Following the 60-day due-diligence period, prospective owner Michael Schumacher of BIZDOC Inc. plans to continue use of the golf course, pool, tennis courts and restaurant at the Rio Rancho, N.M., property. Schumacher expects to spend $700,000 remodeling the clubhouse and $1.5 million restoring the north nine holes, plus replacing the sprinkler system and resurfacing the tennis courts.
The prospective new owner of Chamisa Hills Golf and Country Club in Rio Rancho, N.M., expects to make improvements and allow both public and private access, the Rio Rancho (N.M.) Observer reported.
Michael Schumacher of BIZDOC Inc. spoke about his plans at City Councilor Mark Scott’s “First Fridays with Mark” citizen meeting on July 5. Schumacher doesn’t expect to find anything new in the 60-day due-diligence period that would make him change his mind about buying the club, the Observer reported.
“The strategy is coming together,” Schumacher said.
Schumacher plans to continue use of the golf course, pool, tennis courts and restaurant. He expects to spend $700,000 remodeling the clubhouse and $1.5 million restoring the north nine holes of the golf course, plus replacing the whole course’s sprinkler system and resurfacing the tennis courts, the Observer reported.
Sprinkler systems last 15-20 years normally, Schumacher said, and Chamisa Hills’ system is more than 30 years old. The club uses 27% more water than the average golf course in the Southwest, with substandard results, he added.
Schumacher plans to work on the course in nine-hole phases, starting with rehabilitation of the north course. He expects to have 18 holes open throughout the work, the Observer reported.
Changes will include soil rehabilitation and xeriscaping, but it probably won’t be a desert course, he said.
The goal is to offer memberships and allow the public to pay to use the club. Schumacher and his son would have an office at the club and one of them would be there every day, the Observer reported.
“This is my livelihood. This is what we do. We turn around companies and provide capital,” Schumacher said. BIZDOC has helped turn around more than eight companies, including Zanios Foods in Albuquerque, over the past 10 years, Schumacher said.
“He’s good at analyzing the needs of a company and knowing how to reconstruct it,” said Zanios Foods owner Jim Zanios.
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