Title
City for Champions and Colorado Sports and Event Center Update
Presenter:
Bob Cope, Economic Development Officer
Body
Summary:
This presentation is to provide Council with an informational update relating to the status of the City for Champions and Colorado Sports and Event Center projects.
Previous Council Action:
N/A
Background:
On December 16, 2013, the City of Colorado Springs' "City for Champions" application, in accordance with the Regional Tourism Act, was approved by the Colorado Economic Development Commission. The approval resulted in an award of $120.5 million in states sales tax increment over a thirty year period.
City for Champions includes four unique and extraordinary tourism project elements, which are the United States Olympic Museum and Hall of Fame (USOM), the William J. Hybl Sports Medicine and Performance Center (SMPC), the United States Air Force Academy Gateway Visitor Center (AFAVC), and the Colorado Sports and Event Center (CSEC).
The CSEC project element will consist of an indoor and outdoor facility, and will be designed and built in accordance with Resolution No. 3 of the Colorado Economic Development Commission. The CSEC will be a world class multi-use sporting venue, designed to host national Olympic and amateur sporting events. The CSEC was allocated 23% of the total award, or approximately $27.7 million over 30 years.
Partnering and providing private financial funding in the venture are Colorado College, the Colorado Springs Switchbacks, and Weidner Apartment Homes.
The downtown stadium will be located at the CityGate property, bordered by Cimarron to the north, Moreno to the south, Sierra Madre to the west and Sahwatch to the east. The facility will be incorporated into a mixed use development, which will feature a rectangular field of play, and will serve as the permanent home of the Colorado Springs Switchbacks. The stadium, containing 10,000 spectator seats for sporting events, will be a mu...
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