Oakridge Country Club

Do Not Recall (cart included), played on Sunday, January 2006 at 6am

The Oakridge Country Club golf course is under new ownership. Larry Galloway and Mike Ussery are asking neighborhood residents to pony up a gift to them of $400,000.00 to reopen the golf course as a daily fee course. The letter they sent out can be found here:

http://www.realscam.com/f16/oakridge-country-club-garland-texas-larry-galloway-mike-ussery-2226/#post52052

Oakridge Country Club Garland Texas / Larry Galloway / Mike Ussery

FORMER OAKRIDGE COUNTRY CLUB PROPERTY Concept Plan – February 2013

Historical Perspective

Oakridge Country Club experienced moderate success in the late 1980's and 1990's as a private country club operation under multiple owners. In 2001 the property was purchased by an affiliate of IRI Golf and began an operational decline which led to closure of the golf course and ultimate lender foreclosure in late 2010. The golf course and club served as the hub of the Oakridge community for almost thirty years, fostering strong property values and community pride. Since the closure of the golf course, property values have declined and an air of substantial uncertainty has existed within the community.

In October 2012, Duck Creek Golf, LP was formed and purchased the former golf course and club property from Hillcrest Bank. Duck Creek Golf, LP is an affiliate of Austin based golf course investment and management company, OnCourse Strategies, in partnership with Larry Galloway, a Dallas area resident and golf industry veteran. The property was purchased with the intent of analyzing the feasibility of revival of the golf course operation or potential portional resale of the property.

Analysis Summary

Through months of physical plant evaluation and mar ket study, Duck Creek Golf, LP has determined that there is feasibility potential in the establishment of a mid-market daily fee golf course operation on the property. There appears to be no economic viability to revival of a full service private country club. In order to focus on daily fee golf operations, the ownership group intends to sell the swim and tennis facilities to someone interested in that business operation or for a compatible repurposing of that portion of the property. Additionally, a daily fee golf operation requires a less extensive clubhouse facility than the total complex available, thus options are being explored for the possible lease of a portion of the clubhouse to a banquet and catering operation.

Since the clubhouse suffers from water damage which occurred in early 2011, plus the deterioration of non-use for two and half years, there are extensive repairs necessary to the building. One level of repairs would be required to ready the building for a daily fee golf operation and another level would be required to make the building fully operational for a banquet, dining or catering opera tion. The golf course has reasonable coverage of turf which can be cultivated and revived in most playing areas. However, the greens must be replanted and extensive work is required to renovate or remove golf course bunkering. Substantial cleanup of fringe areas of the golf course along with extensive repairs to the irrigation system will also be required.

Forward Direction

Provision of a quality daily fee golf course operation is anticipated, which requires less physical plant than a country club operation. Conversations are underway with several parties interested in purchasing the swim and tennis facilities along with a portion of the paved parking area. Efforts will be made to secure a viable purchaser of that property by April. Discussions have also been held with banquet and catering operators and those will continue. If an acceptable option can be identified, then an arrangement will be made with that operator and the full clubhouse would be repaired for dual use. If no acceptable option comes forth, then only a portion of the clubhouse would be repaired over the next four to six months for use in a daily fee golf operation.

With the Spring bermuda grass growing season approaching, golf course turf restoration would begin in April. Ground temperatures would not allow replanting of greens turf before early to mid-May with a 60-75 day growing period required to reestablish putting surfaces. Bunker work and irrigation repairs would be completed between April and June. Additional work would be required on the driving range and practice putting green areas. A fleet of maintenance equipment would have to be put in place to begin golf course restoration and an aggressive project plan would produce a playable golf course by mid-summer 2013.

Project Criteria

The viability of a quality daily fee golf operation is predicated on a low property investment basis and efficient operating structure coupled with development of a strong customer base and revenues. These components are vital to establishment of a long term, healthy golf course operation. The symbiotic relationship between the golf course and surrounding residential community is also a very important component to their mutual success and vitality. For the golf course to be fiscally sound, the community must support it, which in return leads to enhancement of the community reputation, pride and value.

Duck Creek Golf, LP has made initial cash investment to acquire the property and bears the ongoing maintenance and holding costs. This ownership entity expects to recover some investment capital through sale of the swim and tennis property and anticipates making substantial additional investment in golf course and clubhouse repairs and renovations. However, to proceed with revival of the golf course and to complete the project with a comfortable investment basis, participation by the community is necessary. The community has suffered material impact to property values over the past few years and would conversely experience favorable value enhancement with a renewed golf course operation. Thus a viable golf course should be of vital importance to both the community and property owner.

Oakridge is a community of almost 1200 homes with 400+ of them backing up to the golf course property. To facilitate the golf course revival, Duck Creek Golf, LP needs a $400,000 collective capital contribution from the Oakridge community. A community representative will be asked to work with residents to secure commitments for and collect these funds to be held in trust. This community fund would be paid over to Duck Creek Golf, LP only after the golf course is reopened for operation, but would be firmly committed before renovations begin. The funding would constitute a good faith investment by the community in restoration of the golf course and enhancement of neighborhood property values. No ownership or membership benefits would be vested in the contributing residents as a result of the community funding.

With a commitment of community funding, Duck Creek Golf, LP would proceed with golf course and clubhouse renovations as outlined above with the comfort that it would have a favorable investment basis in the property. Again, given the high cost of operating a golf course and the many associated risk factors, a low ownership basis in the property with minimal debt service is paramount to financial stability. Under this plan, the golf course would reopen by mid-summer as a daily fee golf course and grill operation offering daily fee pricing as well as a variety of annual golf memberships. With the anticipated cost basis and given the experience and expertise of the ownership principals, the likelihood of immediate and sustainable operational success is very high.

Summary Duck Creek Golf, LP principals will meet with Oakridge community leaders and residents regarding details of the project, with expectation that the community leaders would determine the means and process for the community funding. A bilateral specific performance agreement would be structured with community funding to be in place by March 31, 2013.

The concept herein is for information and discussion purposes only and does not constitute a formal ag reement or obligation of any parties mentioned. Further discussion and planning will be required to facilitate action or an agreement.

For Discussion & Additional Information Contact:

J. Michael Ussery Larry Galloway

ussery@oncoursestrategies.com

lg9295@gmail.com

512-347-1244

972-832-1573

Last edited by Soapboxmom; 04-13-2013 at 04:13 PM.

Guest (cart included), played on Wednesday, July 2010 at 6am

We played for free, they were trying to get interest in the course. Some of the greens were bad and to make matters worse they had a couple of greens where there was good grass on part of the green but they chose to put the pin in a beat up area, thats just dumb. Course needs senior tees if they want to get senior play during the week. To many forced carries on tee shots. Also they need some new marketing direction, hint for seniors 14 holes with water is not a big selling point. This course, Los Rios and the late Shores are a lot alike. Over priced and tricked up. Not senior friendly for length and forced carryies.

Member (cart included), played on Tuesday, January 2010 at 10am

The slumlord of golf, IRI, has allowed the course to deteriorate badly due poor management and lack of maintenance. What was once a very good course has become less than adequate.

Member (cart included), played on Sunday, June 2009 at noon

Course is getting in better shape each day. If it stays watered the greens should be pretty nice come mid summer and fall.

Member (cart included), played on Sunday, July 2008 at 6am

It's ok for what it is.