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Park City approves $98M budget with funds for roads, childcare and recreation

City Hall can be seen from Treasure Hill in Old Town, Park City.
Parker Malatesta
City Hall can be seen from Treasure Hill in Old Town, Park City.

The Park City Council approved the fiscal year 2025 budget Thursday. It includes millions for local transportation projects.

On Thursday the city council unanimously approved the $98.5 million operating budget for the next fiscal year, which begins July 1.

The city has allocated money for a variety of capital projects, including adding sidewalks to Homestake Road, bus stop enhancements around town, and increasing bike and pedestrian access in Thaynes.

Park City Mayor Nann Worel said the infrastructure investments are important to keep the town running during busy periods.

“I think that this budget really reflects our commitment to public service, and how do we keep the high level of service that we do for a relatively small town,” Worel said. “We’re 8,500 people, but we swell to 80,000 for example during Sundance. And so we have to have the services to be able to accommodate that and to have that flux. Our residents demand a high level of service, as well they should. And so we want to make sure that our budget reflects that priority.”

City staff, along with the mayor and council, are getting a roughly 2% pay increase.

The new budget also includes $3.5 million to bury transmission lines in Bonanza Park, an area that is slated for future development.

The council also set aside $75,000 to plan for the 2034 Winter Olympics.

With the retirement of a general obligation bond, taxpayers will enjoy a drop in the city’s portion of their tax bills by about $70 for a home valued at $2.3 million.

For more details on how Park City Municipal is spending tax dollars, visit kpcw.org.

Included in the FY25 (operations and capital) budget:

  • $9.4 million for the Homestake roadway and multi-use path and sidewalk.
  • $10 million for multi-use community projects with affordable housing. 
  • $825,000 to support affordable childcare for working families.
  • $638,500 for essential non-profit services.
  • $15 million for a Park-and-Ride near the intersection of S.R. 248 and U.S. 40.
  • $3.5 million to underground transmission lines in Bonanza Park.
  • $2.5 million for bike and pedestrian improvements in Thaynes/Three Kings area.
  • $1 million in additional investments in the City’s workforce.
  • $15.2 million for a new Community Center at City Park.
  • $7.5 million for new aquatics facilities at the PC MARC.
  • $8.5 million for bus stop improvements, including shelters and ADA upgrades.
  • $75,000 to plan for the 2034 Winter Olympics.
Corrected: June 21, 2024 at 5:07 PM MDT
Park City Municipal originally reported $10 million of next year's budget would go to multi-use transportation projects. City officials said Friday afternoon that was incorrect and those funds will go to multi-use community projects with affordable housing.