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Show Deer Valley Pact Approved After months of discussion the City Council finally approved, last Thursday, the complicated "fourth amendment amend-ment and restatement to the Deer Valley agreement. The document, agreed to by both the City Counci: and Deer Valley sets the parameters parame-ters for the future development develop-ment of Deer Valley and makes provisions for the fulfillment of conditions of approval set forth in prior and this new agreement with the new resort. The agreement specifies Deer Valley's obligations to transfer water rights to Park City and to construct or participate in the construction construct-ion of water storage facilities and delivery systems. The agreement further establishes es-tablishes a density for Deer Valley of 2,237 units and sets forth conditional use procedures proce-dures governing the future development of the area. In addition, the agreement covers cov-ers parking requirements, commercial space and lockout lock-out bedroom units. As per the document, Deei Valley must developmenl and construct 211 employee housing units but will be allowed to build 84 of those units outside the Deer Valley development proper. The agreement goes on to cover the construction of amenities such as street lighting, pedestrian walkways, walk-ways, hiking trails and sports facilities. There is an option to the agreement which will allow in the future 50 additional units of density providing 50 percent of the proceeds for additional density to the School District ' and the remaining 50 percent towards to-wards an eventual performing perform-ing arts facility in the area. Finally, there is aprovision in the agreement which is designed to enforce measures mea-sures outlined in the document. |