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12/2/1986
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12/2/1986
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
12/02/1986
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y, <br />DEC <br />2 <br />1986 <br />568 <br />Chairman Scurlock noted <br />that we need to get staff <br />to look at <br />funding alternatives for the clubhouse, and he has requested that <br />the tourist tax be considered as a potential source of revenue, <br />- but that was not well received by the Tourist Tax Committee. <br />Commissioner Wheeler felt the problem was that this probably <br />was not legal. <br />Director Thomas wished clarification. His understanding was <br />that last week the Board said staff should proceed with the <br />bridges, the cart paths, the cart building, and paving the <br />parking lot, but he needed to know the status on the clubhouse. <br />Commissioner Bird believed the Chairman is saying that <br />staff is going to come back with financing alternatives for the <br />additional $140,000 and hoped this could be done by the next <br />meeting. <br />Director Thomas stated that he had no recommendations, and <br />he felt this should go to the Finance Committee. <br />Commissioner Eggert stated that she had felt there was a <br />Motion that this information should be returned to us at the next <br />meeting, and Director Thomas said he had no alternatives to <br />present at this time. <br />Discussion ensued re possible alternatives, including <br />borrowing from a local bank, and Chairman Scurlock advised that <br />projections based on the proposed rate structure and on 60,000 <br />rounds a year show there will not be not enough revenue to <br />support the.golf course on its own merit let alone the clubhouse. <br />Based on that rate structure and deducting the required operating <br />expenses, he believed,we will have a $9,000 deficit at the fifth <br />year; so, there is no ability to fund another $4,000 or $5,000 a <br />month debt service. The Chairman seriously doubted we can count <br />on 400 additional rounds of golf a month over the projected <br />60,000 rounds, and he, therefore, believed the only alternative <br />is to raise the fees. <br />Commissioner Wheeler asked how the proposed fees compare to <br />44 <br />
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