At the 12/11 workshop meeting of the city council it was obvious that the city's assistant manager, George Brown, did not brief anyone on the council, or the city manager on the timeline and process underway at the Park District to acquire the closed Ocean Breeze golf course. It was a clear case of the left hand not knowing what the right hand was doing as the council members and the city manager appeared to not have an accurate understanding of what was going on, UNTIL Mr. Brown informed them that he had met earlier in the day with Park District executive director Koski. He informed the city council that the seller has a fiscal year end of 2/28/18 and they wanted to get the sell of the property closed prior to this date.
BUT, at the present time the deadline for the contract between Lennar/Wells Fargo & the Park District is 1/26/18 so it would appear that a 1-month extension is being negotiated by Mr. Koski in order to meet the losers deadline. Thank you to the majority of the city council for inquiring about this issue (after the public comments by Harold Chaffe, Leader of Keep Golf In Boca) which should be on the next several agendas and not require pulling teeth/info from city staff who are informed on the issue.
Why hasn't the Park District provided an Intralocal Agreement to the city for their approval which takes 2 meetings of the council?
If the city council overwhelmingly approves the Intralocal Agreement by 1/23/18, then will the Park District commissioners consider using the plentiful funds in their bank account, over $45 million, in order to pay the $24 million and then obtain the required funding from the city to fund the purchase?
*It would appear that the very well financed Park District could ease the timing of the closing by
simply writing the check to buy the property at the end of January and then work with the city
on completing the lending agreement. After all, most of the Park District's expenses are checks
to the city for the maintenance of the parks owned by the Park District, so this should be an easy
transition of funds from the City to the Park District whenever they get around to getting a bank
loan or proceeds from a bond issue.
Next meeting of the Park District is Monday December 18th at 5:15pm at Sugar Sand Park. This is the last meeting of the year and it could be an interesting discussions not how they will pay for the purchase of the Ocean Breeze property and their cash flow planning.
Thursday, December 14, 2017
Tuesday, November 28, 2017
Golf Course Update
At the 11/27 meeting of the Greater Boca Raton Beach & Park District (GBRBPD) executive director Art Koski provided an update on the acquisition of the closed Ocean Breeze golf course in which the District has a contract to buy with a final closing date of January 26, 2018. Due to complications with the city financing the District is currently working on negotiating an extension for the closing to late Feb. or March 2018.
The city is planing to provide financing of the $24 million purchase price with the 2nd meeting for the Interlocal agreement scheduled for the 1/23/18 meeting of the city council. Subsequently the council will need 2 meetings for approving the borrowing of funds which would put the final funding into late February 2018. Mr. Koski is confident that Wells Fargo and Lennar (current owners and controlling parties of the golf course property) will be cooperative in the request for the extension of time to complete the closing of this transaction.
The GBRBPD has already started the planning for the property renovation by issuing an RFP to golf course architects which will be opened on 12/20/17 at the offices of the District at Sugar Sand Park. It is expected to take 6-7 months for planning after the closing before construction on the property will begin. With an estimated 12 months for construction on the renovation this will closely mirror the timeline for the closing of the current municipal golf course which is being sold to GL Homes for approximately $65 million. This should result in a nice windfall to the taxpayers of Boca Raton, but the city has not revealed their plans for the use of these proceeds.
The next meeting of the GBRBPD on 12/4 at 5:15pm at Sugar Sand park may be interesting since they are discussing how to purchase the property that has historically been the social center and hotel at the SE corner of Jeffrey St. and NW 2nd Ave. Do residents prefer a 150 room hotel or a community center that is available to all residents of the city?
The city is planing to provide financing of the $24 million purchase price with the 2nd meeting for the Interlocal agreement scheduled for the 1/23/18 meeting of the city council. Subsequently the council will need 2 meetings for approving the borrowing of funds which would put the final funding into late February 2018. Mr. Koski is confident that Wells Fargo and Lennar (current owners and controlling parties of the golf course property) will be cooperative in the request for the extension of time to complete the closing of this transaction.
The GBRBPD has already started the planning for the property renovation by issuing an RFP to golf course architects which will be opened on 12/20/17 at the offices of the District at Sugar Sand Park. It is expected to take 6-7 months for planning after the closing before construction on the property will begin. With an estimated 12 months for construction on the renovation this will closely mirror the timeline for the closing of the current municipal golf course which is being sold to GL Homes for approximately $65 million. This should result in a nice windfall to the taxpayers of Boca Raton, but the city has not revealed their plans for the use of these proceeds.
The next meeting of the GBRBPD on 12/4 at 5:15pm at Sugar Sand park may be interesting since they are discussing how to purchase the property that has historically been the social center and hotel at the SE corner of Jeffrey St. and NW 2nd Ave. Do residents prefer a 150 room hotel or a community center that is available to all residents of the city?
Wednesday, September 20, 2017
Important Meetings 9/25 & 9/26
There are important meeting concerning the pending Ocean Breeze golf course acquisition by the Greater Boca Raton Beach & Park District on 9/25 & 9/26. These meetings are critical as the Beach & Park District requires the financing of the transaction by the city council which will be addressed at the 9/2 6 meeting at 3pm at 6500 Congress Ave.
The Beach & Park District will have extensive planning discussions on the plans for the property at their 9/25 meeting at 5:15pm at their Sugar Sand Park offices on S. Military Trail. The big issues are:
1) Current Deed Restriction - the Park District has obtained a legal opinion that indicates that the District would not be subject to the current deed restriction which requires the property to only be used as a golf course. At numerous meetings with city officials there have been suggestions by several elected officials that some of the property could be used for other purposes in the future.
2) Use of the approximate 4 acre parcel located on the SE corner of NW 2nd Ave. & Jeffrey St. which was formally the activities center and hotel for the community. The executive director of the Park District has recommended this parcel could be a 140 room hotel which would support more tourist activity at the renovated golf course, BUT this use would not be as beneficial to the residential community in the area as compared to a community center. Over 1,300 nearby condo units were built in the Boca Teeca area without any meeting or social facilities within their own property, so there is a need within the area to have a community center instead of a hotel that will not support the residential community. There have been numerous hotels built in the NE section of the city over the past 20 years that could support the tourists who may want to use the renovated golf facilities.
3) Consulting study by the National Golf Foundation will be presented at the joint meeting on 9/26 and will be reviewed at the 9/25 meeting of the Park District. This economic study will be expected to provide a positive forecast of the financial benefits of the proposed renovated golf course. This same consulting company provided a similar study to PB county prior to the development of the highly successful Osprey Point golf course located at the western end of Glades Rd.
4) An independent written appraisal on the Ocean Breeze property will be provided to the District commissioners and the city council members. Past criticism of the purchase of the property was the $24 million price which was higher than the estimated value of $5-8 million. By comparison the city has numerous offers for their smaller golf course property for over $72 million which would be developed after the acquisition. The net impact of these 2 transactions would be a benefit to the taxpayer of over $30 million and a new golf course located WITHIN the city.
Hope to see a lot of Boca Raton residents at these 2 meetings to voice your comments on these issues, but if you are not able to attend, then please send your comments via email to the Park District & City Council members at their email addresses located on their respective web sites.
The Beach & Park District will have extensive planning discussions on the plans for the property at their 9/25 meeting at 5:15pm at their Sugar Sand Park offices on S. Military Trail. The big issues are:
1) Current Deed Restriction - the Park District has obtained a legal opinion that indicates that the District would not be subject to the current deed restriction which requires the property to only be used as a golf course. At numerous meetings with city officials there have been suggestions by several elected officials that some of the property could be used for other purposes in the future.
2) Use of the approximate 4 acre parcel located on the SE corner of NW 2nd Ave. & Jeffrey St. which was formally the activities center and hotel for the community. The executive director of the Park District has recommended this parcel could be a 140 room hotel which would support more tourist activity at the renovated golf course, BUT this use would not be as beneficial to the residential community in the area as compared to a community center. Over 1,300 nearby condo units were built in the Boca Teeca area without any meeting or social facilities within their own property, so there is a need within the area to have a community center instead of a hotel that will not support the residential community. There have been numerous hotels built in the NE section of the city over the past 20 years that could support the tourists who may want to use the renovated golf facilities.
3) Consulting study by the National Golf Foundation will be presented at the joint meeting on 9/26 and will be reviewed at the 9/25 meeting of the Park District. This economic study will be expected to provide a positive forecast of the financial benefits of the proposed renovated golf course. This same consulting company provided a similar study to PB county prior to the development of the highly successful Osprey Point golf course located at the western end of Glades Rd.
4) An independent written appraisal on the Ocean Breeze property will be provided to the District commissioners and the city council members. Past criticism of the purchase of the property was the $24 million price which was higher than the estimated value of $5-8 million. By comparison the city has numerous offers for their smaller golf course property for over $72 million which would be developed after the acquisition. The net impact of these 2 transactions would be a benefit to the taxpayer of over $30 million and a new golf course located WITHIN the city.
Hope to see a lot of Boca Raton residents at these 2 meetings to voice your comments on these issues, but if you are not able to attend, then please send your comments via email to the Park District & City Council members at their email addresses located on their respective web sites.
Wednesday, August 2, 2017
Wells Fargo Bank is a Poor Neighbor
As the owner of the over 200 acre property formerly operated as the Ocean Breeze golf course, Wells Fargo bank has not been maintaining the property in compliance with city code and there have been numerous code violations over the past year. Most recently they were cited for not mowing the weeds which had reached up to 2 feet in height before they had a local residential landscaper to use their small 32 inch mowers to slowly mow the weeds. After over 2 weeks of mowing they resolved 90% of the problem, but with the rain and heat of our growing season they will need to start mowing again if they are going to be in compliance with city code. Wells Fargo continues to be an IR responsible neighbor as clearly illustrated by driving along Jeffrey/Clint Moore Rd. East of I-95 & seeing how they have allowed the property to become overgrown with vegetation.
It is recommended that residents call the city council (561-393-7708) to let them know how poorly Wells Fargo is maintaining the property. Residents who want to complain about this problem to the leadreship of Wells Fargo should email their board of directors at: boardcommunications@wellsfargo.com
Considering the poor business practices of Wells Fargo bank that have been well documented in the media over the past year, maybe it should not be surprising that they are a poor neighbor. But, residents should consider not doing business with this irresponsible financial institution since there are many banks that are available locally that are much more responsible than Wells Fargo.
It is recommended that residents call the city council (561-393-7708) to let them know how poorly Wells Fargo is maintaining the property. Residents who want to complain about this problem to the leadreship of Wells Fargo should email their board of directors at: boardcommunications@wellsfargo.com
Considering the poor business practices of Wells Fargo bank that have been well documented in the media over the past year, maybe it should not be surprising that they are a poor neighbor. But, residents should consider not doing business with this irresponsible financial institution since there are many banks that are available locally that are much more responsible than Wells Fargo.
Tuesday, July 11, 2017
High Weeds Violate City Code
It is time to call city council & complain about the high weeds on the Ocean Breeze golf course since there are many weeds over 12 inches high which violates the city code requirements. Call 561-393-7708 to complain today.
If there is no cooperation by the city council on lending the required funds to the Beach & Park District for their acquisition of this property, then let's give these elected city officials a taste of the complaints they can expect to receive on an ongoing basis In Perperuity!
If there is no cooperation by the city council on lending the required funds to the Beach & Park District for their acquisition of this property, then let's give these elected city officials a taste of the complaints they can expect to receive on an ongoing basis In Perperuity!
Sunday, June 18, 2017
NOT A DONE DEAL!
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.
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.
City of Boca Raton – 561-393-7708
Mayor Susan – Haynie shaynie@ci.boca-raton.fl.us
Deputy Mayor Jeremy Rodgers – jrodgers@ci.boca-raton.fl.us
Councilmember Andrea O’Rourke – AORourke@ci.boca-raton.fl.us
Councilmember Scott Singer – ssinger@ci.boca-raton.fl.us
Councilmember Robert Weinroth – rweinroth@ci.boca-raton.fl.us
Deputy Mayor Jeremy Rodgers – jrodgers@ci.boca-raton.fl.us
Councilmember Andrea O’Rourke – AORourke@ci.boca-raton.fl.us
Councilmember Scott Singer – ssinger@ci.boca-raton.fl.us
Councilmember Robert Weinroth – rweinroth@ci.boca-raton.fl.us
Monday, May 22, 2017
Beach & Park District Agrees to Buy Ocean Breeze
At today's meeting of the Greater Boca Raton Beach & Park District the commissioners voted unanimously to execute the contract to buy the over 200 acres known as the Ocean Breeze golf course. The district commissioners also voted unanimously to start the search for a golf course design firm via an RFP process.
Golfers and residents are looking forward to this process moving along with the financing coming via an agreement with the city council which is still prnding approval. The contact closing is scheduled for late October with possible extensions nil the end of January 2018. This process could be expedited if the city would approve the financing utilizing plentiful city reserves which are currently earning a measly 2% or less in savings accounts/certificates.
Thanks to Keep Golf In Boca representatives for their continued support of this important project which benefits the entire city.
Golfers and residents are looking forward to this process moving along with the financing coming via an agreement with the city council which is still prnding approval. The contact closing is scheduled for late October with possible extensions nil the end of January 2018. This process could be expedited if the city would approve the financing utilizing plentiful city reserves which are currently earning a measly 2% or less in savings accounts/certificates.
Thanks to Keep Golf In Boca representatives for their continued support of this important project which benefits the entire city.
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