Details emerge about New Yorker with 50 percent stake in Treasure

Sweeneys and her firm must both agree to any conservation deal with City Hall

by Jay Hamburger THE PARK RECORD

Two sides in the long-running talks about the Treasure development are well known to Parkites: City Hall and the Sweeneys, a family with deep ties to the community.

There is a third side, though, that only people who have followed the discussions very closely would even be aware exists. The Sweeney family has occasionally mentioned that it has a partner in the development, but it has been the Sweeneys, not the other party, who have been leading the efforts in front of the public since 2004.

As the talks about the prospects of a taxpayer-funded conservation agreement for the Treasure land near a red-letter date, details are emerging about the Sweeney family’s partner in the project.

The partner is a firm known as Park City II, LLC, with an address in New York City’s trendy Tribeca neighborhood. The manager of the firm is a woman named Elizabeth Rad, according to records filed with the Utah Division of Corporations and Commercial Code.

For the rest of this article please click on the link below:

http://www.parkrecord.com/ci_19482942

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Treasure granted more time for more talks

City Hall and the Sweeney family agree to extend discussions until mid-March

by Jay Hamburger THE PARK RECORD

City Hall and the Sweeney family on Thursday night agreed to extend the long-running discussions about a Treasure conservation deal until at least mid-March, giving the sides another three-plus months to attempt to craft an agreement.

The Park City Council unanimously approved an extension until March 19. There is the possibility of another extension at that point. Negotiating teams from City Hall and the family have thus far been unable to finalize a deal that could be brought to voters.

The two sides by March 19 want to agree to pursue one of the two conservation deals that are under consideration, effectively making that option the preferred alternative.

One of the two calls for City Hall to preserve the Treasure land in its entirety by purchasing the family’s development rights at the site outright. The other would reduce the scope of the Treasure project by 50 percent, perhaps through a combination of shifting part of the development rights elsewhere and City Hall buying some of the other rights in a conservation deal. The project would be redesigned under that option.

For the rest of this article please click on the link below:

http://www.parkrecord.com/ci_19458305

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Their eyes only: City Hall’s appraisal of Treasure will remain classified

Document, from mid-2010, is seen as a ‘starting point only’ in talks about price

by Jay Hamburger THE PARK RECORD

Park City officials do not intend to make public a mid-2010 appraisal of the Sweeney family’s Treasure parcel conducted on behalf of City Hall, a document of great importance in the long-running talks about a conservation deal.

The document would provide at least one baseline for rank-and-file Parkites to consider as city leaders and the Sweeney family prepare for what is likely a final round of discussions centered on whether a deal for the land can be reached.

The appraisal is dated July 15, 2010 and was conducted by Chris Donaldson, a certified general appraiser in the local office of Cushman & Wakefield Inc. He was a 23-year veteran of the appraisal industry at the time it was conducted. Both Donaldson and City Hall officials declined to discuss the appraisal’s figures at that time.

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http://www.parkrecord.com/ci_19434564

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How much will it cost to ensure Park City open space?

By Christopher Smart

To stop a 1 million square-foot development, how much are Park City taxpayers willing to pay the Sweeney brothers Ed, Mike and Pat, for 124 acres of land abutting the historic district?

The answer to that question is eagerly awaited by Old Town residents who say the Treasure Hill proposal is too big for the neighborhood, and would create traffic and public safety hazards, among other problems. The price tag is expected to be announced at a Dec. 15 City Council meeting.

A recent appraisal put the value of the land at $48 million. Some observers say that could be well shy of what the Sweeney brothers believe the project is worth.

Ed Sweeney said Friday he could not comment on whether $48 million is enough. “We’ll cross that bridge when we come to it,” he said.

He was referring to a vote the City Council will make this week to extend a “letter of intent” from the municipality to the Sweeneys. The measure that officially continues negotiations is expected to pass easily and will ask the Sweeneys to provide a selling price.

See link below for the rest of the article:

http://www.sltrib.com/sltrib/news/52990099-78/park-million-council-sweeneys.html.csp?page=1

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Treasure: the stuff of a big bluff?

Comments submitted to City Hall wonder about Sweeneys’ intentions
by Jay Hamburger The Park Record

 

City Hall has been in few development disputes with the stakes as high as they are in the long running discussions about the Sweeney family’s idea to build Treasure.

But what if the Sweeney side is bluffing about the prospects of Treasure?

That idea, something that has not been widely discussed in public over the years of the Treasure talks, was broached by at least two people in the days after a midsummer open house organized by the Sweeney family and City Hall. Park City officials last week released a set of 54 comments that were submitted anonymously just after the open house. The two people used the word “bluff” in their written comments.

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http://www.parkrecord.com/ci_19393114

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Treasure Hill LOI Decision Postponed

By Linda Gorton on November 18, 2011

Park City Council members Thursday were scheduled to approve a Letter of Intent with the Sweeney family regarding their proposed Treasure Hill project on the hillside above Old Town but they put it off to their next meeting so that all of the interested parties could be involved in the discussion. KPCW’s Linda Gorton has more…

http://kpcw.org/2011/11/treasure-hill-loi-decision-postponed/

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Treasure price tag, the great unknown, will be revealed within weeks

City Hall expects to release the dollar figure, set by Sweeneys, in mid-December

by Jay Hamburger THE PARK RECORD

City Hall in the middle of December expects to make public the price tag set by the Sweeney family for a complete buyout of the development rights attached to the Treasure land, a figure that has remained the great unknown during the long-running negotiations about Treasure between Park City leaders and the Sweeneys.

The number will likely be released on or close to Dec. 16, which is a Friday and the day after the Park City Council is scheduled to hold its final meeting of the year.

For the rest of this article please visit:

http://www.parkrecord.com/ci_19367421

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