HomeMy WebLinkAbout1991.06.28_OPGA MinutesOWASSO PUBLIC GOLF AUTHORITY
MINUTES OF REGULAR MEETING
Monday, June , 1991, 5:30 p.m.
Owassoi H1?nferce-iaa
MEMBERS PRESENT
Bob Oldefest
Tom Rikkola
Glenna Anderson
Brian Skelton
Ed Sokolosky
STAFF PRESENT
Marcia Boutwell
Sherry Lambert
Ted McCord
Rodney Ray
Ron Cates
The Owasso Public Golf Authority met in rescheduled regular session on Monday, June 24,
1991 at 10:00 a.m. in the Meeting Room at the Owasso Public Library per the Notice of Public
Meeting posted on the City Hall bulletin board at 8:00 a.m. on Friday, June 14, 1991.
ITEM 1: CALL TO ORDER
Chairperson Bob Oldefest called the meeting to order at 10:20 a.m. and declared a quorum
present. Also present were representatives from CCA, Blue T Golf, Coopers & Lybrand,
Pittman, Poe and Associates, and the Larkin Bailey Trust.
ITEM 2: REQUEST APPROVAL OF THE MINUTES OF DUNE 10, 1991
Tom Rikkola moved to approve the minutes of June 10, 1991 as written; seconded by Glenna
Anderson. Motion carried 4-0.
ITEM 3: PRESENTATION OF FEASIBILITY STUDY
Dan Winders, Steve Gilbert and John Frankovich of Coopers & Lybrand presented two scenarios
of revenues, expenses, lease payment, and estimated financing using figures received from CCA
and comparing them to the figures compiled at the meeting held at the Westin Hotel. Norm
Goodmanson, Vice President Development for GolfCorp CCA--Silband explained how CCA
arrived at their numbers. Discussion followed.
ITEM 4: DISCUSSION AND ADOPTION OF INITIAL BUDGET FOR THE
FINANCING, DESIGN, CONSTRUCTION AND OPERATION OF A
MUNICIPAL GOLF COURSE FOR THE PURPOSE OF DEVELOPING A
FINAL REPORT OF THE FEASIBILITY STUDY
All parties discussed the design, construction & operation costs at length, with Bill Tate of Blue
T Golf explaining construction costs in detail. Discussion on this item continued through the
remainder of the morning.
Owasso Public Golf Authority
Minutes of June 24, 1991
Page 2
Ed Sokolosky in at 11:45 a.m.
At 12:40 p.m. Glenna Anderson moved to recess for lunch; motion seconded by Tom Rikkola
and carried 5-0. Meeting was recessed by the Chair to reconvene at 1:30 p.m.
The Chair reconvened the meeting at 1:30 p.m. and discussion continued on Item #4. It was
the consensus that construction costs are still too high and that the Authority needs to set some
construction parameters for costs as well as physical characteristics (clubhouse, etc.). There was
also discussion on interest cost and other forms of financing.
Tom Rikkola out at 3:10 p.m.
David Leininger, Chairman & CEO of C1ubCorp Realty, addressed the Authority on some of
the concerns from the viewpoint of CCA. He also spoke about the consultation agreement and
addressed some of the questions concerning that agreement.
ITEM 5: REVIEW AND DISCUSSION OF PROPOSED CONTRACT DOCUMENTS
BETWEEN OPGA AND BLUE T GOLF INC
Ron Cates reviewed briefly the latest draft of the Ground Lease Agreement, Lease Purchase &
Sub Lease Agreements, and Mortgage & Indenture of Trust. These agreements are close to their
final format.
ITEM 6. REVIEW AND DISCUSSION OF PROPOSED CONTRACTS BETWEEN
OPGA AND CCA
Ron Cates reviewed the agreements between OPGA and CCA. There are no changes in the
Consultation Agreement and the Maturation Agreement. He discussed all of the changes that
have been made to the Management Agreement. The Authority will receive copies of the
documents in their final form for review before any action is taken on them.
Ed Sokolosky out at 3:45 p.m.
ITEM 7: NEW BUSINESS
Various forms of financing were discussed, including other firms with the sarne type of financing
as Blue T Golf.
Owasso Public Golf Authority
Minutes of June 24, 1991
Page 3
ITEM 8: ADJOURNMENT
Glenna Anderson moved, seconded by Brian Skelton to adjourn. Motion carried and the meeting
was adjourned at 4:00 p.m.
Marc a Boutwell, Authority Secretary