SR 05:255 - Laserfiche WebLink

Recommended Long-term Financial Policies Staff is also recommending the establishment of long.term financial policies that are consistent with those of the Water and Sewer Enterprises, Once the golf course is able to pay all operating costs, including full debt service, the long.term policies would become effective, The primary difference between the interim goals and the long. term policies is that the latter places an emphasis on financial independence and sustainability, Both the recommended interim goals and the long. term policies are shown in Attachment E, OPENING DEDICATION AND OTHER ISSUES Plans are currently underway for the formal dedication and grand opening tournament, scheduled for Saturday, November ), 200), The opening will include a ribbon cutting, food sampling, tours of the clubhouse and pro shop, and a tournament for invited guests. Callippe Preserve is scheduled to be open to the public beginning the week of November 7, 200). Tee Time Reservation Policy As an added benefit to residents, tee time reservations for daily play will be accepted up to I' days in advance of the desired playing date, Non.residents may make reservations up to 14 days in advance, Requests for play may be made in person, by phone, or through the automated system in accordance with the golf course operating hours, Junior Programs The City of Pleasanton and CourseCo are committed to providing a quality golf program for golfers under the age of 18, Although it is still being developed for Callippe Preserve, Attachment F is a sampling of the types of programs and amenities currently offered to juniors at existing golf courses managed by CourseCo, FISCAL IMPACT The City's projected cost for the golf course and open space project is currently ~34j million, a reduction from the ~3,.3 million reported in March 200" This amount may be further reduced depending on the number of existing and future homeowners in the Happy Valley area that elect to connect to the City water and sewer system, and pay a prorated reimbursement of the infrastructure cost. The projection allows for a contingency to address the anticipated Ferma construction claims; however, the final negotiated/arbitrated claims amount may not be known for some time, Although the 20.year pro forma indicates that annual operating costs will be fully funded by revenues of the golf course, the General Fund will initially need to subsidize the annual debt service payments, Revenues are projected to increase over time as Callippe SR 0):2)) Page 11