Deer Valley's Snow Park financing, 2024–2025: a tax increment request removed, three infrastructure districts created

Park City Council minutes from November 2024 through November 2025 record three actions on financing for the Deer Valley Snow Park redevelopment: a proposed community reinvestment area (CRA) item was removed from an agenda, three public infrastructure districts were created, and a project partnership agreement with a $15 million city match was approved. ^[1][2][3]

November 21, 2024: CRA item removed

At the start of the November 21, 2024 meeting, Mayor Nann Worel announced that Deer Valley Resort had asked that its item be removed from the agenda. The council took no action. ^[1]

The minutes attach 45 written comments on the Deer Valley CRA item. Most oppose the proposed CRA, and several cite the redirection of property tax revenue from schools, fire, water, county and city services. One comment supports the Snow Park development. ^[1]

March 26, 2025: public infrastructure districts

On March 26, 2025 the council approved Resolution 01-2025, creating Deer Valley Snow Park Public Infrastructure Districts 1 through 3, as amended. The ayes were Council Members Ciraco, Dickey, Parigian, Rubell and Toly; the minutes record no nays. ^[2]

Deer Valley's presenter said the districts would help construct a parking garage, roadways, sidewalks and utilities. Bond counsel said the financing would cover the multimodal transit center and horizontal improvements. ^[2]

The discussion did not set a numeric tax rate or levy cap. Deer Valley's attorney said the rate would be set when the bonds went to market. When Council Member Jeremy Rubell asked about other financing tools, Deer Valley's attorney said the applicant "would not come back looking for a CRA." ^[2]

November 18, 2025: partnership agreement

On November 18, 2025 the council voted 5-0 for Resolution 26-2025, authorizing the mayor to sign the Project Partnership Agreement contemplated in the December 14, 2023 letter of intent with Deer Valley. The city attorney stated that Deer Valley commits $15 million to an offsite regional transportation facility and that the city would match those funds. ^[3]

Deer Valley's presenter described capacity for 1,361 day-skier stalls and 611 stalls for other uses. Its attorney said a CRA financing option discussed earlier was no longer being considered. ^[3]