EDR Golf Course

[julietravels]

I am not an owner at EDR, but I do play golf. I have one question. If all 800 owners are given an annual golf pass that they can let anyone use on any day, that leaves the potential for 800 nonpaying golfers using the golf course every day, leaving no room for paying golfers. How will you make any profit or even be able to use your pass. Tell me where I am wrong about this?

Some owners might strongly disagree with you when you said that "800 nonpaying golfers". Since those "non paying golfers had to fork over about $870 annually to get that pass.

What I meant by nonpaying golfers was that there will be no room for outside golfers to pay the green fees, meaning no profits, only more expenses.

[dis & dat]

I am not an owner at EDR, but I do play golf. I have one question. If all 800 owners are given an annual golf pass that they can let anyone use on any day, that leaves the potential for 800 nonpaying golfers using the golf course every day, leaving no room for paying golfers. How will you make any profit or even be able to use your pass. Tell me where I am wrong about this?

Some owners might strongly disagree with you when you said that "800 nonpaying golfers". Since those "non paying golfers had to fork over about $870 annually to get that pass.

What I meant by nonpaying golfers was that there will be no room for outside golfers to pay the green fees, meaning no profits, only more expenses.

Hmmm Julie, you do raise a good point. By the developer selling some 800 passes for approx. $870 per year, that will raise approx. $400,000. How many outside golfers would be needed to buy how many rounds of golf to bring in that much money?

[Rob Hoare]

By the developer selling some 800 passes for approx. $870 per year, that will raise approx. $400,000. How many outside golfers would be needed to buy how many rounds of golf to bring in that much money?

Where does the $870 a year figure come from? The proposals from August quoted earlier in this thread said it would be around $476 per lot (which is still a significant increase for the LVDM people, especially for bare lots) - and that works out to around $400k for 800 lots (at $870 per lot, it would be nearer to $700k).

Rob

[dis & dat]

By the developer selling some 800 passes for approx. $870 per year, that will raise approx. $400,000. How many outside golfers would be needed to buy how many rounds of golf to bring in that much money?

Where does the $870 a year figure come from? The proposals from August quoted earlier in this thread said it would be around $476 per lot (which is still a significant increase for the LVDM people, especially for bare lots) - and that works out to around $400k for 800 lots (at $870 per lot, it would be nearer to $700k).

Rob

Thanks Rob, I had a brain seizure. It is $476 per lot. Glad you caught my misteak ).

[Turtleone]

There is now in place a new Golf Course Committee & a new EDR Golf Course Blog.
www.edrgolfspot.com

[sleepydog]

By the developer selling some 800 passes for approx. $870 per year, that will raise approx. $400,000. How many outside golfers would be needed to buy how many rounds of golf to bring in that much money?

Where does the $870 a year figure come from? The proposals from August quoted earlier in this thread said it would be around $476 per lot (which is still a significant increase for the LVDM people, especially for bare lots) - and that works out to around $400k for 800 lots (at $870 per lot, it would be nearer to $700k).

Rob

Thanks Rob, I had a brain seizure. It is $476 per lot. Glad you caught my misteak ).

Ed says: Don't forget there is also a special assessment of $300.00 for 2012, for LVDM residents.

[Turtleone]

Geeze--I was told it was $469 ??

[sleepydog]

:? Geeze--I was told it was $469 ??

I too was told it was $469.00 plus the $300.oo special assessment.

Ed

[bbybmr53]

I'll bet lender representative/financial agent Textron Financial is relieved that the golf course won't turn brown. I'm sure they didn't want to have to front the money for the upkeep.

[bajajorgeyana]

What's the $2000 figure I keep hearing from some quite reliable sources. Something like that amount was voted on by the eastside folks for some kind of deal. Or is that just hot tub rumor and inuendo . George

[Turtleone]

The only $2000 figure I heard of is what the golf pass is supposed to be worth. The eastside people are paying (last I heard) $469 Golf Course + $300 special assessment per lot.
If you hear of anyone wanting one of those passes I have acess to 15 of them for sale.

[Turtletwo]

Turtleone is correct. $2000 is the cost of an annual pass that existed before the proposal for LVDM owners to share the maintenance costs. The letter of intent that the vote was based on proposes a pass for each LVDM condo and lot owner that is not quite the same as the previous annual pass. The new passes do not include the cost of a golf cart, which is $10 a day.

The special assessment is $300. The projected cost of the maintenance for the owners was $469. However, the original proposal did not include Pat Butler paying the maintenance cost for his 90 units. He has agreed to pay the golf maintenance on his properties. The proposal also assumed that the rate of delinquency would improve slightly. I suspect the special assessment/golf maintenance and HOA delinquency rates will go the other direction. Of course, the amount collected has to be set before we know the delinquency rate. Han Wildschutte's email to his LVDM list said that the committee to work out the contract details would deal with this issue. The minutes of the first meeting included the following comment: "A discussion ensued on the lowering of the payments to reflect the fact the developer will be paying the golf course assessment on the lots/condos he owns thus having more than the estimated 800 accounts. No decision was made and it will be discussed further at future meetings."

[Turtletwo]

The minutes of the Golf Course Committee include the information that the amount of money collected because Pat Butler is paying the golf course maintenance fees on his properties would result in approximately a $45 deduction per lot/condo per year. However, the original amount of $469 as voted on will be collected and "at the end of the year the Committee will take a look at the amount collected and determine if it can be adjusted based on actual payments received."

The committee expects to have the information on the golf course passes firmed up before January 1.

[cain]

So much userful info about EFR GOLF course/ thanks a lot!

[Oliveber]

Hans Wildshuttes posted it on either or eldoradoyahoogroups or TSFG. I do not personally have it but have read it or I would post it here