Long story short 

Just when the city thinks it's in the clear on its controversial U.S. Olympic Committee deal, it gets another pie in the face.

Last week, LandCo Equity Partners leaders were slapped with racketeering, theft and fraud charges, meaning the city's hand-selected USOC developer was financially unstable — a truth that eventually killed the original deal — and allegedly crooked.

That in mind, some are waiting for another shoe to drop. What about Mayor Lionel Rivera? He invested money for one of the indicted, Ray Marshall, on the eve of the city's deal-making. (See "LandCo legacy" here.)

"Time is the enemy of people who are trying to cover up; it sounds to me like time may be the enemy of the mayor, too," says attorney Lindsay Fischer, no fan of the city's issuing debt to finance the package.

"Most of the time, birds of a feather do flock together," he adds, "but there are exceptions."

Rivera, as usual, isn't talking after the indictments. But Councilor Scott Hente says of Marshall, "I will tell you that I am glad that he's out of the picture now."

Hente was never fond of LandCo's proposal. He preferred Classic/Nor'wood's idea of a new 10-plus-story building southwest of downtown, topped with one of the world's most recognizable symbols — the Olympic rings.

But, oh well.


Subscribe to this thread:

Add a comment

Latest in Long Story Short

More by Pam Zubeck

All content © Copyright 2019, The Colorado Springs Independent

Website powered by Foundation