COMMENTS AGAINST THE SALE OF WALTER E HALL GOLF COURSE This is a direct quote from the SDAT Presentation to City Council Recommended Menu of Options held on April 2, 2014: “We suggest studying a partial or full sale of the Walter E. Hall golf course. The Golf enterprise fund continues to be burdened by its $7+ million debt to the general fund and is unable to sufficiently fund reinvestment in equipment and courses’ renovations and improvements. Though golf’s impact on the general fund operations budget is minor, the $7+ million debt is counted as part of the general fund reserve. It needs to be paid back, sooner rather than later.” COMMENTS Parks Department raised greens fees at Walter E Hall in 2014 which were not based on cost of operation but rather and an average using Lynnwood Golf Course and Harbor Point Golf course fees. Fees were increased by $2 per round. Most golfers understand there is a cost to operating a golf course. Raising of green fees are tolerable if they are within reason. Walter E Hall and Legion Memorial both average between 55-60,000 rounds of golf per year Several local high schools utilize Walter E Hall for their golf teams; Boeing has a league that plays weekly; there are active Men’s and Women’s Golf Clubs based at Walter E Hall Walter E Hall has averaged a gross profit of $0.738 per round in the last five (5) years Legion Memorial has averaged a gross profit of $0.702 per round the last five (5) years Since 2009 $590,000 has been paid on the Principal of the $7.8 million loan for renovations to Legion Memorial Golf Course. Since 2009 $1,502,000 has been repaid in the Interest of the $7.8 million loan for renovations to Legion Memorial Golf Course. City of Everett is reportedly proposing to change remaining golf course property into a nine (9) hole executive course. Golfers are not in the habit of playing executive courses. This would become a further burden on the city’s financial situation. The city of Kent has recently sold its par 3 course for development due to lack of play. The following pages are from the Everett City Council presentation on “The City’s Structural Deficit; Study Options”, presented on April 30, 2014.
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COMMENTS AGAINST THE SALE OF WALTER E HALL GOLF COURSE
This is a direct quote from the SDAT Presentation to City Council Recommended Menu ofOptions held on April 2, 2014:
“We suggest studying a partial or full sale of the Walter E. Hall golf course. The Golf
enterprise fund continues to be burdened by its $7+ million debt to the general fund and is
unable to sufficiently fund reinvestment in equipment and courses’ renovations and
improvements. Though golf’s impact on the general fund operations budget is minor, the
$7+ million debt is counted as part of the general fund reserve. It needs to be paid back,
sooner rather than later.”
COMMENTS
Parks Department raised greens fees at Walter E Hall in 2014 which were not based on cost
of operation but rather and an average using Lynnwood Golf Course and Harbor Point Golf
course fees. Fees were increased by $2 per round. Most golfers understand there is a cost
to operating a golf course. Raising of green fees are tolerable if they are within reason.
Walter E Hall and Legion Memorial both average between 55-60,000 rounds of golf per year
Several local high schools utilize Walter E Hall for their golf teams; Boeing has a league that plays
weekly; there are active Men’s and Women’s Golf Clubs based at Walter E Hall
Walter E Hall has averaged a gross profit of $0.738 per round in the last five (5) years
Legion Memorial has averaged a gross profit of $0.702 per round the last five (5) years
Since 2009 $590,000 has been paid on the Principal of the $7.8 million loan for renovations
to Legion Memorial Golf Course.
Since 2009 $1,502,000 has been repaid in the Interest of the $7.8 million loan for
renovations to Legion Memorial Golf Course.
City of Everett is reportedly proposing to change remaining golf course property into a nine
(9) hole executive course. Golfers are not in the habit of playing executive courses. This
would become a further burden on the city’s financial situation. The city of Kent has
recently sold its par 3 course for development due to lack of play.
The following pages are from the Everett City Council presentation on “The City’s Structural
Deficit; Study Options”, presented on April 30, 2014.
37
-0.14
1.97
0.41
1.49
-0.04
0.22
1.18
0.42
1.21
0.48
-$0.50
$0.00
$0.50
$1.00
$1.50
$2.00
2009 2010 2011 2012 2013
WEH LMGC
Everett Golf FundNet Income per Round
41
0 0
125140 155
170
431
316
254
183158 160
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
2008 2009 2010 2011 2012 2013
in 000’s
Principal Interest
Everett Golf FundDebt Repayment - Actual
42
185200
215230
245
146 143 139 134 130
$0
$100
$200
$300
2014 2015 2016 2017 2018
Principal Interest
Everett Golf FundProjected Debt Repayment
in 000’s
44
WEHGC – Potential Surplus Areas
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