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The El Paso County District Attorney’s office is investigating certain transactions allegedly made by Ray Marshall and/or entities under his control. Marshall and his company LandCo are the primary developers of the three-way project involving the city and the U.S. Olympic Committee to build a downtown headquarters for the USOC, among other things. The investigation… Continue Reading DA investigating Marshall

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Foreclosure proceedings against 110 acres of land in northern El Paso County managed by the developer chosen by the city to oversee the U.S. Olympic Committee headquarters/Olympic Training Center project appear to be just the tip of the legal iceberg bearing down on Ray Marshall and LandCo. While Marshall’s attorneys, Greenberg Traurig, claimed that he… Continue Reading Marshall, LandCo facing landslide of legal problems

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Mayor panhandling for USOC cash

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Since the end of January, Mayor Lionel Rivera has been attempting to raise $1.5 million from wealthy, civic-minded individuals to prop up the troubled deal between the U.S. Olympic Committee, LandCo Equity Partners and the City of Colorado Springs. As the Business Journal reported today, the USOC deal is stalled because of LandCo’s apparent inability… Continue Reading Mayor panhandling for USOC cash

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Deal or no deal?

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City appears to be in no rush to issue COPs to pay for USOC headquarters project The City of Colorado Springs has yet to market the debt instruments that will pay for its share of the cost of building new facilities for the U.S. Olympic Committee and the Olympic Training Center. The city’s commitment, estimated… Continue Reading Deal or no deal?

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The deal

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The U.S. Olympic Committee/Olympic Training Center project cost was originally estimated at $53.5 million. The city’s share is about $27 million, to be financed by certificates of participation. The El Pomar Foundation will kick in $2 million, and the state economic development office has agreed to provide $500,000. LandCo Equity Partners LLC had reportedly secured… Continue Reading The deal

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