Olympic museum gets $1 million boost


The Olympic Museum and Hall of Fame got a little closer to its fund-raising goal Tuesday with the announcement by the board of directors of the Colorado Springs Downtown Development Authority (DDA) that it unanimously approved a funding commitment of $1 million for the project.

The project needs more money, and recently asked the city to fork over bucks from its lodgers and auto rental tax fund.

From a DDA release:
In prior years, the DDA had granted a total of $225,000 for a feasibility study of the museum, support for the City for Champions application to the state Regional Tourism Act, and planning components for the museum and southwest downtown area. That prior commitment, plus the additional $775,000 authorized by the board on February 14, 2017, brings the total commitment to the project to $1 million.

“The US Olympic Museum and Hall of Fame is a catalytic project not only for Downtown, but for our entire city,” said board chair Steve Engel. “The DDA is proud to have been a first-stage investor in this initiative with the initial feasibility study, and now seeing the project through this very important phase before groundbreaking.”

Project leaders for the US Olympic Museum and Hall of Fame intend to break ground in spring 2017. The building will become a landmark destination Downtown, and already has served to spur additional retail, restaurant, and residential growth and interest in the city center.

About Downtown Development Authority
Downtown property owners voted to establish the Downtown Development Authority (DDA) in November 2006 to provide programs and financial support to encourage downtown development. DDA is governed by a board of 11 people appointed by Colorado Springs City Council. The DDA builds public and private investment partnerships that promote the economic growth of Downtown Colorado Springs. For more information visit www.downtowncs.com/DDA, or contact Downtown Colorado Springs at 719.886.0088.

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