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Show A-4 The Park Record Sat/Sun/Mon/Tues, January 27-30, 2018 Treasure deal made quickly Mayor says there was groundwork allowing fast pace JAY HAMBURGER The Park Record After more than a decade of on-and-off discussions about the Treasure development proposal, a deal for City Hall to acquire the hillside land was negotiated over the course of a single day. It is an extraordinary turnabout, both in the breakneck pace and the breadth of the agreement. It is also stunning how quickly the deal was made after officials over the years were unsuccessful in other attempts. The talks about the Treasure development itself were expected to continue at a Park City Connect, Eat & Play at the Sunset Room Board Game Cafe Acquisition would have wide-ranging benefits, group says The Park Record Mon–Fri (3–5pm) After-School Special 1/2 off game play with student ID Mon: Local’s Night Free Game play with Utah ID 1781 Sidewinder Dr. #301 (3rd Floor) | Park City | 435.731.8282 | Sunsetroomparkcity.com an agreement provided groundwork that allowed the quickened pace on Wednesday. City Hall previously considered the land’s value and the impacts of an acquisition, the mayor said. City Hall and the Treasure side had been in negotiations involving the municipal government acquiring a 50 percent stake in Treasure for $30 million. The deal would have involved the Sweeney family’s one-half share in Treasure. The other side of the Treasure partnership, a firm called Park City II, LLC, would have pursued a reimagined, scaled-back project under that agreement. Pat Sweeney, who represents his family in the talks about the Treasure development itself but not in the negotiations about a City Hall acquisition, acknowledged the quick pace on Wednesday. “It happened yesterday. Holy smokes,” Sweeney said. Treasure deal is a ‘dream’ JAY HAMBURGER Great Food Hot Drinks Cold Brews Vibrant Music High Speed Internet Planning Commission meeting on Wednesday evening. The meeting was canceled shortly before the panel was scheduled to convene, and several Planning Commissioners were already at the Marsac Building. Mayor Andy Beerman said the $64 million acquisition price was under negotiation on Wednesday, the day before the number was made public. He said there were several City Hall offers and Treasure counteroffers on Wednesday. State law allows a municipal government to discuss property deals in private, and the numbers attached to the offers and counteroffers remain guarded. “It was a wild day yesterday,” Beerman said. He also described the agreement as a “very abrupt course correction or turn” on the Treasure side. Beerman said the earlier unsuccessful attempts to negotiate The opposition to the Treasure proposal has repeatedly called for City Hall and the developer to reach a conservation agreement that would eliminate the prospects of a project of any size on the high-profile hillside. Park City officials on Wednesday did just that as they finalized a rapid round of negotiations resulting in a deal to acquire the Treasure land for $64 million. The agreement hinges on Park City voters in November approving a ballot measure that will be set at approximately $50 million, with the remaining sum expected to be raised from the City Hall budget. The opposition quickly cheered the agreement as something that will benefit the entire community. The opposition has long argued that the impacts of Treasure if it is developed would stretch through Park City with traffic backups, years of construction and what Continued from A-3 Price reduced sell the land at this point in the decades of discussions about the development. The sides are “realistic” now, Beerman said. “I think everybody came back down to earth,” Beerman said about the difference between the two numbers. He also said City Hall in 2011 was a “motivated buyer, and they were not a motivated seller.” The Treasure land is located on a hillside overlooking Old Town along the route of the Town Lift. The Sweeney family, the traditional owner of the land, in the 1980s secured an overall project critics say would be a blight on a hillside overlooking Old Town along the route of the Town Lift. “It’s been our dream, our vision, our hope,” said Brian Van Hecke, an Empire Avenue resident who was one of the founders of a Treasure opposition group called the Treasure Hill Impact Neighborhood Coalition. Van Hecke expressed gratitude toward the Treasure partnership, consisting of the Sweeney family and a firm called Park City II, LLC, for its willingness to negotiate an agreement with City Hall. He also praised the efforts of a roster of Park City officials, including Mayor Andy Beerman and former Mayor Jack Thomas. Van Hecke said a conservation deal for Treasure would trump City Hall’s acquisition of Bonanza Flat as the most critical land purchase in Park City’s renowned open space program. The Treasure land is centrally located while Bonanza Flat is remote, he argued. “We believe Treasure Hill is even more important because it’s right in front of us,” Van Hecke said, adding, “The benefit will be even greater for generations to come.” He said the Treasure Hill Impact Neighborhood Coalition in- tends to advocate in favor of the ballot measure. Van Hecke acknowledged the approximately $50 million would be a “big ask” of Park City voters, but it would be a worthy expenditure. “It is the best investment we can make as a community – to protect and preserve historic Old Town and the quality of life we love in Park City,” Van Hecke said. The Treasure opposition in recent weeks continued to press for an agreement that involves the elimination of a project in any form. There has been concern that voters would reject a ballot measure that would fund the acquisition of 50 percent of the development rights attached to the land, leaving the rest of them intact. There did not appear to be an opportunity for City Hall to negotiate a full buyout until this week’s moves. The Treasure Hill Impact Neighborhood Coalition’s membership stretches through the area, but the core group of opponents generally hails from streets close to the Treasure land like Lowell Avenue and Empire Avenue. Backers of a ballot measure to fund a Treasure deal would likely need to press the issue across Park City neighborhoods to secure the support needed for passage. development approval for the Treasure land and nearby parcels. The family later sold a 50 percent stake in Treasure to a firm called Park City II, LLC. The Treasure side has spent more than a decade in on-and-off talks with the Park City Planning Commission about a project of approximately 1 million square feet, including a hotel, commercial space and convention facilities. People who live nearby and the Planning Commission continue to have deep-rooted concerns about issues like the traffic Treasure would be expected to generate, the height of the project and the impacts of construction. There have been various negotiations between City Hall and Treasure about the municipal government acquiring some or all of the development rights, shifting those rights to a spot deemed better suited for growth or a reimagined design. The Planning Commission appeared to be preparing to cast a ‘Nay’ vote on Treasure late last year, triggering a flurry of private discussions involving the elected officials and the developers that yielded the $64 million agreement. Craig Call, an attorney who represents Park City II, LLC, declined to discuss the drop in price from just under $93 million in 2011 to the current figure. Pat Sweeney, who represents his family in the Treasure development talks but not directly in the discussions about a City Hall acquisition, said the 2011 discussions that led to the nearly $93 million figure involved the Treasure side talking about high numbers and the City Hall side countering with low numbers. “I don’t think they got to the middle point, where reality was,” Sweeney said. C É É . D . P . N . Expires 2/1/18 LIVE DJs EVERY WEEKEND! Friday ~ DJ JD Saturday ~ DJ Funkee Boss PARTY WITH US ON SUPERBOWL SUNDAY 2/3 $1 Pick ‘em and prizes! M S • .. • . O : |