OCR Text |
Show Sat/Sun/Mon/Tues, June 9-12, 2018 The Park Record A-3 City Beat SUMMER MEMBERSHIPS CITY EDITOR: JAY HAMBURGER 649–9014 EXT. 111 | citynews@parkrecord.com City Hall-led Treasure talk expansive Forum covers the finances, whether project is feasible JAY HAMBURGER The Park Record Mayor Andy Beerman, the leader of City Hall’s efforts to acquire Treasure in a conservation deal, made a wide range of statements about the agreement during a Tuesday evening forum, essentially outlining what will likely be the arguments in favor of a ballot measure to fund the purchase. Beerman participated in a panel discussion hosted by the municipal government at the Park City Library centered on the proposed $64 million acquisition of the Treasure land, located on a hillside overlooking Old Town along the route of the Town Lift. The other panelists have had important roles in the Treasure talks over the years, but Beerman’s presence was especially notable since he is seen as one of the City Hall figures most closely associated with the negotiations with the Treasure partnership that led to the deal. All of the panelists support the deal as well as the ballot measure City Hall will put to voters in November to fund most of the acquisition cost. They covered numerous topics during what was the most important gathering about Treasure since a series of midwinter City Hall meetings that dealt with the acquisition. A key point at the open house on Tuesday, and one that will likely be widely discussed during the campaign season, centers on the price and the impact on property taxes. The price tag that will be attached to a ballot measure — a bond vote — is not yet set but is expected to range between $50 million and $55 million. The impact on property taxes will not be known with certainty until a figure is finalized, but the municipal government has said a successful $50 million ballot measure is estimated to result in a $200 increase in taxes annually on a primary residence with a value of $768,000. A vacation home or commercial property with the same value would be charged an additional $364 annually, officials have estimated. The bond would be repaid over a 15-year period. Beerman outlined that people who own residences classified as primary would pay a combined $8 million of the overall total if the ballot measure is set at $55 million. Primary residences are taxed at a greatly reduced rate compared to vacation homes or commercial properties, leading to the disparity in the numbers. The rest of the total — approximately $47 million — would be paid by the vacation-home owners and owners of commercial properties, according to the calculations. Still, the mayor acknowledged the $64 million figure, which would be, by a wide margin, the most expensive deal in the history of Park City’s conservation program. “$64 million is a huge price tag,” the mayor said, adding that Treasure, if developed, would have “huge impacts” on the community. He also said the acquisition would be expensive, but Park City has long attempted to preserve Old Town. He predicted Treasure would have effects on traffic, small businesses and the historic character of the neighborhood. NOWiON SALE PLAY NOW TO LABOR DAY! 435.649.6670 www.SilverMountainSportsClub.com JAY HAMBURGER/PARK RECORD Mayor Andy Beerman outlines City Hall’s planned acquisition of Treasure during a forum Tuesday evening at the Park City Library. Other panelists, from left, included former Park City Planning Commissioner Adam Strachan, developer and onetime Planning Commissioner Rory Murphy and Nate Rockwood, a City Hall budget staffer. The Sweeney family in the 1980s secured development rights on the Treasure land and nearby parcels and spent more than a decade in talks with the Park City Planning Commission about a proposal involving approximately 1 million square feet of development on a hillside overlooking Old Town along the route of the Town Lift. Only modest progress was made during the discussions as the Planning Commission and opponents, many living on nearby streets, seized on issues like traffic and the size of the proposed buildings. City Hall and the Treasure partnership, consisting of the Sweeney family and a firm called Park City II, LLC, reached the $64 million Please see Treasure, A-4 MUSTANG i Restaurant i OPEN DAILY STARTING FRIDAY, JUNE 15TH $25 Off 2 Entrees Offer valid all summer season on credit card purchases only. 890 Main Street • Open at 5pm Reservations Required 435.658.3975 or mustangparkcity.com for immediate reservations General Manager Dustin Stein • Executive Chef Gregory Dills PRICE REDUCED $10 0,0 0 0 BE AUTIFU LLY BUILT PARK M E ADOWS HOM E –3 1 4 0 C R E S T L I N E D R I V E– 4 Bedrooms | 4.5 Bath | 4,280 Square Feet | 3-Car Garage | $2,490,000 Owners say let’s SELL this beautifully built Park Meadows home. If you are looking for a very well constructed home that is extremely low maintenance with main floor living this is the home you need to view. Solid hardwood flooring, 4 fireplaces, office, beautiful open kitchen open to the great room, 3-car garage, very low maintenance yard. Call for your private tour. Scott Kelly REALTOR ® 435.640.4340 | scott.kelly@sothebysrealty.com This material is based upon information that we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, including price, or withdrawal without notice; square footage is an estimate only. ©MMXVIII Sotheby’s International Realty Affiliates, Inc. All Rights Reserved. Sotheby’s International Realty® is a licensed trademark to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company. Each office is independently owned and operated. |