Preserving the Residential Character of Boca Teeca

Tuesday, September 27, 2016

Municipal Golf Course Sell Timeline

At yesterday's city council workshop meeting assistant city manager George Brown laid out a recommended process and timeline for the sell of the current municipal golf course on west glades road.  At tonight's city council meeting the city council will consider this recommended process and timeline, but in comments after the presentation most council members were in agreement with the process and time recommended.

10/21/16 - Best Offer submissions due from interested buyers
11/22/16 - City Council considers offers & selects buyer
               - Revised offers may be made up until this meeting vote, so expect some last minute
                  maneuvering by the several interested buyers

The presentation also provided information on the estimated cost to refurbish the Ocean Breeze course should the city acquire this during the process:
 $6 million to rehab & open "as is"
 $12 million to reopen as a quality municipal golf course
 $20 million to reopen as a world class golf course

At tonight's city council meeting, at the end of the meeting, the city council will direct the city staff toward the process and timeline as recommended by George Brown.   This appears to be a fairly good process but in order to protect the city it is suggested that at least 10% of the purchase price should be a non-refundable deposit in order to encourage the buyer to process the county development approvals on a timely basis so this transaction will close upon those approvals being obtained.

Saturday, September 24, 2016


After waiting over a month for a detailed analysis by city staff of the offers for the city's municipal golf course, the only staff publication on this issue is a bigger spreadsheet of offers.  Similar to an EBay auction, there will be expected to be more offers gradually to be received by the city until they set a specific deadline at which time the inerested buyers submit their best offers at the last minute.
Maybe the city should try EBay for the selling process?

Tuesday, September 13, 2016

Wells Fargo Fined $185 million

Wells Fargo has been fined $185 million for systematic consumer activites thT resulted in their opening around 565,000 credit card accounts without the authorization by their clients.  Could this consumer failing also involve other credit issues, such as mortgages?

This does not appear to be a trustworthy financial institution, so if you are still doing business with them, then you better watch your statements carefully, both checking and loan statements.

Could Wells Fargo be less than trustworthy on their lending relationship to Boca Raton area residents?