Treasure partnership wants nearly $93 million for buyout - The Park Record

Full story: Park Record 27
The Treasure partnership has priced a buyout of the longstanding development rights on the hillside acreage at just under $93 million, a dollar figure that has forced City Hall to abandon the idea of negotiating a conservation deal for the prized land overlooking Old Town. Full Story
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Nina Macheel

Portland, OR

#1 Dec 22, 2011
As the first chairman of the Historic District Commission in 1980, I recall the Sweeney family showing up at our meetings, toting rolls of drawings and thick, bound impact studies, and whatever else the Planning Commission and HDC requested in support of their proposal du jour. Their plans, like their self-informed concept of what their property was worth, have always been overreaching. I am sad, after 30 years, to see this obsessive, single-minded quest to foist their outsized vision on Old Town continue, when right action would have been to turn the property over to perpetual land trust. I know that's a lot of "blue sky" to kiss off. But I'm just sayin.....
Sundanceguy

American Fork, UT

#2 Dec 22, 2011
Turn the "property over to perpetual land trust?" Come on.... their property has value and they deserved to be compensated. Might not be worth $93 million, but to suggest they turn their property over to a land trust is a little over the top.
RECALL

Albuquerque, NM

#3 Dec 22, 2011
Nina Macheel wrote:
As the first chairman of the Historic District Commission in 1980, I recall the Sweeney family showing up at our meetings, toting rolls of drawings and thick, bound impact studies, and whatever else the Planning Commission and HDC requested in support of their proposal du jour. Their plans, like their self-informed concept of what their property was worth, have always been overreaching. I am sad, after 30 years, to see this obsessive, single-minded quest to foist their outsized vision on Old Town continue, when right action would have been to turn the property over to perpetual land trust. I know that's a lot of "blue sky" to kiss off. But I'm just sayin.....
"when right action would have been to turn the property over to perpetual land trust."

Your insane, but you probably could get elected mayor in PC.
PC Resident

Park City, UT

#4 Dec 23, 2011
Since the original comments to this article have been cut off for some inexplicable reason, see comments on the previous article below.
PC Resident

Park City, UT

#5 Dec 23, 2011
Sundanceguy wrote:
Turn the "property over to perpetual land trust?" Come on.... their property has value and they deserved to be compensated. Might not be worth $93 million, but to suggest they turn their property over to a land trust is a little over the top.
I have the answer. Let them build it overlooking Sundance. I am sure RR won't mind! About where his house sits would be a PHENOMENAL site.
Enough

Park City, UT

#6 Dec 23, 2011
Again here is the reality check. The Sweeney's did not ask to be bought out or even suggest that as a plan of action. The great mayor of PC and his minions did. So don't complain about the price. You asked they answered. Simple. Now either counter, pay the price or move aside and let the property owners move on with their project.
insane

Midvale, UT

#7 Dec 23, 2011
Are the Sweeney's insane, stupid or just arrogantly lost beyond reality?
End of story

South Jordan, UT

#8 Dec 23, 2011
Enough wrote:
Again here is the reality check. The Sweeney's did not ask to be bought out or even suggest that as a plan of action. The great mayor of PC and his minions did. So don't complain about the price. You asked they answered. Simple. Now either counter, pay the price or move aside and let the property owners move on with their project.
True, give the project the green light!!!!!!!
Reality bites

Midvale, UT

#9 Dec 23, 2011
Enough wrote:
Again here is the reality check. The Sweeney's did not ask to be bought out or even suggest that as a plan of action. The great mayor of PC and his minions did. So don't complain about the price. You asked they answered. Simple. Now either counter, pay the price or move aside and let the property owners move on with their project.
Oh, well, actually they seem to have been pushing for this pretty aggressively by their deeds, if not their words.

It is stupidly obvious their only interest is maxim profit (which is fine). A buy out would alleviate the need for them to actually do the work (not too mention invest their own money) to develop the land. Considering the lack of respect they seem to engender behind the scenes for their un professional and undisciplined way of doing business, a buyout probably has much greater chance of monetary success for them. Selling the dev rights to the city would be a far, far less complicated project for the Sweeney family to manage and oversee than actually developing the land as they claim to be interested in doing.

It really doesn't matter since the momentum is in line to ensure that in the next "Boom" cycle PC is going to become a version of Beverly Hills with snow. The rest of us are going to have to accept status as servants to wealth hoarders, or move on. The development activities on the horizon here will make Vail look like Boise and, Aspen seem affordable for the middle classes.
84098 Resident

United States

#10 Dec 23, 2011
Whatever they decide to build, I hope it obstructs the neighbor's view of the mountain :b
IMAGINE THAT

Heber City, UT

#11 Dec 23, 2011
I hope that the Park City Council and Mayor bite off the 93 million price tag and raise t6axes to pay for it. Theirs no end to the arrogance of Park City and their bleeding heart save the universe hippy Mayor!
Susan Truxes

Ogden, UT

#12 Dec 23, 2011
The Sweeneys donated over 90% of their Treasure land to PC for open space and trails decades ago when they all agreed to a master plan. They followed thru on their end of the bargain over the years easing Quitin Time and Creole to PCMR and doing Town Run and the Town Bridge. And still, after all that generosity and good faith, the City tried to deprive them of their right to develop their remaining land. Even though the Sweeneys cannot legally be denied this development, the City and the Planning Commission have put up a series of road blocks to their permit and probably continue to do so. And throughout it all the Sweeneys have played fair and still are willing to adjust their plans to try to please the City. They are still willing to take development rights at the base of PCMR in exchange for reducing their Treasure project. I don't understand how anyone can fault the Sweeneys. They have been nothing but considerate, generous and patient.
Innocent Bystander

Park City, UT

#13 Dec 23, 2011
Susan Truxes wrote:
The Sweeneys donated over 90% of their Treasure land to PC for open space and trails decades ago when they all agreed to a master plan. They followed thru on their end of the bargain over the years easing Quitin Time and Creole to PCMR and doing Town Run and the Town Bridge. And still, after all that generosity and good faith, the City tried to deprive them of their right to develop their remaining land. Even though the Sweeneys cannot legally be denied this development, the City and the Planning Commission have put up a series of road blocks to their permit and probably continue to do so. And throughout it all the Sweeneys have played fair and still are willing to adjust their plans to try to please the City. They are still willing to take development rights at the base of PCMR in exchange for reducing their Treasure project. I don't understand how anyone can fault the Sweeneys. They have been nothing but considerate, generous and patient.
Absolutely right on every count. They should sue the city for any further impediments to building the original plan 0f 450,000 square feet. They will be required, I am sure, to follow all city codes and design requirements just like any other developer. If, on the other hand, they try to build more than the previously agreed area and/or if they insist on evading city codes and building requirements, they should then be denied at every turn.
Local yocal

Roy, UT

#14 Dec 23, 2011
Even with their New York partner, the word on the street is that the Sweeneys don't have the financial backing to build this project. Be that as it may, I say let them build to the original plan (not the inflated square foot monster plan) and cement their "legacy" in Park City.
Mike Sweeney for Mayor

Las Vegas, NV

#15 Dec 23, 2011
They should hold out for $293,000,000 !!
sweeneys have rights

Midvale, UT

#16 Dec 24, 2011
why should we take away their rights...


I AGREE 100%--- THE ONLY OTHER REAL OPTION IS FOR ALL OF US TO SURRENDER OUR BUILDING RIGHTS IN OLD TOWN.

The mayor and his band of cowards should have stood up to the the loud mouth thinc-ers and told them the truth long ago and saved us taxpayers and the sweeneys millions. The sweeney's did everything by the book and then neighbors who for the most part moved in afterwards knowing this was on the books screamed NO !

What a waste of time and money --- LET THEM BUILD!
RECALL

Albuquerque, NM

#17 Dec 24, 2011
sweeneys have rights wrote:
why should we take away their rights...
I AGREE 100%--- THE ONLY OTHER REAL OPTION IS FOR ALL OF US TO SURRENDER OUR BUILDING RIGHTS IN OLD TOWN.
The mayor and his band of cowards should have stood up to the the loud mouth thinc-ers and told them the truth long ago and saved us taxpayers and the sweeneys millions. The sweeney's did everything by the book and then neighbors who for the most part moved in afterwards knowing this was on the books screamed NO !
What a waste of time and money --- LET THEM BUILD!
The mayor, council and city manager perpetuated this farce at the tax payers expense. The Sweeney's did go by the book and you are so correct, that the city leaders are cowards that hide behind council chamber doors, in order to hide their profound stupidity.
sweeneys have rights

Midvale, UT

#18 Dec 24, 2011
Nina Macheel wrote:
As the first chairman of the Historic District Commission in 1980, I recall the Sweeney family showing up at our meetings, toting rolls of drawings and thick, bound impact studies, and whatever else the Planning Commission and HDC requested in support of their proposal du jour. Their plans, like their self-informed concept of what their property was worth, have always been overreaching. I am sad, after 30 years, to see this obsessive, single-minded quest to foist their outsized vision on Old Town continue, when right action would have been to turn the property over to perpetual land trust. I know that's a lot of "blue sky" to kiss off. But I'm just sayin.....
...so why don't you and all the neighbors agree to give up all your rights to build in old town with all those who want to stop this LEGALLY approved development?

step up tear down your home and business and deed it over ... I'm just sayin'
another PC local

Park City, UT

#19 Dec 24, 2011
sweeneys have rights wrote:
<quoted text>
...so why don't you and all the neighbors agree to give up all your rights to build in old town with all those who want to stop this LEGALLY approved development?
step up tear down your home and business and deed it over ... I'm just sayin'
Ahhhh. No.... this is not a leaglly approved developement for the one million square feet that the sweeneys are requesting. They got approval for 400 something thousand. I say we call their bluff. Tell them to start showing us plans for the ORIGAINLLY agreed amount of square footage. Personally I'd like to see them get tied up in court for years.

Let's face it. If Traesure gets built, Park City will no longer be the town we moved too. It will destroy any semblance of what we have now. I'll be then moving to some less developed ski town, like say Vail.
Innocent Bystander

Park City, UT

#20 Dec 25, 2011
another PC local wrote:
<quoted text>
Ahhhh. No.... this is not a leaglly approved developement for the one million square feet that the sweeneys are requesting. They got approval for 400 something thousand. I say we call their bluff. Tell them to start showing us plans for the ORIGAINLLY agreed amount of square footage. Personally I'd like to see them get tied up in court for years.
Let's face it. If Traesure gets built, Park City will no longer be the town we moved too. It will destroy any semblance of what we have now. I'll be then moving to some less developed ski town, like say Vail.
Very good point. I have spent the last couple of hours looking at the Treasure Hill project on the PC web site but cannot find anything that shows the ORIGINAL APPROVED APPLICATION. It seems important to be able to see and understand this document. Where is it and why is it not shown?

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