Sweeney side has not accepted theory of $48 million Treasure buyout

The thinking could doom the chances of a conservation deal for all the land

by Jay Hamburger THE PARK RECORD

The Sweeney family said this week its side has not accepted the theory of a $48 million conservation deal that would altogether eliminate the prospects of development at the Treasure site.

That thinking could eventually doom the idea that a deal could be reached to set aside the full Treasure acreage from development. Treasure opponents want that sort of agreement, but the possibility seems more unlikely if the price tag was to climb from the $48 million that has been publicized in recent weeks.

Ed Sweeney, one of the family’s representatives in the Treasure negotiations with City Hall, said in an interview a separate idea is of more interest. Under that scenario, City Hall could pay the family $15 million to reduce the scope of the project through the buyout of some of the Sweeney family’s development rights and by shifting some of the rights to a spot uphill from the Park City Mountain Resort base area. Some development would remain at the Treasure site as well, situated on a hillside overlooking Old Town close to the route of the Town Lift.

The negotiations have been ongoing for months in closed-door sessions. The two options could be priced at $48 million and $15 million. Either one would be funded through a ballot measure.

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