an employee housing project at the resort plan to have the properties sold by auction.
The Associated Press, in stories published in the Idaho Statesman, also reports that Bank of America forced a new agreement to cover lease payments on two ski lifts.
Boring continuing into old mines at Silverton
SILVERTON, Colo. -- Drills are bore into an old mine at Silverton as a company called Colorado Goldfields continues it examination of what minerals may still be available for extraction.
The company this summer drilled two holes in the Gold King, a mine active from 1895 to 1920. The mine produced about 345,000 ounces of gold and 4 million ounces of silver.
Steve Guyer, the chief financial officer, told the Durango Herald in August that production costs are well below gold prices. Still, Goldfields has not yet announced begun mining, although it does proclaim that profitability on its operations will arrive within 18 months.
The company also continues to drill into the Mogul Mine, in the hope of intersecting the historical vein that had been mined. Historical data indicated a good grade of silver, lead, copper and zinc.
Wages are good, but are they enough to buy a house?
JACKSON HOLE, Wyo. -- Teachers in Wyoming's Teton County get paid $52,582 to $77,082 annually. Throw in the benefits package, and it's a pretty good living in most of the country.
But teachers' wages have not been rising nearly as rapidly as housing costs. Housing commissioners, reports the Jackson Hole News&Guide, have been hearing recently about a small subdivision that would be dedicated to teachers. Three-bedroom houses would range in price between $295,000 and $325,000. With a downpayment of 20 percent on the latter house and 5.75 percent interest, would mean a monthly mortgage of $1,900.
Money pours into races for Colorado Legislature
VAIL, Colo. -- With candidates for mayor in ski towns spending $30,000 and more to get elected, as was the case in Aspen last year, is it surprising that state legislature candidates are spending hundreds of thousands of dollars.
In the state house district that includes Summit, Eagle and Lake counties, Republican candidate Ali Hasan has already spent $191,000, nearly all of it his own money. His opponent, Christine Scanlan, a Democrat, has only raised $31,000, and spent only a third of it.
But the story is also of what outside sources are spending. That's where Scanlan may be leading, the Vail Daily suggests. A group called Accountability for Colorado is doing mailings on her behalf. Big-dollar donors for that campaign include Pat Stryker, a medical-supplies heiress, and Tim Gill, the founder of the software company Quark.
Real estate in Aspen down 23% in July
ASPEN, Colo. -- Real estate sales remained dampened in Aspen and Pitkin County during July. A study by Land Title Guarantee Co. found total dollar volume was down 23 percent. But an even sharper drop-off of 47 percent was recorded for the year.
Telluride edges Aspen in use of reusable bags
TELLURIDE, Colo. -- In the summertime battle of the bags, Telluride edged Aspen. Grocers there recorded the use of more than 29,000 reusable bags between Memorial Day and Labor Day, compared to not quite 27,000 in Aspen.
The contest had been sponsored by environmental groups from the respective towns, who want to discourage one-use plastic bags. World-wide attention has been focused increasingly on the plastic bags, which are made from petroleum. Several cities have banned them outright.
Environmental leaders are considering asking for similar bans in Aspen and Telluride, or possibly the idea of requiring charges for the bags.
Aspen aims to get all renewable electricity
ASPEN, Colo. -- Customers of Aspen Electric, the municipal utility that supplies about two-thirds of the city, will see a rate increase of about 20 percent. City officials describe it as a way to leverage the city's electrical supply to 100 percent renewable sources. Currently, Aspen Electric operates on about 75 percent renewable sources.
However, the increased costs will not be fully shared. The new rates will be incremental, so that consumers who use more kilowatt hours monthly will pay more. A consultant, Todd Cristiano, told the Aspen City Council that it's possible some customers will see a decrease in their rates.
