I’m very happy, and proud, to announce that the $2.9 million loan has been funded and we have moved all our accounts to Banner Bank. By paying off the existing $1.3 million loan, and extending the term to 15 years, we were able to lower our monthly mortgage payments by about $3,000. The $1.6 million proceeds will be reinvested in our facilities; here’s some of the projects: General maintenance to our clubhouse exterior that has dry rot and needs painting badly. Resurfacing portions of the parking lot and crack sealing and striping the entire parking lot! Asphalting the maintenance yard around the buildings in order to protect our new equipment from dust and gravel. A new HVAC unit was installed at the pool Café in order to make it bearable for the employees during the heat of the season We expanded the pro shop office so that Tracy has a private office and the rest of the team has room to work and will be installing new carpet and painting the entire pro shop when we close in January. We are in the process of adding shade sails to the bocce courts and have ordered another 4 large umbrellas for the terraces. We have ordered 76 new irrigation controllers and 324 new sprinkler heads for the greens surround. We will be doing more tee and bunker renovations on both the Rogue and the Oaks course in the fall. We will be renovating the ladies restroom at the tennis center and adding a water bottle dispenser at the court level. We will be buying a new stationary bike for the fitness center and looking at other equipment to enhance our programming. All those projects are about $1 million so there is still roughly $600,000 left in reserves which the Board, and I, will be fiscally prudent spending the remainder. We will be working with the committees on future uses of the money so if you want something, come to a committee meeting. 10
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