County has horse-sense — and dollars

Filed under: Week in Business |

El Paso County commissioners agreed to bankroll the Penrose Equestrian Center for at least another year. The Board of County Commissioners voted to approve a five-year, $3.5 million county tax subsidy, and to form a nonprofit organization, the Penrose Heritage Foundation, to attract at least $10 million in private donations. With that kind of funding, the center could expand to include an indoor arena, enclosed pavilions, additional stalls, a gift shop and a museum. However, the tax subsidy is not guaranteed beyond 2001; the county’s budget must accommodate the amount for the funding to proceed.