In a letter dated March 2 to Springs Mayor Lionel Rivera, USA Boxing CEO Jim Millman asked the city to provide a $3 million line of credit or unsecured loan that would be payed back over the next 25 years.Millman said that the organization has been approached by an undisclosed city about moving its national headquarters from Colorado Springs.
“Like all not-for-profit organizations,” he wrote, “we owe it to our membership to operate the organization in a manner that is most financially responsible and beneficial…we are prepared to relocate unless we can attract the level of financial support that we’re being offered elsewhere.”
Many national governing bodies, such as USA Boxing, are slated to move into the former Gas building adjacent to America the Beautiful Park, but Millman has other plans.
“Although we are currently planning office residence with the newly renovated utilities building adjacent to America the Beautiful Park, the credit line provision would allow us the flexibility to move into stand-alone quarters…”
Millman concluded by saying, “Needless to say, I fully realize that economic times couldn’t be harder, and that this may be the worst of times to pursue the working capital we need.”