Skip to Content

Park City agrees to $5.75 million land deal with Osguthorpes

(Park Record) City Hall and the Osguthorpe family have negotiated an agreement to preserve a tract of farmland off the S.R. 248 entryway, a deal that ensures that the acreage will continue to be farmed instead of being developed someday.

The Park City Council on Thursday night approved the deal. The price tag is $5.75 million. City Hall will fund $4.75 million of the total and Summit Land Conservancy, a conservation group, has pledged to raise the other $1 million over the next two years.

The Osguthorpes will put what is known as a conservation easement on the 121 acres. Under a conservation easement, the family will continue to own the land, but development will no longer be allowed. The arrangement provides inheritance-tax benefits for the family.

It is the first time City Hall has spent money on a conservation easement, Mayor Dana Williams said. Other land groups rely on them in their work, however. City Hall's conservation work had traditionally relied on outright land purchases.

The Osguthorpes grow alfalfa and oats on the land. Steve Osguthorpe, who represents his family, said the farming will continue. Williams said the acreage is the last family farm in the immediate Park City area. The family has held the land since 1951, Osguthorpe said. The land is appraised at $9.4 million, according to a report submitted to Williams and the City Council before the Thursday vote.

Original Article