SUBJECT:
Title
A Resolution of the Board of Trustees of the Town of Erie Approving a Sponsorship Agreement with Team Colorado Cycling
Body
DEPARTMENT: Economic Development
Responsible Department
PRESENTER(S): Julian Jacquin, Economic Development Director
Todd Stevenson, Team Colorado Cycling
First Name, Last Name, Title
FISCAL SUMMARY:
Cost as Recommended: $50,000
Balance Available: $0
Budget Line Item Number: 100-22-910-575140-000000
New Appropriation Required: Yes
POLICY ISSUES:
The key policy decision is whether to support Team Colorado Cycling in the sponsorship of various events and activities to be hosted at the Boulder Valley Velodrome at 601 Bonnell Avenue, Erie, CO 80516.
STAFF RECOMMENDATION:
Recommendation
Approve the Sponsorship Agreement with Team Colorado Cycling for the sponsorship of various events and activities.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Boulder Valley Velodrome (the "Velodrome") opened at 601 Bonnell Avenue in Erie in the spring of 2015, at the northwest corner of E. County Line Rd. and Bonnell Ave. At its peak, the Velodrome had more than 450 annual members and 250 racers weekly. The original owners listed the Velodrome for sale in 2017, and the track has been closed to cyclists since the fall of 2019. Since that time, various groups have inquired about purchasing the Velodrome to raze the facility and develop housing or other business uses, but there has been a strong community response to save the Velodrome. A new team led by BVV Holdings LLC and Team Colorado Cycling ("Team Colorado", a nonprofit) is now under contract to purchase the Velodrome, repair, and reopen the facility to cyclists, and host various events and activities for the Erie community.
In purchasing the Velodrome, Team Colorado wishes to host various events and activities at the Velodrome, such as movie nights, concerts, food truck festivals, free Erie community days, pickleball tournament(...
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