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Judge dismisses parts of PCMR’s lawsuit against Talisker

Court ruling calls situation ‘unfortunate,’ hopes for a resolution

Jay Hamburger THE PARK RECORDparkrecord.com

Posted: 11/23/2012 04:20:44 PM MST

Third District Court Judge Ryan Harris, calling the lease dispute between Park City Mountain Resort and a firm under the Talisker Corporation umbrella “unfortunate,” on Tuesday dismissed key parts of PCMR’s lawsuit against its landlord.

Talisker Land Holdings, LLC and United Park City Mines won dismissals of six points of PCMR’s case, including one focused on PCMR’s assertion that Talisker Land Holdings, LLC had a duty to remind the resort of the requirements of a lease renewal as the expiration date approached. The 47-page ruling also dismissed PCMR’s antitrust claims against Talisker Land Holdings, LLC.

” . . . The Park City Parties had an obligation to strictly comply with the Leases’ renewal provisions, and they failed to do so,” Harris wrote.

Harris, meanwhile, allowed the PCMR side to press forward with two points — one encompassing a contention that Talisker Land Holdings, LLC waived its right to claim or is stopped from claiming the leases expired and the other for damages if it is found that Talisker Land Holdings, LLC failed to disclose early on that it saw the leases as having expired.

The lawsuit focuses on PCMR’s two leases of Talisker Land Holdings, LLC ground, approximately 3,700 acres, to operate the resort. The Talisker Land Holdings, LLC side claims PCMR did not provide written notice of its intent to extend the leases on time and they expired in April, 2011. PCMR says it communicated an interest in extending the lease, but it has acknowledged that a confirmation letter was not sent until after the deadline.

The judge’s ruling includes a strong statement on the point, saying that the leases are written in “plain language.”

“The Park City Parties maintain that this language allows them to make a non-written ‘election,’ as long as they provide to the Talisker Parties, at some later point, written confirmation of this election. This is simply not a tenable interpretation of the plain language. Indeed, this interpretation borders on the nonsensical, and contains no conceivable logical limit,” he wrote.

The lawsuit has been closely watched in the Park City area and its outcome could have wide-ranging impacts on the local ski industry. The PCMR side has claimed the Talisker Corporation side wants to eliminate it as a competitor to Talisker-owned Canyons.

“The current situation is unfortunate. The Court is aware of, and mindful of, the importance of PCMR and The Canyons to Summit County’s economic, cultural, and recreational well-being,” Harris wrote in his ruling. “The Court is, like many citizens of Summit County and of the State of Utah, hopeful that these parties can resolve their differences and keep both resorts operating in an economically beneficial manner . . .”

Attorneys for Talisker Land Holdings, LLC and PCMR, speaking in interviews after the ruing was released, said their sides are willing to engage in settlement negotiations. They did not provide details. If a settlement is not reached, the sides intend to enter the discovery phase of the lawsuit, when the attorneys conduct depositions and obtain documents from the other side.

Daniel Beller, the lead attorney for Talisker Land Holdings, LLC, said in an interview his side is confident in the facts of the case. Alan Sullivan, the attorney who represents PCMR, said if his side prevails on the remaining points Talisker Land Holdings, LLC could be prevented from claiming the leases have expired.

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Park City is about to get dirty…dirty modern that is with The Enclave at Sun Canyon project!

One of the very few new developments currently under construction in beautiful Park City, The Enclave at Sun Canyon features 35 contemporary town homes. The inspiration for Enclave comes from Steven P. Urry, founder of Synergy Development and long time area resident. Mr. Urry acquired this mountainside out of appreciation for its poetic beauty and with a vision of what it would become. It was this strong tie to the area and community that caused him to hold on to the property through the economic downturn. With a tradition of developing high quality properties,  Steve Urry is introducing a unique and special product to the Park City market.

The townhomes at the Enclave at Sun Canyon  have been architecturally designed to seamlessly blend, and intrinsically synergize, with their surroundings. The setting is an unspoiled landscape of immense beauty, secluded in aspens and pines, at the apex of Sun Peak, near the Canyons Ski Resort. Constructed of stacked stone, beamed ceilings, floor to ceiling glass, wood flooring, scenic decks and a combination of grass and metal roofs, these residences bring new meaning to indoor/outdoor living. Featuring 4 bedrooms, 4 bathrooms and ranging in size from 2700 SF to 3200 SF the pricing starts at $1,350,000. Completion of first two units is slated for May 2013.

For more info visit The Enclave Web site contact Negin Shams-Urry at Negin@liveparkcity.com

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By Dee Macaluso

One of the surest signs of spring that we locals cherish is the opening of the Park City Farmer’s Market.  Starting on May 30^th it’s held every Wednesday from noon to 6:00 p.m. at the Canyons parking lot right off highway 224. You’ll know it by all the white tents. If you want really healthy, fresh produce, meats, baked goods, arts, crafts and other treats, this is the place (where have I heard that phrase before…?)  It’s good on so many levels.  You’re supporting local growers and producers, you’re not contributing to the polluting energy needed to transport goods from far far away, you’re getting the best quality of natural food, and, of course, it’s fun.  The market gets better and better as the summer goes on.  Don’t be discouraged if there mostly early crops at the beginning.  Show up every week and there will always be the lovely combination of the good old standards and some new surprises.  Call 435-649-5400 for more scoop.

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Amazing Ski-in ski-out condominium in prestigious Empire Pass in the sought after Flagstaff building!  Top of the line finishes include a gourmet chef’s kitchen with Subzero refrigerator,Wolf gas range and oven, hand crafted copper sink, warm granite counters, a breakfast bar with seating for four and a a spacious breakfast nook with built in leather seating. The master suite has a luxurious bath with large Jacuzzi tub, heated floors and a fireplace.  The patio has exclusive direct access to the oversized outdoor hot tub where you can relax after a long day of skiing. Deer Valley ski access could not be easier with the Silver Strike Express Chairlift just outside your patio!

Ofered at $2,150,000

Call or email me to schedule to see this beauty.

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  Arriba arriba!  Time to celebrate Cinco de Mayo at The Yard, on May 5^th, of course.  There will be food, drinks, live music, dancing and a silent auction from 5:00 to 9:00 p.m.  It’s a good time for a good cause.  Fifteen cans of food or $15.00 gets you in and all proceeds allow local charities to help Park City families in need.  Bring the whole family and fiesta down!  Call 435-513-0207 for more info.

            Here’s a chance to put away the Birkenstocks and pull out your pretty spring hat.  A Mother’s Day luncheon with food (duh), music and a speaker will be taking place at St. Mary’s Church from noon to 1:00 p.m.  on Thursday, May 10^th.  There’s no cost to attend, but donations will be gratefully accepted for the support of Peace House, which provides support for anyone dealing with domestic violence.             Please call 435-658-4739 or email events@peacehouse.org to RSVP.

             Don’t forget to grab a popcorn in the lobby and head in to the Park City Film Series at the city library every weekend in May.  They always have a great selection of films: “We Need to Talk About Kevin” runs May 4^th to 6^th; a special free viewing of “Escape Fire: The Fight to Rescue American Healthcare” happens on May 10^th;  “Salmon Fishing in the Yemen” goes May 11^th to 13^th;  “Jeff Who Lives At Home” plays May 18^th to the 20^th; and Chico and Rita, May 25^th  to 27^th.   Yes, I know this blog is about entertainment for the first half of May, but it just made sense to list all the movies together.   If the films alone aren’t incentive enough, they raffle off free prizes before every showing.

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Originally listed for $3,200,000 this bank owned stunning custom home is located in the prestigious golf course community of “Tuhaye” and is now offered for sale at only $1,400,000! With 7000 SF it has magnificent mountain views. It features 5 bedrooms and 6 baths. Highest end finishes throughout with rainforest marble countertops, travertine tile, hand tooled cabinetry and copper bowls in baths. Vaulted ceiling Great Room with French doors to deck and open to state of the art kitchen for entertaining and family. Master bedroom on main level complimented with a 2 sided fireplace, bath with copper tub, steam shower and huge walk in closet with builtins. The Family room includes full wet bar, and a 800 bottle wine cellar with iron forged door. Also, fitness room/additional study. Mother in law apt.with separate bedroom, full kitchen and breakfast bar and study/office. Solar heated driveway.

Call or email me to schedule an appointment to see it.

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The median sold price for condos went from $335,000 in the first quarter of 2011 to $401,628 for quarter one in 2012.

Vacant land also saw a rise in median sold price from $134,500 in 2011 up to $200,000 in 2012.

Prices

Median prices in the first quarter of 2012 have rebounded nicely from lower numbers which dominated much of last year. This increase in price can be directly attributed to an increase in condo and vacant land prices. The all area median price for single family homes is slightly lower for the first quarter of 2012 at $475,000 compared to $515, 000 in 2011. By area, first quarter statistics for single family homes are as follows:

• Within the Park City Limits there were 37 sales with a median price of $1,130,000.
• In the Snyderville Basin Area, there were 41 sales with a median price of $489,900.
• In the Heber Valley, there were 36 sales with a median home price of $248,450.

“Prices throughout our market seem to have stabilized, and in certain segments prices have started to increase. We saw this trend start in 2011 with single family homes, and we are now seeing it in condo and vacant land sales,” says Mark Seltenrich, statistician for the Park City Board of REALTORS®. He adds, “In certain parts of the market, and in certain areas, some pent up demand is being demonstrated and even among buyers there is little talk of prices continuing to fall.”

Sales have occurred in all market segments, with the very high end in upper Deer Valley and in Deer Crest doing well. On the other end of the scale, low end condos and low priced lots are becoming more and more difficult to find. Sales of new product has continued, and now the abundance of new developer units in the Empire Pass area has ended with only Montage having any stock of brand new units.

Distressed Properties

According to Rick Klein of Wells Fargo Home Mortgage, distressed sales, which include both foreclosures and short-sales, made up about 23% of sold properties in the first quarter of 2012, compared to over 36% in first quarter 2011. Specifically, 16% of all sales were bank owned and short-sales were just over 7%. Currently, only 7% of listings in Summit County are distressed.

Inventory

Another positive outlook for 2012 is that inventory levels have continued to decrease at a steady pace, with about 2100 units on the market now compared to about 2400 units in 2011, about 2775 in 2010 and about 3500 units on the market in 2009. At the end of 2011, prices for condos and vacant land continued to fall, while home prices saw a very slight rise. It was predicted at the beginning of 2011 that prices would stabilize more than they did. “It was mentioned many times that we were in a strong buyer’s market and that at some point prices would stop falling and start to rebound. It now looks like that has happened, and even though prices are still excellent, the chances of prices going down overall look very slim,” says Seltenrich.

In Summary In the first quarter of 2012, the number of sales was somewhat lower than a year ago, but prices rebounded nicely. The increase in the median sale prices in all areas is due to both condo prices and vacant lot prices going up in value. It appears that the bottom of the market has now passed in all property types. Although singular great deals will still occur, it will be more and more difficult to find those great deals and buyers should be content with finding a property that meets their needs and wants, at a good price, as opposed to that “steal”. Prices have flattened; inventory levels are down, and with the great interest rates and still a good selection, 2012 looks like it will be an excellent time to invest in Park City

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This announcement will be like music to your ears, because it is music…for your ears, beautiful classical pieces played by amazingly talented artists.  On April 10^th, 3:00 p.m. at Temple Har Shalom and April 11^th, 7:00 p.m. at Park City Community Church you can feast your ears on some of the best chamber music west of the Rockies at the Spring Chamber Music Festival.  Contact the Chamber Music Society for info on these and more concerts.

            I’m trying to talk my husband into going to this: The Old Time Autumn Contra Dance at Rockport Reservoir State Park on April 7^th at 7:00 p.m.  I’ve been to contra dances and they are more fun than a startled kitty.  The Loose Shoes Band and a live caller will have you doing walk-throughs, hands four, allamandes and do-si-dos till you can’t see straight – probably because you’re dizzy, hyperventilating or laughing hysterically.  See, it’s sort of a combination between the stately European court dances and a hootenanny.  It’s great fun and a workout to boot.  Introductory lesson starts at 7:00 p.m., dancing at 7:30.   Find out more by writing to sharoniama@aol.com.

            When the weather is kind of iffy, the Park City Film Series is always a good bet for weekend entertainment.  Every Friday and Saturday at 8:00 p.m. and Sunday at 6:00, they show really well-chosen films, from Oscar winners to wonderful foreign and art films you’re not likely to catch at the local ‘big budget blow it up’ movie theater.  Go to parkcityfilmseries.com or call 435-615-8291.

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