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Fractional Ownership/Use of Single-Family Dwellings

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On June 23, 2022, the City Council considered proposed Land Management Code amendments to Single-Family Dwelling Fractional Ownership/Use, received public input, and continued the discussion to October 6, 2022. Pacaso's Public Affairs Manger committed to pause acquisitions until these amendments are complete. 

On May 25, 2022, the Planning Commission forwarded a positive recommendation to the City Council for consideration to adopt amendments to the Land Management Code to address fractional ownership of Single-Family Dwellings in Park City.

The proposed Land Management Code amendments include:

  1. Definition of Single-Family Dwelling Fractional Ownership/Use
    • Not all residences with multiple owners or owned by business entities (such as family trusts, LLCs, or corporations without fraction use limitations) fall under the proposed definition. 
  2. Establish Single-Family Dwelling Fractional Ownership/Use in Zoning Districts where Timeshares and Private Residence Clubs are allowed and require a Conditional Use Permit
    •  In addition to requiring a Conditional Use, the amendments recommend creating management standards which the Planning Commission evaluates at the time of review
  3.  Establish regulations regarding management and use of the fractional ownership
    •  To protect primarily residential Zoning Districts, the proposed amendments recommend restricting fractional ownership to the same Zoning Districts outlined for Timeshare Units and Private Residential Clubs. If adopted by City Council, the following Zoning Districts will allow Single-Family Fractional Ownership/Use as a Conditional Use: 
      •  Recreation Commercial
      • General Commercial
      • Historic Commercial Business
      • Historic Recreation Commercial
      • Residential Development*
      • Residential Development - Medium Density
      • Regional Commercial Overlay

      *If approved, Fractional Ownership/Use will be prohibited in subdivisions that have specifically prohibited nightly rentals, these include: April Mountain, Mellow Mountain Estates  Subdivisions, Meadows Estates Subdivision Phases #1A and #1B, Fairway Meadows Subdivision, and Hidden Oaks at Deer Valley Phases 2 and 3.

  4. Require an active Business License for each Single-Family Dwelling Fractional Ownership/Use
    • Requiring an active Business License helps the City monitor and ensure the fractional ownership of Single-Family Dwellings operates in compliance with the proposed amendments. 

The map below identifies areas prohibiting Single-Family Dwelling Fractional Ownership/Use (red), and areas establishing them as Conditional Uses (green).

Fractional Ownership

MEETING DATES AND INFORMATION 

May 11, 2022: Planning Commission Work Session (Staff Report; Meeting Minutes

May 25, 2022: Planning Commission Review and Public Hearing (Staff Report; Meeting Audio

June 23, 2022: City Council Consideration and Public Hearing (Staff Report; Meeting Audio)

October 6, 2022: Upcoming City Council meeting and Public Hearing