INTRODUCTION Following Member approval of Phase I of the Golf Course Master Plan (GCMP) in May 2025, Management was asked to conduct additional due diligence on Phase I and to evaluate the feasibility of integrating new projects with the work scheduled to occur between April 2026 and year-end. Specifically, Management was asked to assess the addition of a Range House/Teaching Facility at the new Driving Range that would integrate the amenities and services currently provided at the 7/11 building with new state-of-the-art teaching facilities. In addition, we were asked to develop plans for a new Starter Shack and to research the potential creation of an Event Lawn between the Clubhouse and 9 South. Management has now completed design development for the above mentioned projects and is confident that, subject to community approval, the Range House/Teaching Studio and Starter Shack can be fully integrated into Phase I of the GCMP. In parallel, Management entered into contract negotiations with the contractor responsible for Phase I of the GCMP. Through these negotiations, and following the completion of the above mentioned due diligence process, it became evident that the originally approved Phase I project is underfunded. WHY NOW By integrating these projects with the work that is already planned to take place this summer, we will minimize the impact on the Member experience during the build-out. We will benefit from economies of scale by coupling these projects to the already approved projects because there is a lot of overlap to perform the work in terms of both scope and the third parties who we need to engage. The completion of these projects will result in the area immediately surrounding the Clubhouse being completely updated and free from construction activity for the foreseeable future (with the exception of potential Fitness Center & Spa and Event Lawn projects).
GCMP Proposed Additions | 3
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