The purchase of the Ocean Breeze golf property is contingent upon the city council approving financing to the Beach & Park District via an Intra-Local Agreement (ILA). This means that the politics of the city are still a significant hurdle even tough the city is not buying the property.
A few vocal residents are opposing the purchase of the Ocean Breeze golf property due to the question on the purchase price of $24 million being higher than the appraised value. But, the valuation should be compared to the multiple offers for the smaller municipal course for $73 million. Generously estimating the value of the deed restriction at $10 million (cost to buyout 850 Boca Teeca property owners versus $350,000 by MCZ for a 211 unit development on 30 acres) this would value the Ocean Breeze property at $63 million which makes the $24 million offer a bargain.
Taxpayers will get a net benefit of $40-$50 million once the current municipal course is sold for $73 million. This is a major financial victory for all Boca Raton taxpayers.
Failed mayoral candidate Al Zucaro publishes his Boca Watch blog and he has shown a negative bias in publishing one Royal Palm Country Club resident's negative comments. Several of Al's friends in central Boca have also posted negative comments on the financing required by the city.
It is important that supporters of this property acquisition call and email city council to voice your support for bringing a championship level "public" golf course into our city.