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SkiBum.Ugh this again. I’m sure the info is out there and probably in some college text book by now. I will say no one for sure knows or will say who officially dropped the ball on that. Many can speculate - the blame should really fall on many.
I’ll try to keep it short.
Land lease was a sweetheart deal for ever. Lease was about 80% of skiable terrain at resort. Base area 20% was owned land, owned by many parties but mostly Cumming family.
Lease did not get renewed.
At same time/similar time Vail purchased land and operating rights of Canyons - which included the land lease/ownership that Park City just forgot.
Park City now owning base - 80% rest in limbo.
Lawsuit spanning about 2.5 years.
Settlement of around $185m giving Vail ownership/lease of base area.
Vail connects the two areas and calls it biggest ski area in country.
Town and surrounding areas and people still pissed.
Moral of story - don’t forget to pay your lease/rent.