PROFESSIONAL_SERVICESAMENDED

Park City Council Meeting Minutes March 19 2026

Bonanza 5-Acre Negotiation Agreement Amended with Brinshore

City contribution up to $40 million; shared third-party pre-development costs up to $1 million; termination fee minimum $75,000City of ParkBRINSHORE DEVELOPMENTMarch 19, 2026

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Description

Park City Council approved a second amendment to its Exclusive Negotiation Agreement with Brinshore Development for the Bonanza 5‑Acre redevelopment, extending the term to December 31, 2026 and setting up to $40 million in City contribution, soil remediation funding, and shared pre-development costs.

Contract Details

Contract Amount

City contribution up to $40 million; shared third-party pre-development costs up to $1 million; termination fee minimum $75,000

Vendor

BRINSHORE DEVELOPMENT

Agency

City of Park, UT

Contract Type

PROFESSIONAL_SERVICES

Document Date

March 19, 2026

Contract Term

Through December 31, 2026 (extended agreement expiration)

Renewal Date

2026-12-31

Renewal Info

Second amendment extends ENA expiration to 2026-12-31, adds up to $40M City contribution, cost-sharing of up to $1M in third-party pre-development, and sets a minimum $75,000 termination fee plus remaining shared costs if terminated without cause. Future project agreements may follow upon successful negotiations.