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A business partner of Wallace’s paid a visit to the county recorder’s office in Coalville in the meantime.

“He unearthed that probably 80 to 85 % of all of the (Park City Old Town) lots – home lots, and company properties, for that matter – had been on the market for fees. So he said, ‘You know, i believe we could purchase a lot of those. If that which we do allows Park City rebound, that is likely to be some valuable property.’

Wallace stated he offered their partner the green light to invest $85,000 to $90,000 to purchase “several hundred” lots.

“after which we told my partner, we stated, ‘You know, we’re employed by United Park Mines business, and I also think we owe it in their mind to allow them find out about this and view when they are interested those, or some of these, lots.’ Well, they did. These were grateful. Plus they bought about 90 % of everything we purchased, for similar cost for). that individuals had purchased ( them”

In 1962, the mining business sent applications for a brand brand brand new federal loan system built to strengthen the economies of depressed areas. Utah magazine writers utilized A august 1962 luncheon with president kennedy to lobby from the company’s behalf. Later on that the government approved a loan of $1,232,000 month.
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