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Highlands Today

Buying Golf Course One Of Two Options

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By GARY PINNELL

Highlands Today

Published: January 28, 2009

SPRING LAKE - At this stage, lots of details are unknown about Spring Lake Improvement District's idea to buy the 36-hole Spring Lake Golf Resort.

However, said District Manager Joe DeCerbo, it's one of two options for dealing with storm water problems at the 3,359-acre subdivision along U.S. 98 between Sebring and Lorida. The district has been sued in the past for its inability to control storm water, which is collected in canals and drained into Arbuckle Creek. In the past, before that water got to Lake Istokpoga, it flowed over the land of ranch owner Sandra Tyrell.

Option one is to sell $6.2 million in 30-year bonds to build 60 new acres of water retention canals, said DeCerbo, quoting figures from Craig A. Smith Engineering of Pompano. The district would also survey and de-silt 60 acres of existing canals, build new water control structures and upgrade the pump station.

Each Spring Lake lot owner would be assessed an extra $168 annually for 30 years. However, that doesn't include land purchases or leases, DeCerbo said.

The golf course could be bought for $3.4 million, but DeCerbo's unsure how much money would be spent digging ponds and attaching them to the canal system.

Golf resort owner Michael Tellschow's letter to the board said the price would include all 36 holes, golf facilities, the driving range, and the villa management program. A sewer plant would be optional at $150,000.

DeCerbo said the course would be professionally managed. He's already received an offer from Kitson & Partners, who manage the course owned by Sun 'N Lake.

But what will happen if Spring Lake doesn't have enough money to keep up the golf course, asked C.H.Deeds, 7312 Honeysuckle Drive, in a letter to the editor. Would it be worth less than the district paid for it?

Tellschow said he sold the course two years ago for twice its current worth, but the deal fell through. He has been advised by Realtors that the price of golf courses is "soft" and getting softer in the current economy.

William J. Nielander, Spring Lake's attorney, has issued a letter of intent to purchase the course. SLID is in a 60-day due-diligence phase now, DeCerbo said. If the five-member board of supervisors chooses, it can sign a contract at the April meeting. The purchase could be complete by noon.

"This is huge news," said Deeds. "There are many questions on our minds. Why does Spring Lake Improvement District need more water retention ponds now that the flooding of private land to the east of Spring Lake has been resolved?"

"With the economy of our country in such dire condition, we don't need more taxes assessed because of a golf course," Deeds said.

DeCerbo said he will meet Feb. 4 with the engineers, who will outline how many holes of the golf course will be needed for water retention. However, DeCerbo pointed out, the 36 holes include acres of un-mown ground which could be used, perhaps by moving a green or the entire hole.

"Nothing is a done deal yet," DeCerbo said.

Highlands Today senior reporter Gary Pinnell can be reached at 863-386-5828 or gpinnell@highlandstoday.com

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