Voters appear to have rejected the Snyderville Basin Special Recreation District’s $71 million bond on Election Day, according to preliminary results. The measure failed with 2,292 votes in opposition, or 54%. Voters who supported the bond accounted for 1,971 votes, or 46%. Basin Recreation requested the $71 million general obligation bond to build new facilities in Jeremy Ranch and Silver Creek. The original proposal was for a $150 million bond, which was reduced after community members and the Summit County Council questioned the project’s cost and need. Residents also noted they are already paying for multiple Basin Recreation bonds in addition to the district’s base tax rate. Basin Recreation Executive Director Robert Parrish said the reduction meant the facilities couldn’t have as many amenities as the district had initially hoped. He said the district, if the bond were approved, may need to pick between the Jeremy Ranch and Silver Creek locations or provide more limited services than the initial proposal, which outlined plans for specialized climbing and aquatic facilities. For primary homeowners, the bond would have added $12.09 for every $100,000 of a property’s taxable value, so a parcel worth $1 million would have paid $120.90 in addition to the district’s base rate and other bond debts. Secondary homeowners and businesses would have paid $21.99 for every $100,000 of a property’s taxable value. That means a business or second home worth $1 million would have paid $219.90 in addition to other costs. Parrish said some of the district’s three outstanding bond debts — two from 2015 and one from 2017 — will expire by 2028, which is when the district planned to start construction and draw on bond funding. Bond B from 2015 expires in December 2028, while the 2017 bond expires in 2030. Bond A from 2015 does not expire until December 2034. Parrish said resolving some of the district’s debt would have evened out the cost for taxpayers, saying residents would have likely only paid for all four bonds, plus the base tax rate, in 2028. Basin Recreation also has $6.3 million in its capital improvement fund, which Parrish planned to use to cover soft costs, like building permits and architectural designs, to delay when the district needed to draw on the bond to save taxpayers money. Only voters in the Snyderville Basin within the Basin Recreation boundaries saw the bond measure on their ballot. Summit County Clerk Malena Stevens previously said most residents living in the 84098 ZIP code are within the boundaries, but residents with an 84060 ZIP code — which covers most of Park City proper — are not. The results are preliminary and will continue to be updated throughout the week. Formal results remain pending certification from the Summit County Council on Nov. 17. Summit County Clerk Malena Stevens said Tuesday night’s preliminary results reflect fewer than half of the ballots cast, adding that every remaining ballot will be carefully processed and counted. The post Basin Recreation’s $71 million bond seemingly fails on Election Day appeared first on Park Record. ...read more read less