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Southern Colorado to receive a big boost in funding

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Southern Colorado to receive a big boost in funding


PUEBLO  — The Arkansas Valley Conduit obtained $60 million in federal cash. The AVC is a deliberate 130-mile water-delivery system from the Pueblo Dam to communities all through the Arkansas River Valley in Southeast Colorado.

This funding will pace up the development timeline and permit for federal consuming water requirements to be met extra shortly.

The Conduit is the ultimate section of the Fryingpan-Arkansas Challenge, which Congress licensed in 1962.

The mission is a pipeline that can feed filtered water from Lake Pueblo to 39 communities within the decrease Arkansas River Valley.

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“Among the communities down within the decrease Arkansas valley has water contaminated by radio nuclei,’ mentioned Chris Woodka of the Southeastern Colorado Water Conservancy District, “We hope that contemporary water coming via pueblo will alleviate a whole lot of these water high quality issues.”

Work is anticipated to start out early subsequent yr and be accomplished inside the subsequent 8 years.

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Colorado

Colorado authorities shut down low-income housing developer

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Colorado authorities shut down low-income housing developer


The Colorado Division of Securities is pursuing legal action against a man whom it claims deceived investors and used the ownership of federally supported low-income housing projects to line his own pockets. 

Securities Commissioner Tung Chan announced its civil court filings against Michael Dale Graham, 68, on Nov. 12. 

Chan’s office filed civil fraud charges against Graham, and also asked for a temporary restraining order and freezing of Graham’s assets and his companies’. A Denver district court judge immediately granted both. Since then, two court dates to review the those orders have canceled; a third is scheduled for mid-January.

Graham operates Sebastian Partners LLC, Sebastiane Partners LLC, and Gravitas Qualified Opportunity Zone Fund I LLC (“GQOZF”), all of which were controlled by Graham during his “elaborate real estate investment scheme,” as described by the securities office in a case document.

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The filing states Graham collected more than $1.1 million from eight investors to purchase three adjacent homes in Aurora. The Denver-based Gravitas fund and its investors purportedly qualified for the federal Qualified Opportunity Zone (QOZ) program with the homes. Qualified Opportunity Zones were created by the Tax Cuts and Jobs Act passed by Congress in 2017. The zones encouraged growth in low-income communities by offering tax benefits to investors, namely reductions in capital gains taxes on developed properties.

A file photo of a suburban housing development in the Denver metro area. 

Paul Souders/WorldFoto & Getty Images


Graham formed Gravitas in early 2019 and purchased the three homes located in the 21000 block of E. 60th Avenue two years later. He quickly sold one of them with notifying investors, according to the case document. While managing the other two, Graham and Gravitas transferred the fund’s assets and never operated within QOZ guidelines to the benefit of its investors or the community, according to the state. 

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Gravitas also transferred the titles for the two properties to Graham privately. As their owner, Graham obtained undocumented loans from friends totaling almost $600,000. The two loans used the two properties as security. 

Gravitas investors were never informed of the two loans, according to the case document. Also, Gravitas never sent its investors year-end tax reports, the securities office alleges. 

Graham used the proceeds of the loans for personal use. No specific details were provided about those uses.

“Effectively, Graham used Gravitas as his personal piggy bank,” as stated in the case document, “claiming both funds and properties as his own. Graham never told investors about the risks associated with transferring title to himself. On September 1, 2023, he sent a letter to investors, stating that the properties ‘we own’ are doing well and generating growth due to record-breaking home appreciation. But Gravitas no longer owned the properties.

“Gravitas no longer had assets at all.” 

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Furthermore, the securities office said Graham failed to notify investors of recent court orders against him in Colorado and California. In total, Graham was ordered to pay more than $1 million in damages related to previous real estate projects.

Graham’s most recent residence is in Reno, Nev., according to an online search of public records. He evidently has previously lived in Santa Monica, Calif., and Greenwood Village.

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Colorado weather: Temperatures staying in the 60s Sunday

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Colorado weather: Temperatures staying in the 60s Sunday


Colorado weather: Temperatures staying in the 60s Sunday – CBS Colorado

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Watch meteorologist Callie Zanandrie’s forecast.

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Colorado Springs police search for missing 20-year-old

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Colorado Springs police search for missing 20-year-old


COLORADO SPRINGS, Colo. (KKTV) – Police are searching for a missing at-risk adult.

They said 20-year-old Brandon Hugney was last seen Saturday night, around 7 p.m., at the Walmart on Platte avenue.

They shared a picture of Hugney, describing him as a 6′ man last seen wearing black-framed glasses with red trim, a grey fleece, blue pajama pants and black and white slippers.

Police said he likely isn’t properly dressed for the weather and was last seen heading west behind Walmart.

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If you know where he is or see him, call police at (719) 444-7000.



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