The USOC's Board agreed to extend its commitment to stay in Colorado Springs from 25 to 30 years in exchange for having the city take responsibility for $16 million (£9.5 million) in improvements to the Olympic Training Centre.

 

The $16 million (£9.5 million) is part of a $53 million (£31.6 million) agreement that also includes building a new USOC headquarters and new offices for a number of national governing bodies.

 

The original deal fell apart when the lead developer dropped out.
 

Stephanie Streeter, the acting chie executive of the USOC, said: "We believe this new arrangement, in the form it is written, is very positive for the USOC, the National Governing Bodies housed in Colorado Springs and the City of Colorado Springs as a whole.

 

"We look forward to the acouncil's deliberations and hope they will approve these agreements."
 

Construction is well under way on a new downtown headquarters for the USOC.

 

All the headquarters staff will be relocated in the new offices and training centre staff will continue to work on the current property.
 

The plan became public in March 2008, but was nearly sunk when the original developer, LandCo Equity Partners, backed out and filed a lawsuit against the USOC and the city this March, alleging they failed to hold up their parts of the deal.

 

The USOC, which had relocation offers from Chicago and other cities, has since been dismissed from the lawsuit.
 

Steve Long, a lawyer representing LandCo, said: "Even after filing suit in March, LandCo worked tirelessly to find a solution that works for all involved.

 

"This is a victory for the USOC and its athletes, for the residents of Colorado Springs and for LandCo alike."