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Local investors are now competing against institutional money at the El Paso County Public Trustee’s foreclosure sales. Two out-of-state investors have been bidding on foreclosures at the local sales. Colony American Homes, an Arizona-based unit of Colony Capital LLC, headquartered in Santa Monica, Calif., buys homes and rents them out while they appreciate. Granite Ranch… Continue Reading Local real estate investors battling with new Goliaths

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Rapid growth for St. Francis

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Rapid growth for St. Francis

The St. Francis Medical Center of the future could become a dominant presence in northern Colorado Springs, even replacing Penrose Hospital as the main campus for Centura Health in the city. Unexpected growth at St. Francis, on the southeast side of the Powers Boulevard and Woodmen Road interchange, and demand for new services have led… Continue Reading Rapid growth for St. Francis

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Fort Carson warns of civilian furloughs

With sequestration taking effect in a matter of days, Fort Carson is preparing to instigate necessary cuts issued by the Department of Defense. The DOD told Congress that civilian workers could face a furlough of up to 22 days beginning in late April. The move affects 3,000 civilian workers at the Army post, but is… Continue Reading Fort Carson warns of civilian furloughs

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State map system offers business analysis

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State map system offers business analysis

A new online mapping system will allow businesses interested in relocating or expanding in Colorado to find available properties and locate businesses throughout the state. The Colorado Office of Economic Development and International Trade launched Colordado Insite – a library of business information not found elsewhere in the state. “This tool is crucial to keeping… Continue Reading State map system offers business analysis

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Home sales rise to 2nd highest level in 3 years

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Home sales rise to 2nd highest level in 3 years

The National Association of Realtors U.S. sales of previously occupied homes rose in January to the second-highest level in three years. Analysts say it’s a sign that the housing market is sustaining its recovery and helping to bolster the economy. Sales rose 0.4 percent in January compared with December to a seasonally adjusted annual rate of… Continue Reading Home sales rise to 2nd highest level in 3 years

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County OKs stormwater resolution, Mayor wants to postpone

The El Paso County Board of Commissioners passed a stormwater resolution resolving to find funding sources and identify major construction projects to address the more than $900 million in infrastructure updates and repairs in the region. But Mayor Steve Bach is asking the city council to postpone consideration of the issue until a new council… Continue Reading County OKs stormwater resolution, Mayor wants to postpone

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SBA chief Karen Mills stepping down

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SBA chief Karen Mills stepping down

Karen Mills, head of the Small Business Administration, is leaving her job, the White House has announced. Some thought it likely that Mills, whose job was elevated to a rank last year, would stay on during President Obama’s second term. Deputy administrator Marie Johns also informed the agency that she plans to step down in… Continue Reading SBA chief Karen Mills stepping down

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O’Neil continues downtown quest with 2nd building purchase

The O’Neil Group purchased the Center City Plaza building at 455 E. Pikes Peak Ave. earlier this month. The O’Neil Group, owned by Kevin O’Neil, also owns Braxton Technology and bought the former Chase Bank building at 6 S. Tejon St. in 2011. O’Neil was a principal in the purchase and was the broker representing… Continue Reading O’Neil continues downtown quest with 2nd building purchase

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Military cuts less damaging than forecasted, analysis shows

The initial impact from budget cuts and sequestration to Colorado Springs’ defense assets might be much less than originally forecasted by El Paso County. According to an analysis by USA Today, the state stands to lose $161 million in reductions to its Army assets and 4,803 jobs. Air Force estimates for Colorado suggest that it… Continue Reading Military cuts less damaging than forecasted, analysis shows

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ISS wins $249 million Air Force contract

Intelligent Software Solutions has won a $249 million U.S. Air Force contract The contract is for work with the Air Force’s Command and Control Applications and Information Services Development. ISS is one of seven prime contractors selected for the contract. The five-year contract at Hanscom Air Force Base in Massachusetts will support the replacement of… Continue Reading ISS wins $249 million Air Force contract

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