Soft opening of Blackwater Golf Club in Florida scheduled for February
CRESTVIEW, Fla .– Around mid-February, city officials plan to smoothly open key features of the city-owned 18-hole Blackwater Golf Club, including its virtual and interactive Toptracer Range, front nine holes, and a Tiki bar called the workout bar.
âWe’re aiming for a grand opening (for the entire golf course property) on St. Patrick’s Day,â March 17, CEO Tim Bolduc said on Tuesday.
Previously: Renovated Crestview Golf Course will feature a high-tech interactive Toptracer range from Topgolf
The grand opening is expected to include the opening of the new full-service restaurant, called The Crossing, in the renovated pavilion.
The city purchased the former 129-acre Foxwood Golf Course and lodge and amenities in August 2020.
Bolduc told city council on Monday that due to delays caused by the COVID-19 pandemic in receiving building materials and new golf carts, the smooth opening is expected to take place around mid-February instead. from the beginning of January.
Crestview officials used $ 2.5 million from the city’s reserve funds to renovate and improve the golf club property.
âAs we near the end of this project, we need to pay back our reserves,â Bolduc told council members.
To replenish reserves, the board unanimously approved a loan of $ 2,575,000 from the Sterling National Bank of Concord in North Carolina. The total includes $ 75,000 to pay for issuance costs.
With an interest rate of 3.07%, the interest paid over the 20.5-year term of the loan is estimated to be nearly $ 942,000. City officials plan to use the income from golf clubs to pay off the total debt in 2042.
By using the town’s money up front for the various upgrades, Crestview was able to reduce the project schedule by approximately six to eight months and save money in the long run by avoiding the rising costs of building materials. , according to Bolduc.
Later, during Monday’s board meeting, the board agreed to provide approximately $ 300,000 in municipal funding for new golf cart tracks on the course. This funding will later be repaid with the income of the golf clubs.
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