Saturday, November 15, 2008

Provision Added – Countryside Golf Club

A provision was added to the operating agreement between the City and Meadowbrook Golf Group, Inc. At the October 23rd City Council meeting an Ordinance was adopted to extend Meadowbrook’s operation of Countryside Golf Club for a period of one year. The agreement was effective on November 1, 2008.

The modification was as a result of the Roanoke Regional Airport Commission requesting that the extension include a provision that the Commission can terminate the lease with the City under certain conditions. This would result in the termination of the Operating Agreement between the City and Meadowbrook. The Airport Commission owns a portion of the property containing fairways of the golf course. Now that the City owns the golf course, the City is responsible for negotiating the lease with the Airport Commission. Meadowbrook agreed to this provision with consequences.

The provision reads in part – The parties acknowledge that any financial obligations between the Owner of the Airport Commission relative to the Lease being negotiated between the City and the Airport Commission are the responsibility of the City. The parties further acknowledge that any obligations to alter, modify or improve the property subject to the Lease being negotiated between the City and the Airport Commission are the responsibility of the City. If such Leased property becomes no longer available to the City, the City will make a payment to Meadowbrook. Payment ranges from $20,000 to $170,000 depending on the month of termination. Council unanimously agreed to the provision.

Posted By Valerie Garner

Categories: Finance

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