An Exciting Step Forward
In mid-April, three local banks teamed up to buy bonds issued by the Colorado Springs Urban Renewal Authority, secured by a state-approved tax increment arrangement, and $26.2 million was immediately available to support the construction phase of the Museum project. In conjunction with nearly $49 million in commitments from foundations and private donors, the U.S. Olympic Museum and Hall of Fame has secured pledges and contributions totaling $75 million:
- $33 million – grants
- $26.2 million – bond proceeds revenue
- $16 million – individual and family gifts
With this financial plan in place, the Museum will enter the construction phase as the first element in the City for Champions initiative.
U.S. Olympic Museum and Hall of Fame Groundbreaking Ceremony
Friday, June 9
In early June, the Board of Directors and many other key partners will officially break ground on the United States Olympic Museum and Hall of Fame. This ceremony will formally begin the construction phase of the project that will honor the power, perseverance and pride of our United States Olympic and Paralympic athletes. This exciting venue will become a world-class, iconic museum in the heart of Colorado Springs that anchors our community as Olympic City USA.
The Museum’s numerous consultants, contractors and partners have been hard at work to prepare the construction site and complete project design/design development documents. In addition to the commencement of utilities work on the construction site in late April, shoring and excavation on the site will begin later in May. The construction effort will make significant progress through the remainder of 2017 and you will be able to monitor the site via a live video feed on our website in a few weeks. The Museum’s design team continues to make progress on the final architectural and exhibit design plans, which are expected to be completed before the end of the year. Additionally, the Olympic Museum has many other exciting future activities in the works, including:
- A Colorado Springs-based community campaign
- A national marketing and awareness effort
- A targeted engagement program for U.S. Olympians and Paralympians
Check back soon for construction updates!