The Park City Council on Thursday will likely approve an agreement to acquire Treasure in a $64 million conservation deal, a decision that would be a landmark moment in the 30-plus years of controversy regarding Treasure and one that would move the dispute to voters.
Mayor Andy Beerman and the City Council are scheduled to address two related documents. One is a purchase and sale agreement, which will outline the acquisition itself. The other is a settlement agreement, which will detail what would happen should voters reject a ballot measure in November to raise most of the funds needed for the deal. The settlement agreement will cover topics like the $6 million City Hall is required to forward to the Treasure partnership as a down payment. It will also address a redesign of Treasure should the ballot measure fail. The $6 million payment would be used to reduce the project by 10 percent if voters reject the ballot measure.
Matt Dias, the assistant Park City manager and one of the staffers heavily involved in the Treasure discussions, said the settlement agreement also addresses the skiing infrastructure on the Treasure land through easements for ski runs and lifts. Park City Mountain Resort’s Town Lift and the Town Lift runs are on the land, and agreements have been in place for years between the resort and Treasure.
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