City Hall may discuss $10 million PCMR partnership this week
Park City leaders on Thursday could discuss a partnership between City Hall and Park City Mountain Resort that was formed when PCMR was under different ownership.
It would be the first public discussion about a 2012 letter of intent between City Hall and the PCMR side since Vail Resorts acquired PCMR in September. Park City officials signed a letter of intent that called for City Hall to fund up to $10 million toward the cost of a transit hub, garage and related infrastructure at the resort. The letter of intent is not binding, meaning that either side is able to end the partnership.
Vail Resorts recently indicated it is reviewing agreements and planning efforts that were underway at PCMR at the time of the acquisition. The firm has not made public statements about the details of the letter of intent.
Park City officials extended the lifespan of a City Hall-controlled entity called the Lower Park Avenue Redevelopment Agency from 2015 until 2030 as a part of the partnership. The redevelopment agency brings in funds through tax increments, which are essentially most of the property taxes paid above the 1990 level on or in the vicinity of lower Park Avenue.
Mayor Jack Thomas and the Park City Council have 50 minutes set aside on Thursday to discuss issues related to the redevelopment agency. City Hall staffers want the elected officials to discuss the PCMR situation as well as broader redevelopment agency issues. It is not clear whether the mayor and City Council will hold a detailed discussion about the letter of intent itself.
Two high-ranking City Hall staffers, economic development manager Jonathan Weidenhamer and community and public affairs manager Phyllis Robinson, drafted a report in anticipation of the Thursday meeting. The report says a transit hub and garage at PCMR is a "key element in the redevelopment" of the lower Park Avenue corridor, noting that the project could also possibly provide parking for a residential project that might someday be built on City Hall-owned land on Woodside Avenue and Empire Avenue.
"Given the recent changes in ownership and uncertainty in the development plans for the base at Park City Mountain Resort, is Council ready to move ahead with a planning and development process for City land that would require the expenditure of city funds," the report asks.
The sides signed the letter of intent as the former owners of PCMR were planning to build an action sports camp to be called Woodward Park City. City Hall and PCMR saw the project as an opportunity to upgrade the transit and parking infrastructure there.
The elected officials and City Hall staffers on Thursday are also expected to discuss topics like upcoming efforts to gather opinions from the community, hiring a firm to plan and design an unspecified project on the City Hall-owned land and a timeline.
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