Treasure buyout pegged at nearly $50 million

A less expensive option is available allowing some development at the site

by Jay Hamburger OF THE RECORD STAFF

A conservation deal that would altogether eliminate the prospects of development on the Sweeney family’s prized Treasure land overlooking Old Town could cost City Hall nearly $50 million, a dollar figure that would top the combined value of the three conservation bonds Park City voters have passed since the late 1990s.

The Treasure figure — $48 million — was made public at an open house on Tuesday night. The number had been closely guarded by City Hall and the Sweeney family until people arrived at the event. The dollar figure that would be attached to a conservation deal encompassing all of the family’s longstanding development rights at the site had been the most anticipated detail yet to emerge from City Hall-Sweeney family negotiations.

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