Reading all
425 messages in thread
message board home
message board home
Next
3/4/2014 10:42:23 AM
 
Reply
or ReplyNewSubject
Section 5: OPA Board Subject: COPE Golf Petition? Msg# 879502
|
||||||
|
Whats being considered is conversion from a golf course to open park land. Its conversion from one asset into another. Its not analagous to your phrasing -- If you go and blow it all at the casino, you reduced your annual carrying costs but your net worth just went down by $25,000!
So your example isn't persuasive for me. Nate, I guess we'll have to differ on the valuations we'd each place on the golf course VS park land. But I'd suggest that you consider the nearby golf course on Beauchamp Rd. Its out of business and the owners are trying to sell for what ever they can get. Seems that when a course is financially in the red, its overall asset value sinks rapidly. No one can deny the OP's course has been in the red quite a while, despite many many many efforts by those in authority to restore its viability. And thats the national trend, closing of courses from finanical pressures, as admitted by golf's national trade organization. I'd say that park land is something to consider. Tom |
||||||
|
|
||||||
|
For reference, the above message is a reply to a message where: Just a follow up to my post above....think of this on a personal level. Suppose you own a vintage car...between insurance, storage and maintenance, the costs are $2,000 year. You decide that the carrying costs are just too great and decide to sell the asset. Say you get $25,000 for the car. As long as that $25,000 is reinvested into other assets, your net worth stays the same and hopefully increases. If you go and blow it all at the casino, you reduced your annual carrying costs but your net worth just went down by $25,000! My point, assets are assets. If an asset just goes away without being replaced by something of equal or greater overall value, net worth goes down. In the case of the golf course, the community value could go down which ultimately does effect every homeowner. Something to consider. |
| Calendar |
Special Board Meeting - Board Room
11/25/2024 - 7:00 P.M. 3 days or less away! |
|
OPA Board Meeting - Golf Clubhouse
12/21/2024 - 9:00 A.M. |
|
OPA Board Meeting - Golf Clubhouse
1/25/2025 - 9: A.M. |
|
OPA Board Meeting - Golf Clubhouse
2/22/2025 - 9:00 A.M. |
|
OPA Board Meeting - Golf Clubhouse
3/29/2025 - 9:00 A.M. |