By Christopher Smart of The Salt Lake Tribune
The Sweeney family’s asking price for a buyout of their Treasure Hill land abutting Park City’s historic district may be too high even for a community that has spent tens of millions of dollars to preserve open space.
After a closed meeting Wednesday between Park City officials and the Sweeneys, City Councilwoman Liza Simpson said the Treasure Hill acreage could be purchased for $92,925,000. Simpson said that means a deal isn’t likely.
The Sweeneys and their partners, a limited liability corporation called Park City II, have proposed building a 1 million-square-foot project near the Creole ski run and Lowell Avenue that would include a hotel, conference center, restaurant and retail space.
But many Park City residents have criticized the plan as too big. The city had considered purchasing the land as open space.
“I think it is beyond our community’s ability and willingness to bond for the land at that price,” Simpson said. She doubts the council would put a bond that large on the ballot.
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