Business

February 28, 2014

Park City delays vote on proposal to take over subdivision land offered by Jay Russell

The Park City Council decided this week to wait until its next meeting to vote on a proposal by developer Jay Russell, who wants to donate a struggling development to the city.

The Park City Council decided this week to wait until its next meeting to vote on a proposal by developer Jay Russell, who wants to donate a struggling development to the city.

According to City Manager Jack Whitson, Russell has asked the city to take 70 to 80 acres of land at 69th Street and Hillside appraised for about $1.7 million.

A large drainage pond was built on the land, and there are $114,000 a year in special assessments. The developers are not significantly late on the payments, Whitson said.

Park City recently took over two failed subdivsions and is in the process of marketing the properties using cash incentives to try to encourage home building on the lots involved.

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