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Council Proceedings <br />City of New Brighton <br />March 22, 1977 <br />Richard Johnson, 1707 19th Avenue NW, stated the plan <br />should be forwarded to the Environmental Quality Commission <br />for their review. <br />Jack Moore, 1748 20th Ave, stated he would like to see the <br />golf course remain. He stated that he did not believe the <br />course should be bought for its own sake unless it proved <br />economically viable. He noted that the course had <br />aesthetic value and was very attractive. He added this was <br />a kind of course experts were recommending cities <br />construct, adding that the area does not need an <br />18 -hole champion golf course. He noted that land value <br />would continue to increase. It would never be as cheap <br />as it is today. <br />Jerry Harty, 2250 Greenview Drive, stated he was <br />representing the newly formed North New Brighton <br />Homeowners Association. He stated that their <br />Association had looked at the financing feasibility of the <br />City acquiring the course and that the executive committee <br />of the Association was very willing to meet with the <br />administration to review their information. <br />He stated that they had reviewed the Roseville and New Hope <br />municipal golf courses and had reviewed the financing <br />aspects with Miller Schroeder Municipal Bond Brokers. <br />Mr. Clark, representing Miller Schroeder Municipal Bond <br />Brokers, stated he lived in New Hope and was familiar <br />with their municipal course and it had paid for <br />itself. He stated he would expect rounds played to <br />increase under city management and that he would be happy <br />to discuss his information with the City staff. <br />Councilman Senden asked whether Mr. Clark would be more <br />specific in terms of the financial aspect. <br />Mr. Clark stated that the kind of financing being looked at <br />would be G.O. Revenue bonds that would not affect the <br />City's debt limits. He stated he did his financing <br />projection based on 20 year bond at 6% interest. <br />Councilman Werdouschegg questioned whether in Mr. Clark's <br />judgment the course would be economically viable under <br />City ownership. <br />Mr. Clark stated he felt it would be. <br />Councilman Werdouschegg asked Mr. Clark whether his projections <br />were based on golf course receipts only <br />Mr. Clark stated they were. <br />!! <br />