Canyons Village eyed as possible site for Kimball Art Center
Plans for redevelopment includes Kimball Art Center parking
January 3, 2017
The preliminary plans for the redevelopment of the Canyons Village at Park City Mountain Resort show that the site is being considered as a permanent location for the Kimball Art Center.
The Kimball Art Center has been temporarily housed in a space along Kearns Boulevard while the organization's leaders look for a location for a permanent facility in Park City or the Snyderville Basin. The Kimball Art Center sold its longtime Old Town property after it was unable to win City Hall approval for an expansion.
"The Kimball Art Center is considering several new locations for our new home and this is one of the options. We hope to select our permanent site for the new Kimball by spring," Robin Marrouche, the executive director of the Kimball Art Center, said in an email to The Park Record.
On the Wednesday, Jan. 4 Summit County Council agenda, TCFC, the company that owns the land on which Vail operates its ski resort, is scheduled to discuss creating an assessment area to help finance the redevelopment of 2.3 million square feet in the upper and lower Canyons Village. The Snyderville Basin Planning Commission will be reviewing the master plan for the redevelopment over the next few months.
According to a legal memorandum from the Summit County Attorney's Office, TCFC's redevelopment proposal necessitates a "significant investment in resort infrastructure which the CVMA (Canyons Village Management Association) does not have the capacity to fund."
"All resort infrastructure so funded would be owned by the County," the report stated. "However, the county could enter into operations and maintenance agreements with TCFC or the CVMA to operate and upkeep the resort infrastructure."
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According to the memorandum, the projects that are being considered for the Canyons Village that could benefit from the assessment area bond include a $2.1 million parking structure for the Kimball Art Center, $11.8 million parking structure for the lower village and $1.2 million for the re-alignment and construction of High Mountain Road.
TCFC wants the county to create the assessment area through a $21 million bond that will be paid back over 20 years to fund $15 million of infrastructure projects and pay $6 million in debt costs. All the property owners in the assessment area that would benefit from the projects would be required to pay the annual assessment as part of their property taxes, according to Dave Thomas, chief deputy attorney.
"What TCFC is proposing is that all of its properties that it currently owns within the Canyons be within the assessment area," Thomas said. "But the risks of the assessment area for the county in issuing the bond is that whatever happens affects the county's bond rating and, obviously, if someone doesn't pay it raises the question of who is then responsible for paying the assessment?"
Thomas said the County Council will have to consider the risks and any "worst-case scenarios" that would put an undue burden on the county if councilors consider the financing mechanism.
TCFC also discussed creating a Community Development Area (CDA) to finance public infrastructure projects, which could include "a transit center in the lower village, off-site park-and-ride lots, moderate income housing and underground parking options, according to the report. It stated that "a financing strategy which utilizes both an assessment area and CDA could satisfy the requirements of TCFC while simultaneously fulfilling the transit/affordable housing goals of the county."
The item is scheduled as a work session item during the County Council meeting at 4:20 p.m. at the County Courthouse in Coalville. To view the legal memorandum or TCFC's presentation go to http://summitcounty.org/AgendaCenter/ViewFile/Agenda/01042017-1021?html=true.