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Show THE Wednesday, May 22, 19H PARK CITY Smiles & cum . Page Red Hair Bond Issue Resolved MOUNTAIN REALTY that we can to carry out building proceed "Im property value increases. pleased Revenue from bond sales will be used to finance a four phase master plan. Phase One will entail the completion on new school facilities on the forty-acr- e site located in the Holiday Ranch area. This phase will cost an estimated $1,600,000, $850,000 of which will come from State Critical Building Aid. Phase Two will be the repair and upgrading of existing facilities. This work is required to meet safety regulations and educational requirements. Providing a new elementary school will be the goal of Phase Three. Phase Four will consist of enlargements and additions to plans" was Dennis Nelsons response to the passage of the three million dollar school bond issue. The Superintendent of Schools stated that the twenty-fiv- e percent of Park Citys registered turned out for the election which resulted in a 295-4- 4 vote in favor of the bond issue. This compares favorably with a five percent turnout in Salt Lake City for a similar election. The precincts most heavily in favor of the bond issue were Precincts 1 and 5. Precinct 1, which encompasses an area that runs north from Tenth Street, and Precinct 5, which includes Snvderville and Summit Park, are the precincts with the largest school population. The first bond sale will be for $825,000. This figure is based on thirteen and one third per cent .of the school districts property valuation. The balance of the three million will be sold as the Ron Purdom and Craig Masters From any mans point of view, be he builder, buyer, broker or renter, the city is going to have to adopt a more flexible building code. This was .the gist of an interview that the Coalition held with RonWaterbed Purdom and Craig Strawberry" Masters, partners in Mountain Realty of 434 Main Street. Ron came to Park City from Fort Worth, Texas, via Hawaii, where he ran a concession operation dealing in surfboards and the like at Waikiki for two and a half years. From Waikiki, Ron came to Salt Lake City where he went into business wholesaling waterbeds. He decided to move to Park City and after selling beds to a lot of the people he knew - mostly ones with 'houses that would support them -his market kind of dried up, so to speak. Realizing the potential of the area, Ron went into the real estate business with a broker who was up here. His partner, Craig, came from Stockton, Illinois, via the Mobil Oil Company, for whom he was a field representative for three and a half years. Craig met Ron while visiting some friends out here and upon evaluating his job, with respect to the size of Mobil Oil, he realized that it was a dead end. So. ..it took him a little over a month to effect the change to real estate, and he and Ron opened Mountain Realty early in 1973. What was fortunate for both of them was that Craig already had his brokers license. This is an important fact because in Utah, unlike many other states, you have to be a real estate salesman for three and a half years before you can take the exam for a brokerage license. Because he already had his license, he was able to take the Utah exam immediately. Both Craig and Ron stated that the real estate business is a good one to be involved in in this area. However, you have to be very careful with your presentation due to the fluctuating building s plans to have his securities broker's license by the end of the summer. With this license, they will be able to sell larger condominium developments and speculation properties that have to be registered with Craig the Securities deal. With respect to the town, both. Ron and Craig feel that the thrust of building and building codes is somewhat misdirected. They believe that the codes should be directed at housing for per 1, 91 for, 9 opposed; Precinct 2, 46 for, Precinct 3, 43 for, 11 opposed; Precinct 4, 39 for, 8 opposed; Precinct 5, 76 for, 6 10 opposed; Clark, Mardi Smith and Joan Seman profusely thank all the people, establishments and businesses that helped with the clean-u- p picnic. Sorry the How about the impact from the increase in mining activity? Where will these people live with the present emphasis on nightly accommodations? With the building costs set up the way they are now, its too expensive to build what is really needed lower cost housing. Park City is considered to be a historic district, and the Master Plan Committee feels that in order to retain the old mining town' flavor, new buildings should be facsimiles of Victorian structures. The problem is the same one that people faced originally, way back when, the expense. Victorian structures were in the minority and were expensive then, and even more so now. How many Victorian-styl- e buildings were there then in Park City, and how many are still standing now? In a city like Aspen. Colorado, armaintaining a Victorian-styl- e chitecture is fine because the men who owned the mines lived in town and built their houses in town, and many still stand. Our Park City millionaires also built some beautiful Victorian structures; unfortunately, they are located around South Temple in Salt Lake City. What we have in Park City is more frontier to architecture. The early lean-t- o local builder has been priced out bf existence by the building restrictions. What should be of greatest importance is the existence of a building code best y suited to support the whole residents permanent and seasonal employees, as well ' didnt cooperate. Detailed to next weather gratifications follow . week. . Q -- headaches involved, and, as Craig stated, Park City is a bundle of snakes when it somes to land titles, surveys and the like. Exchange Commission. Another point brought up by Craig and Ron is that there is a great misconception that many people have concerning the real estate business - that it's easy money. Now most people think that a broker is contacted by the seller, the broker finds a buyer, gives a pitch, gets some earnest money, has the papers passed, and collects his commission. Not so. They said that because this is a resort area, many of their buyers come from out of state. Consequently; Mountain Realty does all the legwork to get financing, title insurance, etc. With the criteria for moneylending changing so rapidly, money is really hard to get; Ron and Craig often have to make $300-$40- 0 worth of phone calls each month. They did mention that having two banks i town has helped them out a great A breakdown of the results by precincts is as follows : Precinct . iapartment building; by the time he has finished building, the costs, not only of the materials, have risen so high that people dont want to pay what he has to charge to cover himself. presentation to their clients. Fra-thiand other reasons, they are on planning moving away from rentals, older home sales and small lot sales to large parcel sales, condominium, developments and syndication agreements. They will continue to handle small lots and houses, although they won't solicit them. There are just too many Phase One. Anne manent residents also. For example, a man builds a mult- codes. Standards that were correct yesterday are sometimes incorrect today. As a result, they have to be doubly sure of the 10 com-munit- 1 as. tourists' . A final comment about the real estate business and themselves was rather humorous. Ron said that such a large percentage of the town has real estate licenses that they "will have to wear badges so they wont pitch each other." LnCATTfESWV DELICATESSEN and LIQUOR STORE SPECIALIZING IN Imported & American Delicacies HOURS 12:00 am to 10:00pm 7 days a week PHONE 649-895- 7 436 MAIN STREET . PARK CITY, UTAH r Hi SLC Departure 1 Schedule Departs Continental Bus Depot Arrives Park City 8:30 am 9:15 am 500 pm 400pm aii viiy Departure Schedule Departs Arrives TMf .. 900 am 5:15 pm y ' - SLC v K15 am 6:00pm height carried on all schedules...reasonable rates. $2.50 one way $4.65 round trip FARES |