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.

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

http://www.parkrecord.com/ci_19434564

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

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.

For the rest of this article please visit:

http://www.parkrecord.com/ci_19393114

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/

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

Park City calls timeout on plan to buy-down massive project

By christopher smart from The Salt Lake Tribune

The Park City Council has put on hold a plan to spend millions in tax dollars to reduce density on the proposed 1.1 million-square-foot Treasure Hill project abutting the town’s historic district.

Council members said more details were needed about the latest plan to downsize the development.

For the rest of this article please visit:

http://www.sltrib.com/sltrib/news/52433700-78/million-park-plan-council.html.csp

KPCW Treasure Hill Update – Park City Officials Say No To Bond For Now

Park City officials have decided against asking voters this November if they want to buy all or part of the Treasure Hill density. In addition city officials will consider extending a letter of intent with the Treasure developers allowing them more time to negotiate specifics of the project. KPCW’s Linda Gorton has more:

http://kpcw.org/2011/08/park-city-officials-say-no-to-bond-for-now/