According to St. Johns County, which owns the St. Augustine, Fla., club, the property is valued between $2.5 million and $6 million, and the County Administrator said the county is not interested in selling. The potential buyers want to revamp the facility, repairing the golf course and adding cart paths.
A group of investors has offered to buy the county-owned St. Johns Golf Club for $1 million, the St. Augustine (Fla.) Record reported.
But County Administrator Michael Wanchick said the offer is nowhere near what the county believes the St. Augustine, Fla., property is worth, and is not interested in selling it. “And I wouldn’t recommend that to the County Commission,” Wanchick said.
Jesse Dunn, assistant director of the office of management and budget, said the book value on the property is about $6 million. Jerry Cameron, assistant county administrator for community services, said the land has been valued at between $2.5 million and $3.5 million. Wanchick said the county cannot sell an asset below fair market value, the Record reported.
Rand Middleton, of St. Johns County, said he and other investors offered to pay $1 million for the course. He said he believes the county’s estimate of the course value is off, the Record reported.
“That’s make believe,” he said. “They don’t base it on anything.”
Middleton said the course has lost money annually. He said the group plans to revamp the facility if they get it. They would repair the course and add golf cart paths, among other things, the Record reported.
“Simply put, there’s severe drainage issues,” Middleton said.
Wanchick said the course nearly pays for itself in terms of operation. Also, it is an active recreation facility for older people, who pay taxes. And there are homeowners around the golf course. He said he believes the county owes something to them, the Record reported.
“There’s no urgency to sell the golf course,” Wanchick said.
However, he said if the county does not get more revenue, the county could consider selling facilities such as the golf course or equestrian center, the Record reported.
Cameron said he was introduced to Middleton a couple of years ago. Since then they have had conversations, and Middleton came forward with an offer. He said that in order to sell the golf course, the County Commission would have to go through a procedure, including declaring it as surplus and allowing others to make an offer, the Record reported.
Middleton said he has scheduled a meeting with the county’s land management department. He said he had been in the golf business “forever” and is affiliated with Green Golf Partners, the Record reported.
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