PC Council To Consider $36M Price Tag for Bonanza Flat Open Space

Jan 11, 2017

Park City officials won't talk until tomorrow, but they have noticed an agenda item for Thursday's city council meeting that the city council will consider a purchase option for Bonanza Flat.  

The proposed purchase price is $38 million. City residents in November agreed to bond for $25 million of that. In a media advisory from Community Engagement Manager Linda Jager, representatives from Park City Council, Summit County Council, and several leading land conservation non-profits will provide a media briefing at 2 pm at the entrance to Park City Hall Thursday.

While the city council agenda has been updated with the item under new business, there was no staff report in the council packet. KPCW's request to speak to a city official for comment was declined.

The land, located at the top of Guardsman’s Pass was once owned by Talisker. It was foreclosed in 2015 and acquired at a sheriff’s sale by  Wells Fargo and other lenders. There was interest in the property by the Discovery Land Company, which specializes in private, member-only gated Golf residential communities that have been described as resorts for the 1 % of the 1%.

The city-sponsored bond was overwhelmingly passed with 70% support from Park City voters.