El Pomar invests $1 million to support cycling in Colorado Springs

El Pomar invests $1 million to support cycling in Colorado Springs

 

Colorado Springs, April 12 – The possibility of a world class mountain biking facility in Colorado Springs would be “a wonderful asset to the Pikes Peak Region and the State of Colorado” said El Pomar Chairman and CEO William J. Hybl at today’s news conference. For this reason, El Pomar Trustees have voted to commit $1 million, $100,000 per year for 10 years, to underwrite the City of Colorado Springs’ operational expenses for such a park.
 
The renderings released last week, designed with funds from Transit Mix, for a world class destination bike park create an exciting opportunity for amateur sports in Colorado Springs. While this grant will not be site specific, the location suggested by Transit Mix has the added benefit of being a creative solution to reclamation.
 
The Penroses invested dramatically in large projects that would reshape the landscape of Colorado Springs, and enhance the well-being of Colorado’s communities, and the Trustees of El Pomar have remained true to their vision. Since 1937, El Pomar Trustees support for amateur sports and facilities totals almost $100 million.
 
City of Colorado Springs 2014 Park System Master Plan laid out an intent for the City “to establish a strategy to become a certified International Mountain Bike Association (IMBA) Ride Center”; the plan includes a desire to leverage existing assets to create a destination mountain bike center. “While I don’t know if all of the sketched land is safe for recreational activity, if you include the buffer zone acreage from the renderings, it appears there is quite an opportunity to realize the community’s vision. The Trustees would be proud to be part of this project and would help ensure its operation for years to come,” said Bill Hybl.
 
“The Parks Department through its Master Plan process, has expressed a desire to put a world-class mountain bike park in Colorado Springs for several years now,” said Colorado Springs Mayor John Suthers. “Obviously such an amenity while a great benefit to biking enthusiasts, requires funding both to build and to operate. With this generous gift from El Pomar, we are one major step closer to realizing this particular element of the Master Plan and for that we are very grateful.”
 
“To have a world class facility where Team USA athletes could train in our community would be a tremendous asset,” Derek Bouchard-Hall, President and CEO USA Cycling.
El Pomar Foundation is one of the largest and oldest private foundations in the Rocky Mountain West.  El Pomar contributes more than $22 million annually through grants and Community Stewardship programs to support Colorado nonprofit organizations involved in health, human services, education, arts and humanities and civic and community initiatives.  Spencer and Julie Penrose founded El Pomar in 1937.