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City Council votes 6-3 in favor of the resolution regarding the Land Exchange

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COLORADO SPRINGS, Colo. – Following an extensive discussion and public input today, relating to the proposed land exchange between the City of Colorado Springs and the Broadmoor, the City Council voted 6-3 in favor of a resolution authorizing a land exchange between the City of Colorado Springs and the Broadmoor.

Through this exchange, the city will gain 371.21 acres of property and 115.4 acres of new public trail easements in exchange for its 190.05 acres. The value of the property the City will receive has an estimated fair market value of $3,609,800 which exceeds the estimated value of the property the City intends to transfer, which is $2,161,000. To learn more about the proposal, please visit https://www.coloradosprings.gov/proposedlandexchange.