This article is published through the Utah News Collaborative, a partnership of news organizations in Utah that aim to inform readers across the state.
The Summit County Council voted to purchase Skullcandy’s headquarters in Kimball Junction Thursday.
Councilmembers voted unanimously to buy the audio equipment manufacturer’s headquarters and 7.38-acre parcel for $17.5 million.
The building could become part of a wider public-private partnership on the surrounding 50 acres. Summit County councilmembers have been negotiating for four years with Dakota Pacific Real Estate, which has applied to build housing on the land, where only tech offices are allowed.
Skullcandy and the Park City Visitors Center were the only buildings constructed under the current development agreement.
Under the purchase agreement, there are 30 days of due diligence and then 30 days to close on the deal, which will be financed with bonds paid back with future revenue from existing sales taxes.
The council has said it does not intend to raise taxes or levy new ones to purchase the land.
To read the full story, visit KPCW.org.
