COLORADO SPRINGS, CO – Plans to reopen the Cog Railway are moving forward.
The Manitou Springs City Council held a special meeting to discuss a tax incentive program agreement with the Pikes Peak Cog Railway.
City Council unanimously voted to approve the agreement on the first reading.
That means the Cog Railway owners will pour tens of millions of dollars into fixing the attraction, if the city can give them tax breaks.
The cost of rebuilding the railway is between 75 and 95 million dollars… all privately funded.
Construction could begin this summer and be complete in 2020.
Another meeting and public hearing will be held on June 26th.
