The consulting company hired by the City of Gulf Breeze to audit Tiger Point Golf Club has rejected buying it, and looming capital costs may complicate the municipality’s latest plan to hand off financial responsibility through a lease to another firm, Integrity Golf in Orlando.
Calculations by the Private Club Associates in Georgia, which did a 60-day study of the money-losing club’s problems and potential, finished in June, indicate Tiger Point Golf would require $1,253,000 in capital improvements to become profitable. Even with that upfront investment, the PCA analysis indicates, Tiger Point wouldn’t allow a new operator such as Integrity Golf to recoup its capital commitment for about seven years. Then it would return an estimated $400,000 or so annually.
Gulf Breeze officials are seeking a 10-year lease with Integrity Golf, which didn’t return phone calls for comment on Monday.
Read the full story in the Aug. 6 edition of Navarre Press or subscribe online here.