By Deborah Goonan, Independent American Communities
Updated April 19, 2018 7:07 A.M.
Course investor says, ‘I feel I’ve been duped’
All he wanted, William Day told about 50 Club West residents, was “a solid investment that made sense.”
Instead, he said, after investing $250,000 in Club West Golf Management and giving course owner Richard Breuninger another $100,000 for grass seed, he finds himself in a frustrating mystery.
Day met for more than an hour March 28 with about 50 of the estimated 62 people who paid between $3,600 and $6,000 to join a semi-private club that Breuninger created shortly after his Inter Tribal Golf Association signed a $1.3 million note to buy the course from Wilson Gee Dec. 1.
Those members had invited him to discuss his involvement with Breuninger and the course’s management company as they pondered ways to get back their membership fees.
Members also expressed concern about the course’s long-term future, and are discussing the possibility of putting together a statement of support for Day’s efforts to oust Breuninger and in return pay off a delinquent $218,000 water bill as well as other debts exceeding $100,000.
An investor, William Day, and several would-be golf club members ponder how to get their money back after a recent deal to purchase Club West golf course went sour. It appears Richard Breuninger, the current owner who had promised to save the golf course by coming up with a solution to a lack of affordable water supply for irrigation, has deceived Day and other homeowners. The course remains deep in debt, with nothing to show for their investments.
HOMEOWNERS SEARCH FOR SOLUTION TO GOLF COURSE DEVELOPMENTS
Golf courses are seeing fewer players teeing off and that has real estate developers seeing dollar signs as they look…
Posted: Mar. 31, 2018 5:24 PM
Updated: Apr. 1, 2018 9:20 PM
Golf courses are seeing fewer players teeing off and that has real estate developers seeing dollar signs as they look for more land to build homes.
The trend has several homeowners associations in the Las Vegas valley taking developers to court.
This as the struggling courses were sold and the new owners are trying to build homes on the once lush fairways.
“This is an epidemic that is sweeping our state and something that needs to be addressed,” Stephen Silberkraus said.
At issue in three cases recently in court revolves around the agreements in the HOA documents aimed at keeping the golf courses in the neighborhoods operational long term.
Those in the real estate industry say golf courses aren’t making money and are on highly sought after land making them an ideal place for development.
One former Nevada Legislator (Assemblyman Stephen Silberkraus) is considering a bill proposal for 2019: give homeowners in the HOA a first right of refusal to purchase a golf course, when the owner decides to sell.
St. Lucie West negotiating to buy Trails Golf Course Clubhouse and 15 acres for drainage
George Andreassi, firstname.lastname@example.org Published 5:40 p.m. ET March 27, 2018 | Updated 6:02 p.m. ET March 27, 2018
PORT ST. LUCIE — The Trails Golf Course clubhouse would be converted to government offices, and stormwater facilities would be developed on 15 acres of golf course land under a deal being pursued by the St. Lucie West Services District.
District supervisors voted unanimously Tuesday to negotiate with CGI St. Lucie LLC, of Palm City, to buy the 24,000-square-foot clubhouse, pool, tennis courts and the 15 acres.
CGI St. Lucie anticipates closing its purchase of the Trails Golf Course from PGA St. Lucie Inc. on Friday and then spinning off the clubhouse, related amenities and 15 acres of golf course land.
CGI St. Lucie has asked the Services District for $1.1 million for the six properties, district records show.
The six parcels involved have a combined market value of $2.4 million, property appraiser records show. The clubhouse property alone has a market value of $1.1 million.
The PGA made a deal to sell the Trails Golf Course to another private buyer, CGI St. Lucie, LLC.
Florida Community Development District (CDD) then voted to negotiate the purchase of a portion of the property from CGI, including the pool, tennis courts, and club house, which the district plans to convert to office space for St. Lucie West Services District.
The District is also planning to purchase 15 acres of golf course land, which will be used to upgrade storm drainage facilities for the surrounding community, in order to address long standing flooding problems.
The purchase would raise more than $1 million for golf course manager Tom DeShazo, who recently promised more than 100 members of Country Club Estates that he knows how to make the golf course profitable again, even though several others, including the PGA, have failed to make money in the business.
Teeing off, or tea-ing up
Developer plans demolishing clubhouse, hints of restaurants; Homeowners planning initiative petition against development
BY JAMES COBURN THE EDMOND SUN March 26, 2018
Coffee Creek residents are concerned about the former clubhouse of the Coffee Creek Golf Course as it remains vacant since the golf course was sold to new ownership in January 2017, said Tonya Coffman, past president of the Edmond Neighborhood Alliance and president of the North Coffee Creek Homeowners Association.
Shingles and siding are coming off the clubhouse. Pieces of concrete were left on the ground after a windmill and barn were sold at auction, Coffman said.
“The building that is formerly a club house will ultimately be razed,” [Kyle] Copeland told The Edmond Sun. “So if shingles are off of it — it is what it is.”
Many Coffee Creek residents have rallied against the development on the former golf course since news of the golf course sale was announced in January 2017. There are 296 homes comprising the homeowners association.
The new landowner plans on redeveloping the defunct golf course with residential and commercial properties. Homeowners in the Neighborhood Association are gearing up for a legal battle, or a possible purchase of the land from Copeland to prevent redevelopment. According to the report, the HOA is collecting donations from homeowners.
Brevard County commissioners back deals to get out of golf course business
Dave Berman, FLORIDA TODAY Published 5:52 p.m. ET March 20, 2018 | Updated 6:00 p.m. ET March 20, 2018
Spessard Holland golf courseBuy Photo
(Photo: TIM SHORTT/FLORIDA TODAY)
It looks like Brevard County’s three golf courses will be out of the county’s hands by October.
County commissioners on Tuesday voted 4-1 to approve transferring The Savannahs golf course on Merritt Island to The Savannahs at Sykes Creek Homeowners’ Association.
Interim Assistant Brevard County Manager Jim Liesenfelt said he hopes this transfer could take place by May 1.
Separately, commissioners voted 5-0 to work toward reaching a deal to transfer operation of two county-owned south Brevard golf courses to a new nonprofit organization of local residents called Golf Brevard. Those courses are The Habitat in Grant-Valkaria and Spessard Holland, which is south of Melbourne Beach.
“It’s very exciting,” County Commission Chair Rita Pritchett said, referring to the county being poised to get out of golf course operations.
The golf course business has proven to be a financial strain for the county and its Parks and Recreation Department.
Brevard County Commissioners are just giddy about the fact that they are unloading unprofitable golf courses onto local homeowners’ associations or other private organizations. I wonder what homeowners think about assuming responsibility for maintaining money-losing “amenities?” How many of the homeowners are in favor of these deals? How many are not in favor, but, nevertheless, obligated to pay increased HOA assessments?
Henderson golf course owners reach settlement with homeowners (NV)
By Sandy Lopez / Las Vegas Review-Journal
March 16, 2018 – 5:10 pm
Updated March 16, 2018 – 6:43 pm
Legacy Golf Club owners and residents settled a legal fight Thursday afternoon after both parties agreed to create a stronger deed restriction and develop a part of the property.
The Legacy agreement came one day after both parties headed to trial before Judge Joe Hardy Jr.
“This is a really good settlement for the homeowners,” said Erika Pike Turner, attorney for the Grand Legacy homeowners association. “I could not be happier. We got what we wanted from the lawsuit, which is continued maintenance of the 18-hole golf course.”
Potential development would be considered for the east side of the property near Green Valley and Wigwam parkways. Legacy owners Eddie Haddad and Georges Maalouf plan to meet with homeowners to develop a plan for enhancing the course.
“We don’t just want to survive, but we want to survive and thrive,” Haddad said.
Henderson golf course owners, residents head to trial (NV)
A legal compromise will keep the golf course a bit longer.
Auction Date Set For Eagle Pointe Golf Resort(IL)
Updated March 15, 2018 7:10 AM
(BLOOMINGTON) – A trustee appointed by the bankruptcy court to oversee the fate of Eagle Pointe Golf Resort has hired an auctioneer to sell the approximately 130-acre property.
Mary Shone of The Herald Times reports the request to sell the property is awaiting a federal judge’s approval, but went without objection from officials representing the former golf resort’s owner, Pointe Properties LLC.
The real estate to be sold includes a clubhouse, a cabana bar and a 101-square-foot hot dog shack. The property includes the golf resort, pro shop and bar and dining facilities. It has been appraised at $1.65 million, and does not include any of the residential areas at Eagle Pointe.
Deborah Caruso, the court-appointed trustee overseeing the Chapter 7 bankruptcy case, filed a motion Feb. 15 in U.S. Bankruptcy Court seeking to hire Norman J. Gallivan Inc. to conduct the liquidation auction. Her motion was granted last week.
One of the expected bidders is Pointe Service Association, a homeowners association that represents 19 neighborhoods with approximately 900 total residents who live near the golf resort on Lake Monroe. The Association intends to make a qualified bid to purchase the property and plans to participate in the auction on April 16, 2018.
Pointe Service Association Submits Winning Bid For Eagle Pointe Golf Course
Posted April 16, 2018
Pointe Service Association President Jeff Norris says residents of the 19 villages at Eagle Pointe were disappointed when the most recent owner of the resort’s golf course filed for bankruptcylast year.
“There was just a growing voice within the community of ‘Why don’t we just buy this? Why don’t we own it as a community owned golf resort?’”
Norris says the PSA submitted the winning bid for the course at an auction Monday morning, but would not disclose the purchase price.
He says the organization plans to form a separate corporation that will be in charge of the golf course, restaurant, bar and other associated facilities. The corporation will hire a general manager to run the resort.