The Cro$$ings at Carlsbad

Barbara Henry in the North County Times looks at the swollen price tag of that Carlsbad muni course under construction. It's up to $73.8 million.

Comments

[Jimmy]

Geoff, how do we get ourselves involved with this project as consultants? You can pass me off as your assistant, hell I don't care. They've got deep pockets, and therefore they need us.
:o)

[DBH]

A 70 million dollar, carts only 'muni'? That's some pretty raified air they're breathing in North County.

[DBH]

Sorry, typo above...meant rarified...

[ian andrew]

They only want to recoup 46.6 million - no sweat - that's only 777,000 rounds at the full $60. week-end rate. Great. Oh - it costs money to maintain the course - that's not factored in - damn - and there's monitoring costs and other overhead issues - crap - what will that cost?

I may love golf and believe strongly in the efforts to grow the game - but not at that cost.

[Fishman]

Absurb. A $73M golf course? Pay off? NFW-- not in a toad's eye would a $73M investment pay back the public, anywhere, anytime. Where do these guys come up with the math? Take $100 a round over a year of 60,000 rounds = $6M. Deduct $600,000 for maintenence (goat ranch in the area), deduct management at $600K a year (local muni in Idaho), and you have $4.8M in revenue. Take $4.8M (optitistic return) and and apply it to to the building cost of $73M and you are talking about a 75 year payback, if nothing goes wrong. 75 freaking years! And that is at half the revenue projection of the city business plan, which puts it up to 150 years. Imagine, in the next 150 years, you will get the money bank, if everything goes perfectly, and then you start to make money. What a business plan! Take that to your banker. 150 years from now I will start to make money. Oh, did I forget the interest? At a modest 7% a year, it adds in $500,000 a year. Another $7,500,000 more or less. Maybe the taxpayers could pay it off in 200 years? God, what a country!