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<br />Item No: 5C <br />Meeting Date: 10/04/04 <br />Type of Business: Work Session <br />Administrator Review: _____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Mary Burg, Golf Course Manager <br />Item Title/Subject: Review Status of Golf Course Alternatives <br /> <br />Introduction: <br /> <br />Staff continues to review the status of the various golf course alternatives. The <br />cost/benefit of different development/non-development proposals are <br />discussed on an ongoing basis. Philosophical or quality of life considerations <br />are not addressed in this information. <br /> <br />Background: <br /> <br />Golf Course financial health is a priority. City staff is actively working to bring <br />solution. <br /> <br />Analysis: <br /> <br />The City Council authorized Community Development Staff to seek <br />additional information to determine the feasibility of development on the golf <br />course parcels. The golf course debt service and payment schedule may be <br />reviewed in Item 5A. <br /> <br />The golf course will begin to reduce the debt at the time in which we begin to <br />realize billboard revenue. The operating revenue projected in the upcoming <br />seasons has been estimated very conservatively. We do not anticipate any <br />decrease in play, as The Bridges of Mounds View has a well established <br />niche in the local golf market. Any increases in rounds played will have a <br />positive effect on the ability to repay debt. <br /> <br />Review of Golf Course: <br /> <br />1.) Billboard revenue: <br /> <br />This item is discussed as agenda item 5D. <br /> <br />2.) Cell phone towers: <br /> <br />The towers are presently not needed in the area, staff will continue to <br />look at this as an avenue of revenue in the future.