Lockwood Folly Community Center South Elevation (View from Water)
What a New Community Center Means to the LFCC Membership May 2009
Purpose of Presentation • Present the Facts About a New Community Center • Have an Open Forum for Questions • Provide Membership with Information to Make an Informed Decision
Presentation Overview • Current LFCC Facilities • New Community Center • Land Exchange Required • Questions and Answers • Closing Comments
Current LFCC Facilities
Pro Shop/Café • Built in 1987- 4100 total square feet • Outside Inspection Done October, 2006 • Structure: Deteriorating with rot/water damage in Windows, Doors, and Some Walls • HVAC: System not correctly sized for building including cold air returns
Pro Shop/Café • Café Eating Space: • 34 Seats Inside and 12 Seats Outside • Limited Appeal to Non-Golfing Diners • Recent Renovations: Last 4-5 years • Kitchen Upgrades to meet County Health Code • New Windows and Door to Pro Shop • New Counter and Shelving in Pro Shop • New Toilet in Ladies Restroom
Cart Barn • Built in 1987/1988- 4900 square feet • Outside Inspection Done October, 2006 • Overall in Good Condition • Water Damage on louvered walls on front and rear • Recent Renovations: • Replaced rear doors and repaired other damaged areas • Will need electrical upgrade for carts in future
Maintenance Building • Built in 1987/1988- 7600 square feet • Overall structure is adequate for our needs • Don’t anticipate any major repair needs.
Half-Way House/Restrooms • Built 1987/1988 • Half-Way House: 350 square feet • Used for restroom facilities only • No food service due to upgrade cost to meet County Health Codes • Restrooms 13th Green/14 th tee: • Good condition, painted in 2008
Septic System • Completed in 1987/1988 • Owned by LFCC and used to support Pro Shop/Cafe, Cart Barn and POA Clubhouse • Tank Pumping and maintenance expense shared with POA • Normal Life Expectancy: About 25 years • If failure occurs, must be brought to current codes including repair field
Parking Lot • Completed in 1987/1988 • Owned by LFCC and supports both LFCC and POA activities • Current drainage issues, deteriorating pavement and sink holes will have to be addressed in near future
Parking Lot • Parking Lot is Grand-Fathered in current condition, but does not meet current water drainage code (drop inlets) • Storm Water Management project over the next few years will require excavation in parking lot • Any major work in the parking lot, including renovation or storm water drainage would force us to comply with new codes
Estimated Costs: 2009 Dollars Pro Shop & Septic Parking Cafe System Lot Est. Costs $900, 000 $100, 000 $100,000 Finance 15 years @ 15 years @ 15 years @ Option 6% 6% 6% Est. Annual Cost per $437 $48 $48 Membership
New Community Center
Lockwood Folly Community Center South Elevation (View from Water)
Elevation Views and Floor Plan of New Community Center
Parking Lot Entry View
Pool Side View
Waterfront View
Putting Green View
New Community Center-1 st Floor • Designed for the Lockwood community overlooking Inter-coastal waterway • 16,100 total square feet (11,800 1 st Floor) • 2 Kitchens: Commercial and Catering • Elevator to 2 nd Floor
New Community Center-1 st Floor • Large Meeting Room: • Dinner Seating for 225 people • Theatre Seating for 485 people • Can be subdivided for smaller functions • Meets Fire Marshall capacity code • Pro Shop and Café next to putting green • Approximately 4000 square feet • Inside seating for 68 • Outside Seating for 24
New Community Center-2 nd Floor • 4300 square feet • Office Space • Library/Card Room and separate meeting rooms • Conference Room
Cost of New Community Center • Building cost • Locking in pricing today provides a reasonable per square foot cost • Costs include furniture, appliances, etc • POA dues impact: • $2.8M project cost • 15 year loan @ 6% • $440 Year per POA member • No Upfront Assessment
Project Overview • POA finances New Community Center project • Building Site is on the property between the existing clubhouse and putting green • Pro Shop & Café would be torn down and relocated in the New Community Center • Replacement facilities will be on-site for Pro Shop and Café to continue operations during construction.
Project Overview • Updated and expanded parking lot to support larger facility • Remove septic tanks now located on the building site and install new tanks in front of current Clubhouse • New septic field under driving range will be brought up to code and updated to accommodate increased volume • Cart Path that runs behind swimming pool would be relocated to East Side of current Clubhouse with the exit into parking lot
Construction Timetable • Septic Permit takes 12-15 months for approval process • Other Permits will take 2-3 months after septic approval • Actual demolition and construction would not start until late 2010 or early 2011 • Project would take 12-15 months to complete
Location of New Community Center • Community Center Committee Options: • Expand and Renovate Current Clubhouse • Build the New Community Center towards Townhouses • Purchase the real estate office at the entrance and renovate to fit Community needs • Build New Community Center on property between existing Clubhouse and putting green
Committee’s Recommendation • Build New Community Center on the property between existing Clubhouse and Putting Green • Other options were deemed to have too many shortcomings • This option will require POA to own the land for the New Community Center
Land Transfer Options • Sell land needed for New Community Center to POA: • LFCC would lease and pay rent for Pro Shop/Café and Kitchen Space • LFCC would have to furnish Café and build out the Commercial Kitchen • Total rental, furnishing and build out costs could exceed value of land transferred in about 7-8 years
Land Transfer Options • Exchange Land for rent free use of space for Pro Shop/Café and Kitchen • LFCC will provide furnishings for Pro Shop (existing counter, shelves, and racks) • POA will provide all furnishings for Café • POA will build out and equip the Commercial Kitchen
Board of Directors Recommendation • LFCC exchanges land currently used as Pro Shop/Cafe, Septic, and Parking Lot for rent free use of New Community Center facilities. This rent free use would continue as long as LFCC is a Member-Owned Equity Course • LFCC would continue access and use of remainder of New Community Center like every other POA member
Why Your Board of Directors Supports the Land Transfer • New and Larger Facilities • Pro Shop/Café and Kitchen • Office and Meeting Space • Attractive to potential new members • Facilities could accommodate larger groups and simultaneous events • STOP dumping money into a deteriorating structure and infrastructure that will need costly replacement shortly
Why Your Board of Directors Supports the Land Transfer • Invest our dollars in the golf course to maintain its quality plus we will have access to first class facilities for members and guests • Continue to Provide LFCC Membership with the Best Value for their Investment in the Club
Value of the land: Appraisal 5/2009 • Appraised Value of 1.2 acres required for new community Center is $570,000. • Assumes land could be sold for building lots • Septic tanks removed and Pro Shop/Café razed • Appraised Value of 1.2+ acre parking lot is $140,000 and takes into account current condition
Bottom Line Conclusion • If the Community Center is not built and LFCC members have to fund Future Replacement Costs for pro shop/café, parking, and septic, the cost is $533 per year for 15 years. • $533 per LFCCI membership per year compared to $440 per year as a POA member for 15 years for a new Community Center
LFCC and POA Agreement: Land Transfer
LFCC/POA Agreement: Land Transfer • Transfer of property does not require prepayment of current loan or any portion by BB&T • LFCCI equity membership approves transfer of land for new Community Center • Design, function, cost and funding methods approved by both boards and POA community
LFCC/POA Agreement: Land Transfer • LFCCI has same access and privileges in new Community Center as today and as stated in current POA policies • If after approval by POA community, construction fails to materialize in a reasonable time, property will revert back to ownership of LFCCI
LFCC/POA Agreement: Land Transfer • As part of construction, current pro shop and café will have to be razed • Prior to razing, a suitable substitute would be in place for pro shop desk and food service that meet local and state health codes and board approval
LFCC/POA Agreement: Land Transfer • After approval by LFCCI and POA communities, best option for consideration is transfer of the designated land from the LFCCI to the POA for which the LFCCI will receive rent free use of facilities as long as LFCC is a member owned course
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