Park City businesses are feeling the weight of economic pressures and the Park City Council is looking into how to support them.
But councilmembers agreed Thursday, Oct. 8, revamping the city’s economic development grant isn’t the answer.
Offered from 2006 to 2022, the grant was meant to support and grow existing businesses as well as attract new ones. Over the years, 16 businesses received between $7,000 and $30,000.
But councilmember Tana Toly didn’t want to just give businesses money. She said code changes would be a better way to support mom-and-pop type shops.
"I think you're going to get a bigger bang for your buck through code,” she said.
Councilmember Bill Ciraco said waiving impact fees could be another good place to start. Those are one-time charges on property developers for new or proposed construction projects. They help pay for public infrastructure needed to support new growth.
“We have some structural financial hurdles in our water utility,” he said. “We don't have a mechanism to defray that directly, but that goes into the pool of startup costs that a new business faces.”
Toly said redeveloping Main Street and Swede Alley — something that’s been in the works for years — would also go hand-in-hand with business creation. Toly said the city could reduce rent there to encourage small businesses to start in town.
Redevelopment in Old Town may also help existing businesses attract customers. That’s an issue Park City Chamber of Commerce, Historic Park City Alliance, Park City Area Lodging Association and Prospector Square leaders identified.
The groups said local businesses want expansion and staff retention support as well.
The council plans to work with staff in the future to identify support measures.
Park City Municipal is a financial supporter of KPCW.
