The Park City Planning Commission is reviewing a mixed-use development proposal for the 5-acre Bonanza Park site, bordering Kearns Boulevard and Bonanza Drive.
Purchased in 2017, the Park City Council has spent nearly a decade deciding what to put on the property. That work has cost the city almost $24.4 million, including $19.5 million to buy the land, over $4.4 million for design and development and almost $500,000 for property maintenance.
Budget director Todd Darrington said the city is funding the site through transient room taxes from overnight and short-term lodging guests. The tax has paid over $13 million of the bond so far.
“Since its inception, we've gotten just under $32 million in revenue,” Darrington said. “That $31 million is used to pay our bond payments on an annual basis, as well as hold in reserve for whatever development occurs in the site itself.”
Current site plans feature 106 rental units — including 88 affordable — arts, fitness, restaurant, child care and open space.
Some locals have pushed back on the project since preliminary plans were approved in March.
As of Sept. 30, resident group Place PC had gathered 2,400 signatures from Parkites who want the city to end its partnership with Brinshore Development. That would come with an at least $75,000 termination fee, according to an exclusive negotiation contract.
One member, Jimmy May, urges the city to pay the fee.
“Density, design, location, expense — Brinshore is wrong on all four,” he said. “Let's purify the area, and simultaneously invite the community to identify and have an informed discussion about viable alternatives.”
More specifically, May is concerned the project will add to traffic and parking issues. He said It’s also unclear if the project will support the city’s affordable housing goals, as it’s expected to house about 144 workers, but also adds 137 jobs.
Park City Mayor Ryan Dickey said if the council does choose to scrap the project, they would have to launch a third process evaluating how the five acres can best serve the community.
Dickey was a councilmember during the second process. He said it involved many public meetings and open houses where locals said they wanted commercial businesses, affordable housing, public open space and arts on the site.
Dickey said if the council goes through the process again, it will likely yield similar results.
“Some future council would figure out that the community wants a mixed-use development with a combination of uses that would be a combination of maybe a little bit of housing, a little bit of commercial, a little bit of art spaces, plenty of open space, and you'd sort of be left with a similar set of requirements that you have today,” he said.
Place PC’s website shows its supporters are looking for similar things. They list open space, arts and culture, local dining and community gathering spots as options for the site.
Dickey also said there’s still time for the project to change without ending the negotiation agreement.
“We are in the middle of a project. We're not at the end,” he said. “I don't think anyone ever envisioned it would come back from the planning commission looking exactly like it looked when we sent it to planning commission.”
He said if the commission does approve concepts for the project, it will kick off the development agreement process, where the city and Brinshore establish rules and standards for the development.
According to the negotiation contract, the city may pay up to $40 million toward construction costs. If the project is finished, the total cost to the city is expected to be more than $64 million.
The city spent $7.2 million to underground power lines on the 5 acres and along Kearns Boulevard. This isn’t included in the cost as it was not solely allocated to Bonanza Park.
Park City Municipal is a financial supporter of KPCW.
