Dakota Pacific Real Estate is proceeding with a controversial housing project in Summit County under a state law that granted it development rights.
Separately, the Salt Lake City-based developer filed an application to incorporate its 50 acres into a town, which could serve as a backstop if its current path to development fails.
One of the requirements for incorporation is financial feasibility.
Consultants from Zions Public Finance say that the town, which would be named “Park City Tech,” is feasible because it could raise enough tax revenue to provide municipal services.
The feasibility study assumes Dakota Pacific develops the 725-unit neighborhood it proposes west and north of the Skullcandy building.
The town would not include land slated for a public-private partnership with Summit County to expand the Kimball Junction Transit Center and create underground parking with a mixed-use plaza on top.
Since consultants deemed the town feasible, Utah’s lieutenant governor must now schedule a public hearing within 60 days. After that, Dakota Pacific could ask the state to formally deem Park City Tech a “preliminary municipality.”
A preliminary municipality is a special designation the Legislature created last year that allows small groups of landowners — or a developer — to incorporate as their own towns, with most all the rights and responsibilities that includes.
Dakota Pacific’s current plans may negate the need to go down that road, but the results of the consultant’s study will still trigger the public hearing.
Company leadership didn’t immediately respond to an email Friday inquiring about a possible incorporation.
The Summit County manager signed off on the entire development proposal in July.
Summit County is a financial supporter of KPCW. For a full list, click here.
