Castle Rock, CO (August 22, 2007) – Golf Convergence was retained by Union County, Oregon to conduct a comprehensive review of operations to determine the ability of the County to service debt on a spectacular but fledging golf course in a very remote part of southeastern Oregon. The County owed the Oregon Economic Development Authority $2.1 in principal and $625,468 in accumulated interest.
In a County of only 26,000 people with the course 13 miles from the nearest population center, Union County was managing the facility with a cost-consciousness rarely seen in municipal golf. There was, however, a small but ardent group of golfers wanting to play for nominal rates using value-priced season passes with unlimited use. An equally vocal group of dissenters felt that the County’s allocation of fiscal resources to the project was worthy of review. Thus, the forum in which the plan was created was politically charged with strong divergent views.
Golf Convergence created a plan that provided a five-year vision focusing on pricing, marketing, technology, staffing and capital investment programs.
Based on the County’s commitment to implement the changes recommended, the Oregon Economic Development Authority offered and the County accepted a restructured loan package. Bob Repine, Director of the Oregon Economic Development Department, agreed to allow Union County credit for all of the county’s cash contribution to the course. The credit saved the County $625,468 in interest payments. In addition, the loan was restructured, saving Union County $1,160,000 in interest payments over the life of the loan. For additional details regarding the benefit Union County received, click here.
According to Bob Repine, "The loan restructure is predicated on the County’s timely and successful implementation of business plan recommendations outlined in a report done last year by Golf Convergence."
Company Information: Golf Convergence is a consortium of seven leading golf experts focused on market research, customer franchise analysis, electronic messaging, digital marketing, facility branding and membership, inventory solutions, and operational management. Their strengths combine to assist golf courses by maximizing revenue, increasing operational efficiency, and enhancing customer service. For more information on Golf Convergence, contact James J. Keegan, Managing Principal, at 303-283-8880, or at jkeegan@golfconvergence.com or http://www.golfconvergence.com.
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