Manitou Springs approves $3.2 million settlement with Cog Railway
The City says the agreement will end the railway’s tax incentive and future payments under a 2018 arrangement that could last up to 50 years.
Published El Paso County
A red passenger train on the Pikes Peak Railway.
Manitou Springs City Council approved a $3.2 million settlement with the Manitou and Pikes Peak Railway on Aug. 4, 2026. The City says the agreement will void the railway’s tax incentive and end future payments under it, the City announced. The Council’s approval is confirmed in the City’s Aug. 14 recap.
The City’s 2018 tax-incentive agreement allowed the arrangement to last up to 50 years. It required the City to reimburse the railway for excise-tax receipts above specified annual base amounts.
The City has not said who will pay the settlement or when payment is due.