The United States Olympic Committee has accepted the city's offer to keep its headquarters and training facilities in Colorado Springs for at least the next 25 years.
The announcement came just hours after the Colorado Springs City Council voted 7-1 in approval of a $53 million incentive package at a special council meeting. The deal was aimed at enticing the USOC to stay in Southern Colorado.
The USOC, a fixture in Colorado Springs for nearly 30 years, had been considering various proposals to relocate from its aging facilities.
The new agreement will give the USOC a new headquarters building, renovations to an existing building and 158 new housing units for athletes at the Olympic Training Center.
"Folks, we're making history today. You don't get many opportunities like this one," said City Councilwoman Margaret Radford.
Governor Bill Ritter applauded the United States Olympic Committee’s decision to remain headquartered in Colorado Springs.
“This is a great day for Colorado Springs, all of Colorado and the United States Olympic Committee,” Gov. Ritter said. “We are extremely pleased the USOC has chosen to stay in Colorado Springs, and the state is proud to have worked alongside the city of Colorado Springs and many, many others to keep the USOC here in Colorado. With this decision now made, we must focus on making Colorado Springs the most comfortable and effective long-term home for the USOC and our American athletes.”