University Park Residents Look to Take Control of their Country Club

Although in the preliminary stages, a huge push is on for the residents of University Park Country Club to proceed with a purchase of the country club, and its golf operations, from the current owners.

I received a call yesterday from a client of mine who I sold a home to in University Park some 5 years ago. As a non golfer, he had a simple question. “Is this a good or bad deal for me ?”  Unfortunately, it’s too soon to give an accurate answer.

A Planning Group and a committee of local residents have already performed a great amount of due diligence. Club financials have been studied, and the condition of the club’s buildings have been assessed. An outside firm has been hired to independently evaluate all aspects of the club. But what’s missing are the expectations of the current owners.

How do they see the sale unfolding and at what price ? Those negotiations have yet to take place. Money is always the key. How much would each resident be obligated to contribute? Would non golfing residents be expected to contribute less than golfing households ? What would future assessment’s be, and for how many years  ? Resident control would obviously allow owners to chart their own future. There’s no doubt that residents have a far greater interest in property values and future sales. But the cost must be affordable. As I said to my client, let’s allow the process to continue. Only when all the details are revealed will the residents know what they are voting for.

Stay tuned. I will update the latest news about University Park here on our blog.

And as always go to our web site for more information on all  Sarasota golf course communities

Have a question ? Call me direct 941-993-3160  Patrick Doherty