Golf Course Advisory Board Agenda and Packet 2014 05 19

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Golf Course Advisory Board Minutes May 5 2014 Page 3 of 5 Mr. Keegan expressed concern that although the Course Could be run on a cash-flow positive basis, it was unlikely that sufficient cash could be generated to create an adequate reserve fund. He quoted examples from neighboring courses where Flatirons supports golf course capital improvements from a tax initiative and Indian Peaks is floating a bond issue. Staff and Mr. Keegan will make a proposal to city Council on June 3 and the Board members were asked for their advice on several issues. The difficulties in making the golf course fully self-sustaining o were noted and it was suggested that ongoing capital improvements to the course be funded by the City in the same way as Open space, Trails, Recreation Center, and similar city amenities. This was the “elephant in the room” that needs further analysis and discussion. Rack rate – four board members were evenly split between a o $46 and a $50 rack rate with one outlier at $60 (all without golf cart.) As a comparison, Indian Peaks charges $70 peak rate with cart The rack rate needs to be competitive with other local courses The Board agreed that non-revenue rounds should be curtailed o as much as possible. At present 13% of revenue is lost in comp rounds. The Board agreed that Season Passes (Summit Club) should o be restricted and suggested that such passes should be only valid Monday through Friday or a higher rate be charged for all- week play. This may need to be phased in gradually – a 3 year period was suggested. Discounts for loyalty programs should be used to encourage play at non-peak times. Multi-round punch cards should allow a 10% to 20% discount o depending on number of rounds purchased and should be competitive with offerings from other courses. Resident discounts were discussed. Given the wide catchment o area for Coal Creek, this is not a good idea financially but may well be attractive to Council as a citizen benefit in recognition of the city supporting the golf course. It was agreed that all no-shows be charged o It was agreed that winter play should be at a reduced rate but o that the free winter golf be discontinued as it damaged the course and created no revenue. ·· Parks and Recreation Department 749 Main Street Louisville, CO 80027 · (303) 335-4735 FAX (303) 335-4738 www.louisvilleco.gov Parks Recreation Senior Services O Golf