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An old furniture store in downtown Colorado Springs, above, is being transformed into new headquarters for the U.S. Olympic Committee.The ground floor would be leased for retail, with the USOC taking the rest.
An old furniture store in downtown Colorado Springs, above, is being transformed into new headquarters for the U.S. Olympic Committee.The ground floor would be leased for retail, with the USOC taking the rest.
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Construction on the U.S. Olympic Committee’s new headquarters building in the heart of downtown Colorado Springs isn’t just behind schedule.

The beleaguered project had racked up at least $1.3 million in cost overruns as of a month ago, according to e-mails obtained under a Colorado Open Records Act request.

And it gets worse.

The remodeling of an old Colorado Springs Utilities building near America the Beautiful Park, which the Olympic-themed national governing bodies plan to use for offices, is behind schedule and grappling with cost overruns, too, documents show.

Kurt Kaltenbacher, president of the Copestone Co., the general contractor on the NGB building, expressed frustration about the delays in a Feb. 25 e-mail to City Manager Penelope Culbreth-Graft.

Kaltenbacher laid most of the blame on the developer, LandCo Equity Partners, and its chairman, Ray Marshall.

“Contrary to Gazette quotes from Ray Marshall that those projects are under control, we are currently two months behind schedule and counting because LandCo has refused to even discuss four primary change orders required and approved by USOC as well as required by the Building Dept.,” he wrote.

Kaltenbacher did not return a call for comment Tuesday.

Read the rest of this story at .

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