Colorado

Dec 12, 2013 7:16 PM by Andy Koen

State impressed by passion behind City for Champions

COLORADO SPRINGS - The director of the Colorado Office of Economic Development is excited by the passion shown by the people backing the City for Champions development deal. The $250 million project would create four new tourist attractions in the community including a downtown sports stadium and a US Olympic Museum.

"We've been very impressed with the level of professionalism, the level of collaboration really that the community leadership of the project has shown with our office," said director Ken Lund.

He views the project's plan to leverage the Olympic brand as one of the key selling points. Lund said the US Olympic Committee and Olympic Training Center are among the crown jewels of tourism in our state.

"We want communities to succeed, we want to create jobs in communities, we want projects like this to be successful."

On Monday, city leaders will learn how much financial support the state will commit to the project in the form of a 30 year Regional Tourism Act tax credit. The city wants about $120 million, but an earlier estimate only promised $53.5 million. The RTA credits are paid based on the number of new out-of-state tourists the project brings in.

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