Initially delayed due to the bond market crisis as the pandemic took root a year ago, financing for the Air Force Academy Visitor Center project is now queuing up.
Blue & Silver Development Partners is likely to win approval from City Council in February to increase the amount to be issued by the projectâs Business Improvement District by $10 million â to $90 million. That money will fund infrastructure for the Visitor Center, such as drainage, utilities installation, landscaping and architecture and engineering for the 57-acre site.
The increase stems largely from escalating costs since the project was penciled out in 2019.
In addition, Louisiana-based nonprofit agency Provident Group-USAFA Properties LLC plans to issue up to $225 million in bonds to fund construction of a nearly 400-room hotel at the project site, at the Academyâs north entrance at Interstate 25.