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City for Champions approved for full state funding

After months of uncertainty, revisions, controversy and discordant public opinion, the Colorado Economic Development Commission decided Monday to give Colorado Springs a chance to back up its promises. Despite staff and third-party advice to the contrary, the commission approved full tax-increment funding via the Regional Tourism Act for an estimated $120 million to help finance… Continue Reading City for Champions approved for full state funding

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Commission unanimously approves City for Champions

  In a stunning and unanticipated victory for Mayor Steve Bach and his economic vitality team, the Colorado Economic Development Commission fully funded the city’s request for the City for Champions project. Bach’s team had requested tax increment funding in the approximate amount of $123 million, while a third-party analyst and the EDC staff had… Continue Reading Commission unanimously approves City for Champions

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DENVER — With its single ally on the inside of the process changing sides from the dais to the audience, a contingent of civic and government leaders from Colorado Springs presented their case Wednesday for the City for Champions project to the state Economic Development Commission. EDC member Chuck Murphy, after confirming Tuesday that he… Continue Reading City takes its case to state EDC for project funding

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Chuck Murphy confirmed Tuesday what had been widely assumed: He won’t vote on the City for Champions proposal when it comes before the Colorado Economic Development Commission Dec. 4. Murphy will attend the commission’s meeting scheduled for Wednesday morning in Denver, and he planned to make the drive there Tuesday night ahead of the advancing… Continue Reading Update: State EDC meeting on; Murphy will recuse himself

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Let’s see: A scant majority of city councilors appears to be dead set against the Mayor’s “City for Champions” proposal. Never mind that every other regional elected body has endorsed the application; never mind that we might get $55 million in state tax increment financing for the four Regional Tourism Act projects; never mind that… Continue Reading Betting money on it: Council goes down, C4C rises

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City body-slams EPS in response to Regional Tourism Act analysis

Attorneys representing clients in the courtroom are guided by a simple set of rules: If the facts are with you, pound the facts; If the law is with you, pound the law; If neither the facts nor the law support your client, pound the table! The city’s response to the third-party analysis of the administration’s… Continue Reading City body-slams EPS in response to Regional Tourism Act analysis

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RTA proposal moves away from baseball

Apparently, at least for now, the Colorado Springs Sky Sox won’t be moving to a new downtown stadium after all. City leaders have revised their application to the Colorado Economic Development Commission for funding through the Regional Tourism Act, after the state EDC gave Colorado Springs leaders extra time to respond to the third-party analysis… Continue Reading RTA proposal moves away from baseball

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Apparently, at least for now, the Colorado Springs Sky Sox won’t be moving to a new downtown stadium after all. City leaders are revising their application to the Colorado Economic Development Commission for funding through the Regional Tourism Act, and the state EDC has given Colorado Springs an extra two days to respond to the… Continue Reading City for Champions stadium plans moving away from baseball

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City for Champions revisions follow analysis

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City for Champions revisions follow analysis

Organizers of the City for Champions proposal requesting Regional Tourism Act funds to help build four major projects in Colorado Springs spent this week preparing a response due Friday to the Colorado Economic Development Commission, after a third-party analysis questioned whether the local campaign qualified for RTA funding. Mayor Steve Bach’s proposal didn’t impress Economic… Continue Reading City for Champions revisions follow analysis

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Mayor Steve Bach’s City for Champions proposal didn’t impress Economic and Planning Systems, the third-party analyst hired by the Colorado Economic Development Commission to evaluate the city’s request for state tax increment funding. EPS found that visitor estimates by the city were overly optimistic; financial data was skimpy, insufficient and/or inaccurate; and cost and revenue… Continue Reading Third-party analysis forces City for Champions revisions

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