February 13, 2014
50 cents Jefferson County, Colorado | Volume 30, Issue 34 A publication of
wheatridgetranscript.com
STEVENSON RESIGNS
Supply is in high demand for Real Estate market Home purchases and mortgage rates to rise in 2014 according to experts By Amy Woodward
awoodward@coloradocommunitymedia.com
Board member Julie Williams speaks to Jeffco Schools superintendent Cindy Stevenson, who announced her resignation Saturday rather than retire later this year. Photo by Crystal Anderson
Lack of trust by new board majority cited Superintendent Cindy Stevenson resigned from Jeffco Schools Saturday amid expressions of dissatisfaction with the direction of the school board. Following the general election in November, Stevenson announced her retirement and had agreed to serve through June — allowing the district time to recruit a new superintendent — before Saturday’s resignation. “I can’t lead and manage, because I am not trusted or respected by this board of education,” Stevenson said at the start of the meeting. “Consequently, I did approach the board, and said this isn’t working.”
‘I can’t lead and
Stevenson’s decision came after three months of work with a board that contains three newly elected board members: John Newkirk, Julie Williams, and Ken Witt, who are credited with sharing conservative perspectives. According to a press release, sent out by the board’s attorney, Stevenson approached the board seeking early termination of her contract. Stevenson said the three do not respect her or allow her to make decisions or lead the district. Throughout the meeting, which lasted less than 20 minutes, audience members Stevenson continues on Page 14
manage, because I am not trusted or respected by this board of education.’ Cindy Stevenson, Superintendent of Jeffco Schools
Council sets fee schedule for retail marijuana By Hugh Williams
POSTAL ADDRESS
Wheat Ridge City Council established an annual operating fee of $1,500 for retail marijuana stores at the Feb. 10 meeting. Pursuant to the state’s Amendment 64 and City Ordinance 1543, the city is authorized to impose operating fees to cover costs for the enforcing, inspecting and administration of retail shops in the city. Council decided on $1,500 for retail stores, and $600 for marijuana cultivation stores, marijuana testing laboratories, and for product manufacturers. The city will also impose a $100 late fee for fees more than 90 days past due. At the Feb. 3 study session, city staff originally proposed the fees at $500 and $200 respectively based on the cost to the Wheat Ridge tax division and the police department. After some discussion, council agreed to triple those numbers. During the study session, George Pond, district 3 councilman, had 1some concerns about raising the 6x1.75_BringAppetite_Layout 1 2/3/14 11:15 AM Page fees. He recalled a study session in which council
discussed imposing reasonable fees. Pond said, “Fees were not a place that you could just make money on and that they needed to be tied to a reasonable justification ... I’m not saying that we shouldn’t double this necessarily, but if I heard that correctly, it means you need to justify why they would be a $1000 vs. $500,” Pond said. Dahl pointed out that since retail marijuana businesses are new and no one really knows how much it’s going to cost the cities and the state to regulate them, it’s best to inflate the fees and hope that the fees cover the costs. Council originally moved to use the $500 as a base licensing fee but due to a constitutional amendment, the city cannot impose a licensing fee if the state of Colorado is already doing so. Since the state is issuing licensing fees, Wheat Ridge cannot establish its own but the state is required to share back half of the fee to the city. City Manager Patrick Goff, said the fee is $2,500 for new retail businesses and $500 for medical marijuana establishments converting to retail stores. Council unanimously approved the fees.
Housing market experts seem to be in agreement that real estate is booming and healthy in Colorado. For Jeffco, single family homes averaged 48 days on the market which is a 32 percent decrease from 2012 where single family homes averaged 71 days, according to a market report from the Denver Metro Association of Realtors. “It’s showing a healthy market, it’s leaning a little bit to the buyer’s side and that’s just a lack of inventory,” Mike Welk, metrolist director of DMAR said. “That lack of inventory is going to be one of the obstacles consumers will face as demand surpasses supply. New listings are down 35 percent which is drastically under where the county is normally at,” Welk said. “When we have an increase in price and a decrease on days on market we’re just getting a competitive situation where supply is not there but the demand is very high which is driving the price up and lowering the days on the market,” he said. “We just need more inventory on the market for it to be more of a balanced market.” Still, buyers are purchasing homes over the asking price and cities like Golden are seeing homes being gobbled up by eager homebuyers. Today, the city of Golden has only six active listings and homes that hit the market can disappear in five days or less but no more than 26 days, according to Golden Real Estate. In the past there were 20 to 30 listings, said Jim Smith, broker and owner of Golden Real Estate. “If you’re thinking of selling your home and thinking that buying season is in the spring, forget about it,” Smith said. “That’s what people need to know is there is no season for buying.” Smith reported that low interest rates on mortgages have contributed to the buying frenzy and why “it’s been such a hot winter for real estate.” But Smith, along with Welk both predict that mortgage rates will increase as winter turns to spring and the state begins to warm up. “Mortgage rates will probably continue to increase this year, into the five (percent) maybe,” Welk said. He projects that demand from buyers will increase and for homeowners who were considered a distressed property, they may see a comeback this year. “With the median home price going up, if you were underwater the last year or so, you’ll probably come back to being even or having a little equity in your property,” Welk said. “Now is a good time whether you’re a buyer or a seller to get out there and use a realtor and just ask questions.”
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