YOUR AD HERE »

Park City plans to finalize Bonanza Flats deal on Thursday

Park City said on Monday it intends to finalize the acquisition of Bonanza Flats on Thursday, indicating the gap in funding has fallen to approximately $500,000 on the $38 million deal.

Voters in Park City approved a $25 million ballot measure that covers most of the overall price and a broad fundraising effort is ongoing that involves contributions from government entities, corporate donors and individuals.

A statement released by Park City on Monday indicated City Hall’s strong bond rating provided a windfall of $2.7 million above the $25 million in bonds approved by voters. Of that sum, City Hall said, $700,000 will be set aside for closing costs and work at trailheads.

“We have always been committed to saving this tremendous landscape,” Park City Mayor Jack Thomas said in prepared comments included in the statement. “We want the community to rest assured that we will step up to the plate and purchase the land, but we are reliant on all of the commitments made to date to truly get this across the finish line.”

The statement acknowledged the importance of pledged monies during the fundraising efforts and a $1.5 million contribution under consideration as part of the Salt Lake County budget talks.


Support Local Journalism

Support Local Journalism

Readers around Park City and Summit County make the Park Record's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.