Fiscal Note
The cost for the project planning, design, and construction for improvements of the Glenway Golf Park Clubhouse will be paid for using private donations. The estimated value of this work is approximately $250,000. The City will, as owner of the improvements, add the value of the construction as an asset to the City’s Golf Enterprise Fund’s balance sheet.
Overall, there is no major impact to revenue expected within the Golf Enterprise Program in 2022 as a result of this project. The adopted programming plan will minimally reduce tee times available, but programming in the improved Clubhouse of the Glenway Golf Park is expected to generate additional revenue over time.
The plan includes significant improvements to accessibility of the clubhouse and provides the ability for greater flexibility of food, beverage and merchandise offerings. In addition, a portion of the donation may be used to provide investments into updated, energy efficient building components, such as plumbing infrastructure, refrigeration units, windows and potentially insulation.
Similar to 2022 projections, future financial impacts are influenced by numerous factors. Staff anticipates modest revenue growth with the project and estimates costs to maintain the clubhouse will be below current levels. In total, staff estimates that future financial results from the project should have a net positive impact of between $20,000 and $60,000 per year. The improvements should last, if maintained appropriately, for well over 25 years.
Title
Authorizing the Mayor and City Clerk to enter into a Donation Agreement and Construction Agreement with the Madison Parks Foundation for the Privately Funded Improvement of the Glenway Golf Park Clubhouse.
Body
WHEREAS, the Glenway Golf Course first opened for play in 1927 and, while consistently popular and profitable, has deferred capital needs that had not been met for decades; and,
WHEREAS, on June 18, 2019, by RES-19-00456, Legistar File No. ...
Click here for full text