City Hall plans to brief Vail Resorts about PCMR partnership
City Hall staffers will brief Vail Resorts about partnership between the municipal government and Park City Mountain Resort that was formed prior to the Colorado firm’s acquisition of the resort, the mayor and Park City Council were told Thursday.
City Manager Diane Foster provided broad information during a City Council meeting, saying staffers plan to provide an overview of the partnership. It was formed in 2012 when both sides signed a nonbinding letter of intent. City Hall agreed to put $10 million toward the cost of a transit hub, garage and related infrastructure at the resort.
The elected officials at the time extended the lifespan of a City Hall-controlled entity called Lower Park Avenue Redevelopment Agency from 2015 until 2030. The agency brings in money through tax increments, essentially most of the property taxes paid above the 1990 level on or in the vicinity of lower Park Avenue.
Vail Resorts has said it is studying agreements and planning efforts that were underway at PCMR at the time of the acquisition.
The City Council on Thursday was not scheduled to make important decisions about the partnership. It was mentioned during the discussion, however. The elected officials addressed the wider ideals along lower Park Avenue while also touching on topics directly related to PCMR as well.
City Councilman Tim Henney appeared especially interested in learning more about the Vail Resorts’ development ideas as City Hall moves forward with its own efforts along lower Park Avenue. Henney said the process will be unclear without Vail Resorts’ ideas for the PCMR base area. Henney noted that PCMR’s previous owner, Powdr Corp., planned to build an action sports camp at the resort. The $10 million partnership was formed in anticipation of Powdr Corp.’s plans.
"There were different drivers then," Henney said.
Henney questioned whether the transit hub and garage envisioned at PCMR should be shifted somewhere else in the vicinity, noting the situation is unclear without plans from Vail Resorts for PCMR.
Cindy Matsumoto, another member of the City Council, noted there have not been discussions with Vail Resorts. She spoke about an idea for a connection between the lower Park Avenue corridor and PCMR. Matsumoto said it seemed "premature" to press ahead with a connection or eliminate one from the planning efforts prior to talks with Vail Resorts. There was interest among the elected officials, meanwhile, to move forward with ideas for a City Hall work force housing project on land on the 1400 block of Park Avenue.
Staffers and the elected officials also spoke about outreach efforts that will be undertaken, probably by the end of February.
Vail Resorts was not represented at the meeting. Foster said Blaise Carrig, the president of the mountain division of Vail Resorts, contacted her Wednesday to inquire if he should attend.
City Hall staffers and the elected officials did not discuss details about the briefing that will be planned with Vail Resorts. A briefing could resemble a ‘Redevelopment Agency 101’ session, the elected officials were told. It is likely the briefing will be private.
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