Proposal Flagler Golf Management, LLC (FGM), will negotiate and - - PowerPoint PPT Presentation

Proposal

 Flagler Golf Management, LLC (“FGM”),

will negotiate and enter into a 40 year lease agreement for the 34 acre parcel inclusive of the entire property including all buildings, equipment, fixtures in an “As Is,” “Where Is,” condition, including clubhouse, and existing beer and wine license with the City of Flagler Beach, Florida, currently known as Ocean Palm Golf Course.

 FGM will bring the golf course and clubhouse

to operational condition, within 120 days of lease commencement. Greens will be over seeded for this winter and replant in the Spring of 2016 for the growing season.

 FGM will renovate clubhouse at its own

• expense. Cost of the renovation shall not

exceed 50% of the building value.

 The Driving Range will be shortened and

modified for IRONS ONLY.

Fazio Golf Design

World renowned

 At our sole and absolute

expense, we will team with, WORLD RENOWNED golf course design team FAZIO GOLF DESIGN. We will redesign, as it deems fit, and increase the agriculture to a more pristine condition over the next 2 years. This will give the venue a highly sought after appeal for the local and visiting golfer.

 FGM will employ a PGA member

(“Manager”) to manage the golf and clubhouse operation at a highly professional level. Manager will promote and conduct various weekly men’s and ladies golf leagues and tournaments, as well as instructional clinics.

 Manager will also be highly

proactive in the “hook-a-kid on golf” concept and will conduct FREE clinics and golf etiquette and introduction to bring a feel of local golf community to the local schools.

 The lease term will be for $1.00 for the first

five (5) years of the lease and then 3% of the gross revenue derived from the entire

• peration to include golf, food, and beverage

for the remaining thirty-five (35) years. However, this revenue will not include revenue earned by golf professionals receiving compensation for lessons.

Repair irrigation system (including 2 new pumps and controllers) $80,000.00 Remove Brazilian Pepper, chip Brazilian Pepper for cart path & common area mulch $20,000.00 Clubhouse repair $50,000.00 Water and electric connection $500.00 Dumpster – construction only $600.00 Security cameras $1,200.00 Replant greens/Over seed $7,000.00 Driving range net $5,000.00 Range ball dispenser & picker $2,000.00 Total $166,300.00

Greens mower $4,000.00 Tee mower $4,000.00 Fairway mower – reel $4,000.00 Fairway mower – hydraulic reel $10,000.00 Rough mower – rotary $6,000.00 Rough mower –reel $4,000.00 Small tractor $15,000.00 400 pound spreader $2,000.00 100 gallon spray rig $2,000.00

Utility vehicle $10,000.00 Top dresser $2,500.00 Small equipment/hand tools $4,000.00 Course equipment (flags, coolers, markers, etc.) $1,000.00 Pickup truck $7,500.00 6’x12” trailer $1,000.00 Golf carts (10) $30,000.00 Miscellaneous tools $1,000.00 Total $108,000.00 Capital Improvements $166,300.00 Total Investment from FGM $274,300.00

 FGM will remove the Brazilian Pepper

trees plaguing a great portion of the

• property. We ask the City to contribute

their budget money used for current mowing ($14,700).

Pro $25,000.00 + bonus Working Superintendent $35,000.00 Labor (2 @ $25,000.00 each) $50,000.00 Mechanic –part-time $10,000.00 Total $120,000.00 (+)

Irrigation Supplies $3,000.00 Fertilizer $15,000.00 Pest Management $10,000.00 Overseeding $1,200.00 Equipment Repair $5,000.00 Equipment Rental $4,000.00 Equipment Replacement $10,000.00 Fuel & Oil $5,000.00 Sand & Topsoil $2,000.00 Utilities (water & electric) $10,000.00 Portable Restroom (between #5 & #7 green) $1,200.00 Insurance $2,500.00 Total $68,900.00 Total from Salaries $120,000.00 Annual Operating Costs $188,900.00

 FGM estimates the Golf Course should have

20,000 rounds of golf per year. Greens fees shall remain low to attract more play at $20/9 holes ($400,000.00).

 Additional revenues to include:  Driving range operation ($10,000.00).  Golf cart and club rental ($20,000.00).  Food and beverage ($40,000.00).  Expected gross revenue ($470,000.00)

 Gross revenue projection $470,000.00  Annual Operating Costs $188,900.00  Projected Net Revenue

$281,100.00

 The City of Flagler

Beach will maintain a “friendly” public/private partnership with Flagler Golf Management, LLC, throughout the term of the lease to establish a mutually beneficial partnership lease with both parties.

 AS

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ver 300 r 300 p pro roperties in in the he las last 4 4 years ars and and hav have d done ne re renovations in in exce cess 10 10,000,000.00.

 FGM w

will e ll establis lish a a scholar arsh ship p progr gram am t to be named b by y them at at a a lat ater t time.

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will c ll conduct a an a annual l golf tou f tournament w t with th the proce

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the tou tournament t and o d other er r reven enue s e sources es t to be gi given t to a a se selected LOCAL L high sc school ap applicant.

 Sele

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applic licant w will ll be mad ade by a sc y a scholarship com

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ad advisors. s.