Completed Projects

Since the 1996 inception of the Trust Lands development team, a number of important projects have been completed. Each transaction has its own unique structure, based on the nature of the property and development in question. Trust Lands is proud of the partners with whom it is working and is confident that the transactions described below will provide opportunities for both Trust Lands and its partners to achieve their respective goals.

The Canyons back to top

Trust Lands Administration owns 800 acres immediately adjacent to The Canyons Ski resort in Park City, Utah. A long term business relationship has been established with American Ski Company, owner of The Canyons. This arrangement gives American Ski the right to develop the land for skiing and to construct a mid-mountain ski village of approximately 1,250,000 sq. ft. on the Trust Land property, providing compensation to the Trust in the form of ski and development rentals, participation in proceeds from sales of residential building sites and percentage rents on commercial activities.

Cedar Valley back to top

This tract, located near the center of Eagle Mountain, has been sold to a local developer for use as residential subdivision land.

The Colony back to top

In White Pine Canyon, adjacent to The Canyons ski resort, private developers are initiating a large lot development called The Colony. Trust Lands owned approximately 700 steep hillside acres which were integrated with the 4,000 acres of private land for this development. This transaction was set up in the form of a development lease agreement, with an option to purchase. In the Fall of 1998 the option was exercised and the land sold. The ski rights on the sold property are reserved to the Trust and have been leased to the American Ski Company as a part of the 'Canyons' contract.

Coral Canyon back to top

Trust Lands owns an 1800 acre tract of land north of St George, immediately to the Southeast of the interchange of I-15 and SR-9. The property has been master planned for a golf based community of 3700 residential units, surrounded by ample developed and undeveloped open space, a resort hotel and 220 acres of commercial functions. The Trust has entered into a long term development lease with the master developer, SunCor of Phoenix, AZ. Under the lease, the Trust is compensated on lot sales as they take place, based on a percent of sales price, the Trust is afforded the opportunity to participate long term on commercial development opportunities and the land underlying the golf course is ground leased to the developer over a long term with the Trust compensated on a percent of gross sales.

Cottonwood Heights back to top

The Trust owned a 15.28 acre parcel North of Richfield in Sevier County. The Trust partnered with a local developer, adjoining landowners and community leaders in an effort to plan for the property and its surroundings. In speaking with community leaders a need for medium priced housing in the Richfield area was identified. A sale was negotiated with the local developer, who will develop 31 residential lots in two phases, to fill that need.

Dwarf Bear Claw Poppy Exchange back to top

Trust Lands Administration and the U.S. Bureau of Land Management (BLM) completed a land exchange in St. George which preserves critical habitat for the Dwarf Bearclaw Poppy - a threatened species. In this exchange the Trust Land Administration conveyed 200 acres of valuable poppy habitat to the BLM. In return, Trust Lands received 130 acres of land with development potential. This transaction was a classic win/win - with the Trust and its beneficiaries getting good development, while enhancing and protecting our environment that we live in.

Fort Pierce Industrial Park back to top

An industrial park south of St. George has been established on 160 acres of Trust land, with possibilities for expansion of the park up to 600 acres if the community needs it.

The park is a cooperative effort between state and local government, a utility and private developers. Trust Lands provides the land, Larkin-Gifford-Jennings, private developers, provide capital and management expertise, Dixie Escalante Regional Electric Association loaned money for infrastructure and provides power rates incentives and the City of St. George loaned money for infrastructure and provides incentives for new jobs. The trust benefits from this partnership through the capture of increased value for the land. The community benefits through the creation of more jobs, an improved tax base and a well planned development. The private developers profit through application of their development expertise and capital to the project.

Gateway Industrial Park back to top

Trust Lands has entered into a development relationship with Perry and Associates, Inc. and Fort Union management Company L.C., to manage development activities on the trust's 120 acre industrial property in Hurricane, Utah. This property is immediately adjacent to the Walmart distribution center in Hurricane. Bill Perry and Lear Thorpe, the principal of the two companies, join in this project as Gateway L.C. Businesses wanting to locate in the Industrial park will find several options available - purchase, ground lease, build-to-suit and, eventually ready-to-occupy rentals. Pursuant to the transaction structure, the Trust receives a base compensation for each acre developed and participates in revenues beyond that amount at a specified rate.

Magna back to top

Trust Lands Administration sold 13 acres of R 1-10 residential land in Magna to a developer in Salt Lake City. The development team worked with eight different developers, showing the land, until one developer made a decisive offer.

The Ranches back to top

The Trust owned a 265 acre parcel adjacent to the planned Cedar Pass Ranch residential community. The location of the Trust property makes inclusion in the adjacent development a logical choice. A sale has been negotiated with the developer for the entire 265 acre parcel. This includes 50 acres, that have been sold with a deed restriction requiring the land to be used for open space.

Ticaboo back to top

Trust Lands owns a 635 acre parcel in Ticaboo in Garfield County, approximately 12 miles north of Bullfrog. The property is under a long term lease since 1977. The property has been master planned for a golf based community. The development Division has worked extensively with the developer to restructure the lease in 1997 to make the sale of residential lots possible under the lease. Low base rent coupled with a percentage rent on going operations allow for a slow start up for this remote development.