Park City poised to assuage Treasure buyout concern | ParkRecord.com

Park City poised to assuage Treasure buyout concern

Park City leaders on Thursday are expected to remove Treasure from a City Hall program that allows certain landowners to shift development rights off their property, a step they see as important as they attempt to garner support for the acquisition of the disputed hillside acreage.

The Park City Council is scheduled to vote on a modification to the program, known as the transfer of development rights, or TDR. The elected officials will likely approve the modification since they are the ones who initiated the process.

The change would remove Treasure as a so-called sending zone. A landowner in a sending zone is allowed to shift development rights to a spot approved as a receiving zone. Treasure has been seen as the most important of the sending zones since the program was launched. The creation of the transfer program was seen as a means to break what had become a Treasure logjam as the Park City Planning Commission and the Treasure opposition expressed deep-rooted concerns about the development proposal.

Approximately 10 percent of the development rights attached to the Treasure land are included in the program. The City Council on Thursday could remove Treasure from the program altogether. The Park City Planning Commission earlier recommended Treasure be dropped from the program.

The status of Treasure as a sending zone has been notable in the months since City Hall reached a deal to acquire Treasure in a $64 million deal. The acquisition is dependent on Park City voters in November passing a ballot measure expected to be priced at between $50 million and $55 million.

There has been public worry and concern among officials that voters would be leery to approve a ballot measure if Treasure remained a sending zone. If that was the case, City Hall itself could transfer the Treasure development rights if it was to finalize the acquisition of the land. That sort of scenario could reduce the chances of the ballot measure passing, officials fear, since the Treasure development rights would not be extinguished outright.

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The City Council meeting on Thursday is scheduled to start at 6 p.m. at the Marsac Building. The officials are slated to hold a hearing prior to possibly casting a vote.