OCR Text |
Show CITY BEAT jWforker housing loan OlCd CITY EDITOR:Jay Hamburger 649-9OI4ext.HI cltynews@parkrecord.com City Councilors agree to help a firm with a project in Old Town ; ' By JAY HAMBURGER Of the Record staff A development firm recently won a loan from City Hall to help fmt up a work force housing project jn Old Town, a crucial deal as the developer prepares for more talks with the Park City government about the project. The Park City Council, acting in its role as the city's Redevelopment Agency, approved a $1,650,000 loan to Elliott Development. Craig Elliott, a Park City architect, runs the development firm. Elliott is interested in building a work force development on land it owns on the 1300 block of Woodside Avenue, near the senior-citizens center and Old Town fire station. The firm bought the land in February for $1,650,000, Elliott said in a June letter to Park City Manager Tom Bakaly. The loan initially carries a variable interest rate of 8 percent, which would be adjusted each quarter depending on what City HalTs investment pool earns. Once Elliott receives an approval for a work force housing development, the interest rate would fall to 3.55 percent. The term is 18 months with an option of two six-month extensions. The deal also provides City Hall with "preferential options" regarding a development, such as the right of first refusal on the units, according to a report submitted to the elected officials beforehand. City Hall has previously supplied loans to work force housing developments like Aspen Villas, Holiday Village and the Line Condominiums, according to the report. It is rare, however, for a private-sector figure like Elliott to pursue a work force development thai is not tied to a larger project sold at market prices. The local government owns the senior-citizens center land and the nearby property where the Park Avenue fire station once operated. There is talk of the prospects of cooperation1 between City Hall, Elliotts firm and neighboring land owners to develop the immediate area. Those discussions have not commenced in detail, however. There was a mention during the recent meeting of involving officials from nearby Park City Mountain Resort in the discussions. A nearby property owner told the elected officials a development should fit well into the neighborhood. Nobody else testified at the recent meeting. More testimony is expected once Elliott starts talks MOTORIZED WINDOW EXPERTS Mayor exits the talks By JAY HAMBURGER Of the Record staff Mayor Dana Williams, a real estate agent, has removed himself from the talks between City Hall and a private-sector developer about a work force housing project, saying he was involved in the sale of the property to the developer. Williams said in an interview he represented the person who sold the property to Craig Elliott. Elliott's firm recently won a loan from City Hall for the project. The deal between the person Williams represented, Paul Marsh, and Elliott's side closed in February. In a June letter to Park City Mannger Tom Bakaly, Elliott indi.alecThe paid $1,650,000 for the Officers receive reports of a couple stealing, fleeing in a car with Calif, plates The Park City Police Department received two complaints of a couple reportedly stealing from stores in Park City, with BLINDS BEDDINGS & DRAPERIES with the city's Planning Commission about the project's details. Elliott had not filed an application for the development by early in the week. Elliott has said in a previous interview with The Park Record he is "looking for the type of project I want to do personally in my town," describing his interest in putting up work force housing. That sort of housing is typically not as lucrative for developers as market-priced units. The loan approval was expected, and it continues what city leaders have long said is their commitment to work force housing. They say Park City is better off if people of varying economic means live locally. Benefits, they say, include more economic diversity and reduced commuter traffic. Elliott designed the Line Condominiums on Deer Valley Drive, and City Hall hired him to design the proposed Snow Creek Cottages on Park Avenue, another work force project. property, which is on the 1300 bock of Woodside Avenue. City Hall's conflict-of-interest rules bar city officials from participating in talks about issues they have a financial stake in. Williams said there was "quite a bit of negotiation1' on the price. The mayor, who has long championed work force housing, said he was not aware of Elliott s plans for the site when the sale closed. Williams said he declined an opportunity to be briefed on the plans. Before being elected mayor in 2001, Williams had discussed the property as a possible site for senior-citizen housing. He said he is not "adverse" to Elliott's plans to build work force housing. public police logs describing two incidents that appear similar to one another. In the first, reported on Saturday, 1. •jiHunterDouglas OUR DESIGN TEAM IS READY TO HELP '.V&"<& Sunscreen Shades Custom Draperies & Beddings Fabulous Selection of Fabric & Trims Free In-Home Design Service Home Automation Pre-wire new homes Retro Fit Home Specialists Free Consultation Kimball Junction 435.649.9665 • 1.800.264.9039 www.parkcityblind.com POLICE BLOTTER 1 A-5 The Park Record Wed/Thurs/Fri, September 17-19, 2008 Sept. 13 at 10:36 p.m., the police were called from Sidewinder Drive, where a man and a woman entered a store and reportedly stole several items. They left in a silver-colored Honda with a California license plate. The log does not provide VISIT OUR NEW SHOWROOM SPACE "*- •":. .-.i'-1 Please see Police. A-6 IS NOT OVER YET! v school and the: leaves' : are-ena.. color, doesn't mean your summer fun; is over... The Canyqns Resort will be OPEN WEEKENDS THROUGH SEPT. 28TH , 10:00 A.M. TO 6:00P.M..« Take a scenic gondola ride and enjoy the fall colors as our award-winning culinary team prepares you a gourmet lunch at 8,000 feet. 20% OFF food and non-alcoholic beverages with your gondola ticket purchase! newpark Dr. Jon F. Coleman, D.D.S Fall Hours: Saturday/Sunday Lunch: 11:00 a.m. to 3:00 p.m. (weather permitting) State of the Art Dental Practice is Now Open Dr. Jon Coleman, a resident of Park City for 12 years is now practicing full time in Park City, Stop by or call to meet Dr. Coleman and his staff and to schedule an appointment PflHK 435-604.0887 smile @newparkdentistry www.newparkdentistry.com CITV, UTAH © 20Q3 Thg Ganycm AilRi^lsRefrvt-J Ifra Cairyzns and Ihe rnaniajn logo are re£i:ltffd tra&purla af Tfis Cannons PHMI. FOR MORE INFORMATION, VISITWWW.THECANY0NS.COM OR CALL (435) 649-5400 |