The Park City Council Is Scheduled To Take One Last Look At GO Bond For Treauser Hill On Thursday
The Park City Council will be taking the final action of putting a general obligation bond for $48 million on the November ballot Thursday. They wanted to give the final decision to the community on purchasing the Treasure Hill property and place an easement on the Snow Ranch Pasture. Melissa Allison has more:
The Treasure Hill development proposed by the Sweeney brothers and their partners has been a bone of contention for more than 30 years among new and old residents.
There were many times the Park City Planning Commission had to move their meetings to the Jim Santy Auditorium to allow for the many members of the public who begged the commission to not approve the application.
In January the Sweeney’s and their partner Park City II, LLC told the city they would sell the entire property for $63 million.
During the city council’s public comment, members of the community told council to do it, but keep it simpl. They did not want the city to sell the TDR’s, transfer of development rights, to lower the bond.
They did however tell the city, do what you can to lower it.
Fast-forward seven months and the general obligation bond the city has prepared is for $48 million dollars and the city didn’t sell the TDR’s. They did however cancel the Brew Pub Plaza and many other capital projects and scheduled maintenance to bring the bond down.
Council will make the final decision to put the general obligation bond on the November ballot which now includes an easement for the Snow Ranch Pastures.
The public will have an opportunity to comment at Thursday’s meeting but Assistant City Manager Matt Dias says he doesn’t think the council has much left they could say.
“We have spent so much time over the last 30 years, but particularly, acutely over the last six months," Dias said. "And then even more so, the last month staff has gone through great lengths to provide an in-depth financial analysis about the finances behind this deal, how much money is needed to acquire both, the potential purchase agreements and we’ve really run that out in the open session - had a tremendous amount of public feedback.”
If anything, Dias said they may refine the language of the bond.
In regard to the easement, Dias says the council and staff were careful in how they moved forward on it.
“Overwhelmingly the public input was, ‘be bold, be resolute, these are the last two iconic properties in terms of open space that any of us can foresee and that this is really a capstone moment that we can put both of these, we can broaden the initiative in the more conventional open space bond and sort of go for it," Dias said. "Put them both on here and test the will of the voters. And so, I believe that council is just trying to reflect what they’ve heard in all of this public input.”
The proposed 15-year general obligation bond would raise primary homeowners’ taxes $24 for every $100,000 of their homes assessed value.
Second homeowners and businesses would pay $44 for every $100,000 of their home or business assessed value.
The meeting begins at 6 p.m. on Thursday.
I’m Melissa Allison, KPCW News.