Treasure Hill sits just behind Town Lift Plaza

Since 1998, Park City voters have happily voted to tax themselves in the name of open-space preservation, land purchases that have helped maintain Park City’s mountain-town appeal and become some of our berg’s most coveted playgrounds. But those previous bonds, which ranged from $10 million to $25 million, will seem like a drop in the bucket compared to what the city is planning to ask voters for to buy land, known as Treasure Hill, overlooking Old Town. Here’s the nitty-gritty of the proposed deal.

104   

Acreage of the Creole Gulch and Mid-Station parcels, collectively known as Treasure Hill

$64M 

Deal reached by Park City Municipal in January 2018 to purchase 100 percent of the development rights to Treasure Hill from Sweeney Properties

$615,385 

Treasure Hill cost, per acre

$1.2M 

Sale price of a half-acre vacant lot adjacent to Treasure Hill off Woodside Ave in April 2018 (source: Summit Sotheby’s International Realty)

$50M–$55M 

Bond amount anticipated to be on the ballot in November to purchase Treasure Hill

$9M 

Reallocated from planned improvements of the Brew Pub parking lot ($7.5 million) and existing open-space funds to pay the balance of the Treasure Hill purchase

$220 

Average annual property tax increase full-time residents would see to pay for the Treasure Hill bond (based on average primary-resident home value of $768,000)

$399 

Average annual property tax increase for second-home owners (based on average secondary-resident home value of $923,254)

2033 

Year Treasure Hill bond would expire

8/30 

Deadline for City Council to approve putting the bond on the November ballot

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