Project Background and Rationale
The existing maintenance facility was designed and built in phases over several decades and is no longer adequate to meet the needs of the staff and the equipment required to maintain the various properties and facilities under our care.
As the organization has grown, so too has the need for improved facilities that can support an expanded workforce, provide better working conditions, and increase efficiency. The facility upgrades will ensure a safe, productive, and sustainable environment for all staff members.
A component of our Culture Statement notes that “since the founding of our Club in 1956, great care has been taken to build, improve, and maintain our extraordinary golf course as one of the finest in Florida.” Investment in this new facility continues that tradition.
Current issues with existing Buildings
The original main complex, built in 1972, was designed for a staff of 10 employees (we have 20 employees as of today) and has not been updated since.
There is inadequate office space, no designated employee parking, and no space for meetings or safety briefings.
Equipment (valued at $2.2 million) and materials are stored in open, unprotected areas that expose them to salt air, inclement weather, and debris.
There are no fire sprinkler systems in any of the existing buildings, and safety is a concern, particularly in high-risk areas like the mechanic's shop.
Employee amenities like restrooms, break rooms, and lockers have not been updated to accommodate the current number of employees.
Unprotected Club Assets Employee Breakroom & Lockers
Future GCM Facility
Current
Environmental Building
Phase Two
Phase Three
Phase One
Future GCM Facility in Phases
Phase One: May 2025 - April 2026
Administrative Offices
Staff Amenities
Mechanic Area
Phase Two: May 2026 - November 2026
Equipment Storage
Small Equipment & Parts Storage
Phase Three: December 2026 - April 2027
Parking
Enclosed Fertilizer Storage
Course Material Storage
Square Footage Comparison
Current Future
Mechanics Work area w/AC
Equipment Storage 1972 w/ No AC
Equipment Storage 1984 w/ No AC
Walking Mower Storage w/AC
Part & Tool Storage w/AC
Fertilizer Storage w/ No AC
Grinding Room w/AC
Oil & Fuel Storage w/AC
Welding w/AC
Directory of Agronomy Office
Administration
Superintendent Office
Irrigation Office and pipe storage
Assistant Superintendent Office
Lunch Room includes under air
Lunchroom- covered outside patio
Men’s Locker Room/Restroom
Women’s Locker Room/Restroom
TOTALS- not including hallways
Total Under A/C administration inc. above.
Total Under Roof
5,208
19,281
Civil Work
Civil work at Golf Course Maintenance will include Civil Engineer fees; removal of existing septic, berm soil, asphalt, existing storm drainage; and several projects dealing with water and power.
Budget and Cost Estimates
Hard Cost- Construction
Demolition/Site Prep
Phase 1 building
Phase 2 building
Phase 3- Dumpster
Fertilizer & Material Storage/Soil Bins
Phase 3- Site Work/Utilities/Asphalt Allowances
Remove Berm Total $145,000 $3,497,000 $1,475,000 $640,000 $1,088,000 $ 75,000 $6,920,000
Soft Cost
Professional Fees
Landscaping & Irrigation
Permit, Utility Fees, Impact, and interest
Furniture and Breakdown Equipment
Low Voltage
Fencing/ Gates
BDA- Fire Antenna
Miscellaneous Items
Total $305,000 $100,000 $300,000 $77,000 $37,000 $15,000 $40,000 $53,000 $927,000
Totals
Total Cost Contingency Contingency (Tariffs) Overall Total $ 7,847,000 $783,000 $100,000 $8,730,000
Recent Capital Investments
PROJECT YEAR AMOUNT
Tee House Rebuild
Racquets- Tennis & Pickleball
Lifestyle Center
Clubhouse Roof
Pelican Grill Renovation
Golf Learning Center
Golf Course Renovation
Parking Lot Expansion
Croquet Court Expansion
Lower Level Renovation
Golf Course Facilities (proposed)
Total Capital Investments 2017 to-date
$331,821 $412,964 $5,891,177 $549,040 $2,107,163 $1,931,962 $3,833,811 $764,504 $185,899 $1,700,000 $8,730,000 $26,438,340
Financing
How do we plan to pay for the GMF?
We have a commitment from Northern Trust to provide two different loan facilities.
The first is a $2.75 million three-year line of credit (LOC). Similar to our existing facility, we are able to borrow and repay as needed/able.This type of facility has provided CCF with great short-term liquidity flexibility. The rate on this LOC will be roughly 6.5%.
The second will be a $7 million Construction loan. During the first 24 months this loan will act just like the LOC. We can borrow and repay as needed/able. However, any amount outstanding on the Construction Loan at the end of the 24-month period will be termed out for three years, with monthly required payments. The rate on the construction loan is slightly higher related to the longer term, roughly 6.8%.
Based upon projections we shared with Northern Trust and are summarized in this booklet, we do not anticipate having any outstanding 3rd party debt at the end of any fiscal year during the GMF project.
We have assumed 9-13 new members per year over the next three years with the Entrance Fee increasing from $200K to $225K . This will generate roughly $6.0 million in entrance fee revenue. This assumption seems reasonable based upon prior years and current membership pipeline. This is the critical assumption that allows us to complete this project with NO member assessment. Nonetheless, if our underlying assumptions, particularly as it relates to new members, change, or in the case of a negative economic event, a Member assessment can be revisited.
Cash Flow Projections
Cash Flow Projections
Cash Flow Projections
Frequently Asked Questions
Was this project put out for bid?
A group from CCF interviewed three different contractors and found two who were believed capable of doing the work. Contractors do not provide quantified dollar bids for this kind of project until the project mandate has been awarded, as costs are not determined until subcontractors have bid for the components of the job. Based on our prior excellent experience (Main Clubhouse, Lifestyle Center, Golf Learning Center, Clubhouse Lower Level, etc.) the group opted to go with Mouw Associates.
What is the cost on a per square foot basis?
Using the actual estimated construction costs (not including the cost of significant site work, furnishings, etc.), the cost is roughly $291 per square foot.
What are the inflation assumptions included in the estimated cost?
The estimated cost includes an addition of 2% of the total project built in to cover the cost of inflation.
Has this project been “value engineered”?
Jeff Klontz and his team have spent over 18 months with the architect, contractors, Village of Golf and others reviewing the various requirements of the new facilities, including visits to facilities at other clubs. We believe we have maximized the utility of our new facility while closely monitoring costs and amenities.
What is the expected life of the new facilities?
This facility should support CCF in meeting our golf course, landscaping, maintenance and other needs for a minimum of 40 years.
Are we at risk of discovering environmental or other issues that might elevate costs when demolition and excavation begin?
We have worked with civil engineers and the Village of Golf to assess all necessary site work to accommodate drainage, utility and other site work requirements, including the removal of a septic tank. We believe that we will have no environmental surprises.
Does the Village of Golf need to approve this project before we begin?
We have worked closely with the VOG in developing this project and expect the Village Council to pass a resolution approving the project at its April meeting.
Frequently Asked Questions
What are we doing for the benefit of our employees?
In addition to substantially improving and modernizing work areas, equipment, tools, and overall working conditions (including A/C), our team will for the first time have dedicated locker rooms and showers (male and female), break areas and a lunchroom/meeting/training room big enough to accommodate our 20+ dedicated employees, providing amenities comparable with those provided in the recently completed lower level of the Clubhouse.
Will there be incremental ongoing cost to the Club of operating the new facilities?
Yes, there will be additional costs to maintain the larger facilities along with an increase in electricity, insurance and real estate taxes. There will also be an increase in interest expense over the construction period. However, there is potential operating efficiency to be gained that will help offset some of the incremental costs.
Was a Member Capital Assessment considered to assist in paying for the new facilities?
While a Member Capital Assessment was discussed, the Finance Committee and Board of Governors believe that we can comfortably complete this project without a Member assessment and without incurring a significant amount of (or possibly no) term debt. This can be accomplished using attractively structured and priced financing from our bank, Northern Trust, augmented by strong new Member flow and planned increases in our Entrance Fee, Annual Dues and Capital Dues. Nonetheless, if our underlying assumptions, particularly as it relates to new Member flow, change, or in the case of an unforeseen event a Member assessment can be revisited.
Historically , how have we financed projects such as the GMF?
Annual dues and member utilization of the Club's F&B and other facilities covers the annual operating cost of CCF. Capital dues offset roughly $1.0 million of annual capital expenditures to maintain the Club's facilities, landscaping, etc. New projects such as the Lifestyle Center, Golf Learning Center, Golf Course redo and the etc. have been paid through new member Entrance Fees and intra-year borrowings on CCF's LOC with Northern Trust.
Is the Golf Maintenance Facility the last big project for CCF?
Never say never, however, the board has discussed that upon the completion of the GMF, there is not another significant capital project on the near term horizon. This will allow CCF to begin to build balance sheet reserves for the future. CCF is in a strong position because we have made important investments back into the Club. That said, it will prudent to build capital reserves for the future.
In Conclusion
This proposal outlines the critical need for an upgraded maintenance facility to support our growing workforce and ensure the safety and efficiency of our operations. By investing in this new facility, we will be able to provide a safe, organized, and modern work environment for our employees, while maintaining the high standards expected for our equipment and operations. We request approval to move forward with this project, which will be completed in phases, with a projected total cost of $8,730,000.
