HERE IS ANDERSON'S LETTER:
Madeline,
I see you've had a few responses to my letter. I was not suggesting we try to buy the golf course. The intent of what I wrote was to say we are better off trying to support someone else buying the course. I firmly believe support for buying it would be very low. Support among the nine board members would be even lower. I may very well be the only board member willing to consider it. Think about what it would take for us to buy it. Let's say we could buy it for $600,000. According to Mitch Thompkins and his estimates, to replace the greens and clean up the course and get it operational would cost $500,000. And he also stated the cart paths need to be completely replaced. I believe he estimated that number to be $100,000. That's $1.2 million before you could tee up the first golf ball. Rumor has it the manor house is a complete wreck. Mold, water in the basement, missing equipment etc. let's assume the cost to get that operational is $100,000. The pool is in poor condition and is rumored to be missing most of the equipment. The tennis courts need to be completely redone. We would need to purchase golf carts, maintenance equipment, restaurant equipment, etc. So conservatively we would need about $1.3 to $1.5 million to get the golf course purchased and operational. We don't have anywhere near that kind of money. Our ability to borrow it would require a vote of the membership, which would be tough. The cost of running it, depending on if we keep it private or semi private, would probably be in the 300.000 to 400,000 per year range. It's a huge undertaking. So while the cost of running it year-to-year might only increase our assessments by 60% to 70% , the real problem is the capital to buy it and and make it operational. The board could levy a special assessment, but there would be tremendous political pushback. I don't think the majority of the current board would even consider a plan like this. I just don't see how we as a homeowners association ,can buy it and run it. The one thing you will always get from me is pragmatism. We need to be realistic. I know at one point there was a group of residents kicking around the idea of forming a corporation and buying it through raising capital by selling shares. I don't think that plan got off of the ground for the same reasons. The cost is just too high. I would love to see us be able to purchase it and secure its future forever. I just don't see a path for that to happen. I still believe the only realistic option is for someone else to buy it and the community step up and support it. I don't want to come off as overly negative. I would love to see us own it out right and would personally be willing to pay my share for it. I just don’t think it is very realistic. All of that being said if a group of residents want to look at putting together a proposal I would certainly help in whatever capacity I could including being a liaison to the board.
Adam Anderson
NOTE: As a resident, I thank board member Anderson for his continued effort to talk to the residents, and respond. Residents, get your thoughts, and ideas into the blog.
NOTE: As a resident, I thank board member Anderson for his continued effort to talk to the residents, and respond. Residents, get your thoughts, and ideas into the blog.
