Deer Valley Resort and the Park City Council reached an agreement on an offsite capture parking lot Nov. 18.
It was the final council vote the resort needed before it could turn the Snow Park parking lots into a new ski beach and base area.
The agreement states the city and ski area each contribute up to $15 million for no more than two projects. The first would be a transportation facility — most likely along state Route 248 — but the money could also finance new housing within city limits.
It’s up to Park City to propose the projects, according to a city staff report. Councilmember Bill Ciraco said the council is determining the best location.
“We're looking at city-owned parcels, city lease holds that we have — Richardson Flat [park-and-ride] is a city lease hold,” he said on KPCW’s “Local News Hour” Nov. 19.
With the partnership finalized, Deer Valley can now pursue permits for the first phase of Snow Park redevelopment and file final paperwork with the county recorder’s office.
Deer Valley President and COO Todd Bennett said the resort may need to wrap up some East Village work first.
“We've got a small project going on on the other side of the mountain right now, which has been taking up a lot of resources, but the team is very committed to continue to advance the work as it relates to Snow Park,” Bennett told the council.
Deer Valley planner Hannah Tyler said Snow Park has 1,700 parking spots right now. Plans show 2,000 spots at the new offsite facility. About 1,400 would be for skiers and 600 for employees.
The new Snow Park base will be paid for with public infrastructure districts, or PIDs.
PIDs issue bonds to get a lump sum of money up front that they pay back with an additional property tax on the land inside their boundaries.
Deer Valley’s PIDs encompass the parking lots where the new base and ski beach will be.
Park City Municipal and Deer Valley Resort are financial supporters of KPCW.
