Update March 13, 2025 3:30 p.m.: Deer Valley's public financing request has been continued to a later date, according to Park City Municipal. The delay came at the resort's request. Original story below.
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Deer Valley Resort is asking the Park City Council for permission to form three public infrastructure districts, or PIDs, in Snow Park.
A PID can issue bonds that are repaid through property taxes or assessments on the properties within the project area, which in this case, is the Snow Park parking lots.
Deer Valley’s attorney previously told the city council that a PID will allow the ski resort to obtain more advantageous financing as it seeks to develop Snow Park into a new village with commercial space, hotel rooms and condos.
The Park City Planning Commission recently approved a permit for Deer Valley to begin building an underground parking garage later this year, along with a new underground transit center and other road and utility improvements.
In 2023 the city council reached an agreement with Deer Valley over a right-of-way easement for the Snow Park project.
In exchange for giving Deer Valley the space to construct the new base village, the resort committed to a reduction in day skier parking and agreed to pay Park City $15 million for a new transportation facility.
The letter of intent also stipulates that Deer Valley would be allowed to set up a PID, which doesn’t involve any city tax dollars.
Karen McShea, who manages community development for the resort’s owner Alterra, wrote in a letter to the city that Deer Valley is not seeking any other public financing tools at this time.
McShea also wrote that Deer Valley is open to engaging with Park City on its plans to redevelop the Main Street core. Park City officials have been discussing a plan to build a gondola between the top of Main Street and Snow Park.
Residents can comment during Thursday’s public hearing before the Park City Council votes on Deer Valley’s PID request.
The meeting agenda and a link to attend virtually can be found here.
