Building new lifts could be costly when it comes to mining company that is cash-strapped. It kept its plans on hold – and under wraps.

Building new lifts could be costly when it comes to mining company that is cash-strapped. It kept its plans on hold – and under wraps.

A business partner of Wallace’s paid a visit to the county recorder’s office in Coalville in the meantime.

“He unearthed that probably 80 to 85 % of the many (Park City Old Town) lots – home lots, and company properties, for the matter – had been on the market for fees. So he said, ‘You understand, i do believe we are able to purchase a number of those. If that which we do allows Park City rebound, that’s likely to be some valuable property.’

Wallace stated he provided their partner the green light to spend $85,000 to $90,000 to purchase “several hundred” lots.

“then we told my partner, we stated, ‘You know, we’re employed by United Park Mines business, and I also think we owe it for them to allow them find out about this and find out when they are interested those, or several of those, lots.’ Well, they did. These were grateful. And additionally they bought about 90 % of that which we purchased, for similar cost for). that people had purchased ( them”

In 1962, the mining business sent applications for a brand new federal loan system built to strengthen the economies of depressed areas. Utah newspaper writers utilized A august 1962 luncheon with president kennedy to lobby regarding the company’s behalf. Later that thirty days, the federal government authorized that loan of $1,232,000.

Treasure Mountains opens

On Saturday, Dec. 21, 1963, Park City Mayor Will Sullivan slice the ribbon to mark the state opening regarding the resort that is new Treasure Mountains. It showcased the Summit home restaurant, the gondola, the gondola base building, the Prospector chairlift, a J-bar and a rope tow. Continue lendo “Building new lifts could be costly when it comes to mining company that is cash-strapped. It kept its plans on hold – and under wraps.”