Some questions have arisen as to what the status of the Attorney Fund is and what we intend to do with it. Our intention is to wait until the potential acquisition of the Club by Southwest Golf Management et al is consummated. As you may have surmised from the meetings and other sources, the actual purchase of the Club won’t take place until the end of May. Although we are encouraged with the potential purchasers’ actions to date and believe their membership offerings merit serious consideration, the deal has not closed.
We don’t have a final accounting from the law firm (haven’t asked for one) but we have spent approximately $15,000 of the approximately $65,000 received from over 150 contributors. We anticipate refunding approximately 75% of every dollar contributed. We will do that, as well as wind up the legal entity of the Community Club, once we have confirmation that the acquisition of the Club is final.
We appreciate your support of the Community Club and the community in general. We want to see a successful golf course and club in our midst and trust that you all will continue to support the acquisition of the club by Southwest Golf Management.
Group of Six Bob Crowley Myrle Schwalm Lynn Zeemont Lloyd Bates George Ruth Andy Philo