DRAPER — The city has approved a contract to purchase undeveloped portions of the SunCrest project.
The mayor and City Council on Monday approved the pact with Zions Bank to acquire the nearly 2,200 acres, which are adjacent to about 1,800 acres of city-owned open space. Draper has until Oct. 31 to finalize the purchase.
"The pending purchase of property in SunCrest will prove to be a very important addition to our community's open space," said Mayor Darrell H. Smith. "Having an opportunity to add more trails, parks and recreational opportunities has been, and still is, a goal of the City Council."
The total purchase cost $5.6 million, approximately $2,500 per acre. The city intends to refinance two existing bonds at a lower interest rate and apply the savings to the purchase of the SunCrest property. The remaining funds will come from the issuance of a new bond.
The city will create a master plan for the property to complement existing residents and property owners, as well as the master plan created for Corner Canyon Regional Park, with a focus on the expansion of city parks and trail opportunities.
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