Golf Course Committee. Robert Pickett Mayor Keith L. Volz Bob Wilson Don Douglass Council Member Brock Thomas Shanna Chastain Tom Tervo Kathryn Billings, Town Manager Mark Pond Hugh Cates Richard Mandell , ASLA, RLA Sheree Crane Davis Hoke Larry Lain.
Robert Pickett Mayor Keith L. Volz
Don Douglass Council Member Brock Thomas
Tom Tervo Kathryn Billings, Town Manager
Hugh Cates Richard Mandell, ASLA, RLA
In the last several years expenditures on failing infrastructure has climbed to a point that during this fiscal year we have spent over a quarter of a million dollars in repairs and replacement.
The need for renovation is well documented.
Golf Course Committee Recommendations
Age of Course and the repair bills from the
The recommended approach is Alternate B (with some reductions) with the goal of an estimated cost of $3.5 million.
The current favorable bid environment we may expect a considerable decrease in bid prices.
Conservative interest rate estimates of 5% on 20 year debt service
Annual debt payment of $281,000
Estimated annual debt payment equates to .07 cents in tax dollars
.07 tax rate on a $100,000 home is $70
.07 tax rate on a $350,000 home is $245
Variables that will influence the need to use tax dollars to repay the debt
Increase in play at the course – Conservative 7% increase
Increase in fees at the course – Conservative $3 increase
Conservative estimate of $185,000 annual increase
Eliminate Infrastructure “surprise” expenses
Decrease Maintenance expenses by 20-25%
Conservative estimate of $xx,xxx annual savings
Net increase in revenues and savings in maintenance could cover the debt service
Tax dollars and some reserves are required to balance the budgets for the construction years.
Both years will have reduced revenues and some reductions in expenditures
Estimated short fall in 2010/2011 …. $
Estimated short fall in 2011/2012 …. $
Funding future needs
Instruct manager to sign contract with Richard Mandell to begin Construction Documents by April 1, 2010. Amend current budget ($90,000) to commit funds for this contract
Instruct staff to build the 2010/2011 budget to proceed with renovation plans
Review bids in late summer and select a contractor