Friday, January 13, 2017

U.S. Olympic Museum wants money from Colorado Springs

Posted By on Fri, Jan 13, 2017 at 3:26 PM

click to enlarge An artist's rendering of the project. - U.S. OLYMPIC MUSEUM & HALL OF FAME
  • U.S. Olympic Museum & Hall of Fame
  • An artist's rendering of the project.
The U.S. Olympic Museum & Hall of Fame wants tax money to help build the museum southwest of downtown, according to a recent filing.

The museum has filed an application for Lodgers and Automobile Rental Tax money from the city, seeking $500,000 over three years.

Using LART money for capital improvements isn't unheard of — upgrades to tennis courts to be used for pickle ball is one example — but it's rare.

The museum, part of the city's City for Champions tourism venture that features four venues, needs money fast. It lacks some $8.6 million of making its $75.3 million goal. Projected completion is sometime in 2018. The museum and other three projects — a sports medicine center at the University of Colorado at Colorado Springs, an Air Force Academy visitors center and a downtown stadium — must see substantial progress within five years in order to receive state tax money under the Regional Tourism Act. The state granted the city $120.5 million in December 2013.

Here's a description of the LART program:
The City of Colorado Springs’ Lodgers and Automobile Rental Tax (LART) fund is administered by City Council, with the guidance of the LART Citizen’s Advisory Committee. LART funds are required to be used for tourism or economic development purposes — events, projects and services that attract visitors or enhance the economy of the City and Pikes Peak Region.
Read the application here:

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