Deal, priced at $5.5 million, would partner City Hall with Boyer
November 10, 2009
City Hall has negotiated a $5.5 million deal with The Boyer Company to partner with the firm on a development at Quinn’s Junction, a highly unusual arrangement for the municipal government that puts taxpayer money into a proposal that has been under consideration for five years.
The development, situated at the southwest corner of Quinn’s Junction, is known as Park City Heights. The Boyer Company has envisioned putting regularly priced units in Park City Heights as well as a large bloc of work force housing. The land is outside the Park City limits, but the developers have asked City Hall to annex the parcel.
The $5.5 million would make City Hall an equal partner in the development. The land covers approximately 200 acres. The developer is interested in building 100 regularly priced units and the work force housing.
In a report released early in the week, Phyllis Robinson, who directs City Hall’s work force housing programs, said the municipal government would have an influential role in guiding the development if the deal is finalized.
The report, as an example, said City Hall could "have greater ability" to cut the number of regularly priced units and bring in more work force housing, perhaps units required of Empire Pass developer Talisker and hospital builder Intermountain Healthcare.
If a development is not agreed to within two years, The Boyer Company could exercise an option that calls for City Hall to purchase the remaining interest in the project. At that point, the remaining 50 percent would cost City Hall another $5.5 million plus 5 percent interest per year.
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Patrick Moffat, the project manager for The Boyer Company, said the partnership will result in an "affordable, dynamic and sustainable project."
"We think it creates maximum flexibility," he said, describing that his firm has entered into a few partnerships between the private and public sectors in the last decade.
Mayor Dana Williams and the Park City Council are scheduled to discuss the agreement on Thursday and a vote is possible that day. The elected officials plan to take public input on Thursday as well. The talks are scheduled to start at approximately 5:20 p.m.
The deal appears to be the crescendo of a series of high-stakes discussions about work force housing that have stretched for months and involved City Hall, Talisker and The Boyer Company. It also seems to be a City Hall endorsement that the land is appropriate for work force housing.
Regular Parkites have not closely followed the discussions about Park City Heights, which would be built well outside existing neighborhoods. Officials, though, have struggled with the project for some time as they tried to craft a development that would be appropriate along the S.R. 248 entryway.
Michael O’Hara, who was the chairman of the Planning Commission during some of the talks about Park City Heights, resigned from the panel in 2008 largely based on his unhappiness with the development proposal.
He had charged that there had been inside dealings regarding the development, and O’Hara once claimed that City Hall sources had told him the project would be approved regardless of whether it fits Park City’s General Plan, an overarching document that guides growth.
In this week’s report from Robinson, though, she indicates the talks about the deal with The Boyer Company date to the middle of 2009, more than a year after O’Hara stepped down.