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Emergency workers closed down a portion of Tejon Street at about 11 a.m. Continue Reading Falling ice from USOC building closes Tejon Street

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It’s hard to imagine what would become of the grandiose schemes of our city’s leaders without the beneficence of the El Pomar Foundation. When it became clear to foundation CEO Bill Hybl and the El Pomar board that Mayor Lionel Rivera could not raise the $1.5 million required to satisfy the requirements of phase one… Continue Reading Let’s not sully Colorado Springs’ true icons by including USOC

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El Pomar chips in $3 million to aid USOC deal

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El Pomar Foundation will make a $3 million grant to the city of Colorado Springs and the United States Olympic Committee to “satisfy the next phase of the agreement to keep the USOC in Colorado Springs.” Acknowledging the urgency surrounding the grant, El Pomar CEO Bill Hybl said that the entire $3 million would be… Continue Reading El Pomar chips in $3 million to aid USOC deal

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USOC creates executive search committee

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The U.S. Olympic Committee has created a nine-member committee to search for a new executive director. Committee members include: USOC Chairman Larry Probst Board member Bob Bowlsby Board member Mike Plant Phil Godfrey (Multi-Sport Organizations) Nina Kemppel and Matt Van Houten (Athletes Advisory Council) Micki King (U.S. Olympians Association) Trygve Myhren (Paralympic Movement) David Ogrean… Continue Reading USOC creates executive search committee

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In the event that Colorado Springs voters fail to approve a proposed mill levy increase during the Nov. 3 election, the city will have to make many painful choices. Will council implement furloughs and layoffs, close the Pioneers Museum and city recreation centers, and put the city park system on “life support”? We don’t know.… Continue Reading Postponing inevitable is what got us to where we are now

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POC, fire station transfer complete

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El Paso County property transaction records show the transfer of the Police Operations Center and Fire Station 8 from the City of Colorado Springs to the City of Colorado Springs Public Facilities Authority. Continue Reading POC, fire station transfer complete

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The U.S. Olympic Committee deal ended as it began — in confusion and secrecy. It had been widely assumed that the city would market $31 million in certificates of participation to pay for the deal on Tuesday. A few minutes before Tuesday’s council meeting began, reporters from a variety of media buttonholed councilmembers, asking for… Continue Reading Secrecy, certificates and the USOC — but no videotape

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The city is touting its success in selling $32.48 million in certificates of participation that will fund the U.S. Olympic Committee deal, which it claims is a price considerably below original estimates. But as with any complex financial deal, the devil is in the details — and the deal might not be as sweet as the city is spinning. “The… Continue Reading USOC deal financing might not be as good as touted

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Web site confirms COPs issued

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Although the city has yet to confirm reports that its Public Facilities Authority sold certificates of participation to finance the USOC deal yesterday, it’s apparently a done deal. The Web site of investment bankers Stifel, Nicolaus and Co. confirms that the firm underwrote COPs issued by the PFA with a face value of $31.47 million on… Continue Reading Web site confirms COPs issued

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Chief executives of the 46 U.S. Olympic National Governing Bodies passed a no-confidence vote today regarding the U.S. Olympic Committee’s Chairman Larry Probst and acting CEO Stephanie Streeter. The action comes in the wake of Chicago’s failed bid to host the 2016 Olympics. “This is not a ‘vocal minority’ speaking out, but an overwhelming majority voice,”… Continue Reading NGBs call for Streeter’s, Probst’s resignation

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