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Consideration of and action on an ordinance amending the Fiscal Year 2016-2017 Budget of the Golf Course Lease Fund for additional equipment and capital improvements.
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Summary: In accordance with the City's Lease Agreement with Touchstone Golf LLC, Touchstone committed to funding $450,000 of capital improvements over the first three years of the lease. Through the end of the third year of the lease, Touchstone has made capital contributions of $515,668 exceeding their original commitment by $65,668. In June 2016, Touchstone requested assistance from the City for additional equipment and capital improvements for the golf course. The City Council approved $60,000 for these expenditures including a chemical storage building, aerifier, tree removal, and drainage and erosion improvements. To date, Touchstone has expended $18,883 of those monies for the chemical storage building and aerifier.
During a Golf Course Committee meeting in January 2017, Touchstone presented a revised prioritization of capital needs, replacing some of the projects approved in June 2016. At the same meeting, Touchstone requested funding for repairs to the decorative cannon, a signature piece of the landscape at the Battleground Golf Course. Details of the revised capital improvement project list, including changes from the previous list, will be presented at the City Council workshop on February 21, 2017.
Based on the revised prioritization of capital needs, Touchstone is requesting $39,420 to fund (1) lake bed erosion improvements in the amount of $25,750, (2) driving range improvements, including replacing mats with sod at a cost of $6,920, and (3) drainage repairs at a cost of $6,750. Touchstone is also requesting $4,293 for repairs to the decorative cannon. An amendment in the amount of $43,713, for the additional equipment and capital improvements for the golf course is proposed for the Fiscal Year 2016-2017 Budget of the Golf Course Lease Fund.
Fiscal/Budgetary Impact...
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