City of Pueblo and Springs contractor get creative

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In a creative financial move, the city of Pueblo and a Colorado Springs company have found a way to work together.

This month, Pueblo’s city council has approved a three-year contract with NEK Advanced Securities Group, a defense contractor based in Colorado Springs, allowing the company to rent the Pueblo Motorsports, Inc. racetrack for driver training exercises for at least 30 days per year.

The local defense contracting company had sought a long-term contract with the city, according to the Pueblo Chieftain. The result was creation of a new city-owned enterprise and city council’s approval of a three-year fee schedule. The PMI program is expected to generate as much as $37,500 annually in new revenue, according to Pueblo’s City Manager Jerry Pacheco, who said the rentals would be a major source of revenue for the new city enterprise.