💸 Taxpayer Burden 🏙️ Apartment Rent 🤝Veteran Support 🍪 Cookie Bark

COS Local News & Events | Issue #24-068 3/8/24

08 Mar • Estimated Reading Time: 11 minutes

COS Town Tidings #24-068

📰 Taxpayer Burden: Liability Insurance Surge 💸
📰 COS Apartments Emptying: Rents Dip 🏙️
📰 Veterans Find Solace in New Group 🤝

📅 Save the Date 📆 Local Events
🛍 Local Deals

Recipe: 🍪 Protein Cookie Dough Bark

🌨 COS Weather - AM snow, trace accumulation
🤝 Affordable Advertising

 

I’m not sure about this daylight savings thing…

👉 I give it 6 months 🤣

happy black and white GIF

 

💸 Taxpayer Burden: Liability Insurance Surge

Over the last 5 years, liability insurance premiums for Colorado Springs and El Paso County surged by about 600%. While the county frequently uses its insurance for settlements, the city's high deductibles mean its insurance is mostly unused, leaving taxpayers to cover settlements, including a portion of a $3 million settlement for an incident in the county jail. The city's deductible, ranging from $1-1.5 million, often surpasses settlement amounts, resulting in limited use of insurance despite rising premiums.

These hikes, linked to post-George Floyd market conditions, strain municipal budgets, diverting funds from vital services like infrastructure maintenance. Additionally, the city anticipates further premium increases in 2024, reflecting broader market trends impacting homeowners and motorists.
*Source

🏙️ Colorado Springs Apartments Emptying: Rents Dip

The latest report reveals a surge in apartment vacancies, with Colorado Springs experiencing a 7.5% vacancy rate in the fourth quarter of 2023. This increase is attributed to the substantial delivery of new apartment units outpacing rental demand. Analysts note that over 5,000 new apartments became available in 2023, yet only 2,317 were occupied by year-end. Consequently, this oversupply causes a decline in rent, which decreased by almost 2% year over year, though the average rent remains around $1,500.

Despite the decline in rental prices, the issue of affordable housing persists, as developers prioritize constructing higher-end units with greater profit margins. Economists predict the vacancy trend to persist into 2024, which could discourage future development, perpetuating the cyclic nature of the housing market.

🤝 Veterans Find Solace in New Group

The Depression and Bipolar Support Alliance (DBSA) is initiating a Veterans Support Group tailored for active duty and retired service members coping with mood disorders. Starting on March 26 at the Hillside Community Center, the group will convene every Tuesday from 7 p.m. to 8:30 p.m. Led by a local veteran, the confidential and peer-led sessions seek to foster connection and mutual support among attendees. No registration is needed, and there is no cost to participate. For further details, individuals can reach out via email to [email protected].

 

📚 Careers: D49 Hiring Fair!

District 49 is hosting a Hiring Fair TOMORROW, March 9th from 9 AM–1 PM at The Campus in COS (6113 Constitution Ave), 150+ job openings i.e. teachers, bus drivers, and custodians, etc. Meet with representatives, same-day interviews, child care services and food trucks. Click for details and registration link.

TAX RETURN HELP: Get help in preparing and filing your tax returns! AARP Foundation Tax-Aide offers no-cost tax preparation services (by appointment only) to anyone, especially those 50 years and older or those who cannot afford paid tax preparation services, thanks to a team of IRS-certified volunteers.

 

📆 Local Events

 

🍪 Protein Cookie Dough Bark

This protein cookie dough bark is so easy to make with just 5 simple ingredients. It's packed with 4 grams of protein per serving and is the perfect post-workout treat or healthy dessert.

 

 

🛍 Discounts, Specials & More

Want to let us know of local deals you want us to add? [email protected]

Blue Spruce Mercantile

  • Blue Spruce Mercantile, Mar 8th-12th, ALL CLOTHING in store is 2 for $5! 5677 N. Academy Blvd. 719-728-8599 (Mon, Tues & Fri 10 AM-5 PM, Sat 10 AM-4 PM, Sun 1-5 PM)

 

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