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2012-10-11 12:37:37
Draper City Purchase Plans of Suncrest


If you are a Resident of Draper City, or surrounding areas such as Holladay, Sandy, Salt Lake, or South Jordan, you are sure to have an interest in this hot topic.



The Draper city council held a public hearing on a city proposal to buy the undeveloped portions of Suncrest development from Zions Bank for 5.6 million. 

The potential purchase came to discussion after conflicts with would-be Arizona buyer who backed out of the deal in June after conflicts with the city over open space and public access to trailheads according to city documents.

The city's plan includes buying 2,200 acres next to the 1,800 acres of open space the city already owns but hasn't developed, including part of Corner Canyon.  While the city intends to preserve open space in the area, it added it may partner with developers to sell off portions of the land for development.

Some residents were taken by suprise, with concern over Suncrest's master development agreement and infastructure yet to be built for water up in the area. Also a concern of 1,300 homeowners in Suncrest is the question of if there will be costs associated with Travelers Ridge Special Service District that were sopose to be split with homes that will now not be built.

At the same time many were postive about the idea in regard to the city aquiring so much open space.

Draper City plans to pay for the $2,500 per acre property by refinancing existing bonds - one from 2002 for construction of city hall, and the 2004 bond for Bangerter Parkway - at a lower interest rate, and issuing a new bond, Maridene Hancock, city spokeswoman, has said. (Oct 4 SLTribune)

The land purchase would create a 4,000 acre open space property along the Wasatch Front, which the city states is 'unprecedented.' The area's Master Plan would include an expansion of city parks and trails and the already created plan for Corner Canyon Regional Park.

The finalization date for this purchase is Oct 31.

 

 

 

LINDA SECRIST - LINDA SECRIST & ASSOCIATES - EVERYTHING THEY TOUCH TURNS TO SOLD!

 


 


 

 
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