Shores Golf Course City of Rockwall Press Release
The City of Rockwall has taken legal action against the Shores Golf Club under a lease agreement regarding compliance with lease provisions. City officials want to answer questions the public may have concerning this situation, and they want to provide residents information and the history about golf course operations as they relate to the City.
The situation centers around upkeep of the golf course under an agreement between the owner of The Shores Country Club, I.R.I. Golf Group, L.L.C, and the City of Rockwall in a Lease Agreement entered into in 2001, which includes minimum standards for maintenance of the golf course. There have been numerous complaints from Shores’ homeowners and golfers concerning condition of the golf course in the last several years, and the City recently held a Town Hall meeting allowing residents to discuss their concerns.
Portions of the golf course – primarily parts of the back nine holes – are on land owned by the City of Dallas, who entered into various agreements with the City of Rockwall and the owner of The Shores Country Club making the land available for use as a golf course. The lease agreements regulate nine full holes on the course and portions of another four. The remaining course and the club house and other amenities are on private land owned by the owner/operator of The Shores Country Club.
As a result, the City of Rockwall has no ownership in the public land and no oversight over the general business practices of the Shores’ owner.
Multiple inspections were made by the City beginning in 2001 to evaluate the condition of the golf course, which were often made by an independent, qualified outside consultant. In the last five years, the City has issued four formal default notices under the Lease Agreement, and a lawsuit was filed by the City in 2006 regarding the results of one inspection. It was settled in 2007, resulting in the club owner investing more than $250,000 in the course irrigation system.
Following a January inspection, the City sent a default letter to the Shores’ operator for failure to comply with certain maintenance and other standards outlined in the lease. The non-compliance issues were not addressed adequately by the operator and a notice of intent to terminate the Lease Agreement was sent to the operator and the mortgage lender. This remains an on-going process.
The revenue the City derives from the golf course is based on a fixed minimum rent and possible percentage rents if revenues from golf operations exceed certain thresholds. The minimum annual rent payment today is $50,000, which was instituted in 2009 with an amendment to the Lease Agreement that approved by both parties. Prior to that, the payment was approximately $25,000.
It is the goal of the City to have a professional, well operated and functional golf course at The Shores. If you have questions or if you would like to discuss this matter in more detail, you can contact members of the City Council: Mayor Bill Cecil (972-771-3362); Matt Scott (469-371-8016); Margo Nielsen (972-754-7729); Cliff Sevier (214-908-5423); Glen Farris (972-771-1444); David Sweet (972-365-1775); Mark Russo (214-793-2923).
Rockwall Custom Home on Lake Ray Hubbard
If you are looking for homes for sale in Rockwall Texas then you don’t want to miss This Custom home. It has approximately 5800 sq ft. on three lots located in Lakeside Village with leased take line on Lake Ray Hubbard, 30 ft. soaring entry with 15 Ft. custom entry doors with art design etchings, complete gardens, patio, outdoor kitchen on the lake with creek area so this Rockwall home is very secluded, approved for a dock right on Lake Ray Hubbard, 3 bedroom, 3 1/2 bath with full gym, art studio, and home office over looking the lake, balcony overlooking the lake with all custom wrought iron work throughout, fashioned after the iron work at the renowned Phil Brook Art Museum in Tulsa, OK. Fully foamed insulating application so utilities have never been more than $300/mo. Four car garage and ample parking and possible guest house purchase can be negotiated. This is one piece of Real Estate you don’t want to miss.
For more information on this beautiful home contact Kathleen Morrow at 971-772-1111
The Harbor Files Chapter 11, City of Rockwall Press Release
Press Release from the City of Rockwall, March 9th, 2010
The City of Rockwall has been notified that one of the companies associated with the Harbor development, Mariah Bay Leasing Corporation, has filed for reorganization under Chapter 11 of the federal Bankruptcy Code. This property is located in the Harbor Tax Increment Financing (TIF) District that was created by the city to fund the public improvements the city constructed at the Harbor, including roads, utilities, spray fountains, walkways and other public enhancements located along the lake edge.
The City issued debt to pay for the public improvements and that debt is paid for through the property and sales taxes that are collected within the TIF.
This property owner is one of a total of 38 property owners that pay property taxes into the TIF, which incorporates a total of 113 acres. The total property taxes owed to the city under the TIF equals $ 529,419. This number includes taxes collected by Rockwall county and pledged to the city for the TIF. The total collected in the TIF to date equals $300,050. The Harbor development, which includes this property owner as well as several others, has paid a total of $256,061. They still owe a total of $223,063, only a portion of which is owed by this particular company. Property taxes are still owed and payable even in the event of a bankruptcy. These dollars will be collected by the city. Sales taxes continue to be paid by the tenants and the businesses will continue to operate.
The developer, Rob Whittle has indicated that they have every intention of addressing their financing issues and come out of this in a stronger and better position. The city has every confidence that the long term prospects for the Harbor as a successful business development in the City of Rockwall are strong and this area will continue to be an asset to the community.