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Timeline of Events Mt. Graham Golf Course. Springbok Development, LLC. Copyright © 2009. All Rights Reserved. Initial City of Safford Commitment SGC1,

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Presentation on theme: "Timeline of Events Mt. Graham Golf Course. Springbok Development, LLC. Copyright © 2009. All Rights Reserved. Initial City of Safford Commitment SGC1,"— Presentation transcript:

1 Timeline of Events Mt. Graham Golf Course

2 Springbok Development, LLC. Copyright © All Rights Reserved. Initial City of Safford Commitment SGC1, LLC Purchases approximately 488 acres of land contiguous to the Mt Graham Golf Course with the understanding from staff (City of Safford) that the city would be willing to incorporate the existing golf course into a full Master Planned Community.

3 Springbok Development, LLC. Copyright © All Rights Reserved. Escrow Closes for $6.5 MM Escrow Closes February 1, 2007 by and between Arizona State Credit Union and SGC1, LLC under the direction of the development plan of Springbok Development. SGC1, LLC makes a $6.5 MM commitment through the purchase of 488 acres to move forward with the development of Mt. Graham Golf Course expansion.

4 Springbok Development, LLC. Copyright © All Rights Reserved. Graham County Application Springbok makes an application with the County of Graham County to Zone and proposes the Master Planned Community to incorporate all of the City of Saffords properties and SGC1, LLC properties into the Development.

5 Springbok Development, LLC. Copyright © All Rights Reserved. Thatcher Proposal Thatcher requests the Developer to incorporate the proposed development within the Thatcher City Limits.

6 Springbok Development, LLC. Copyright © All Rights Reserved. Agreement Between Cities The City of Safford and the Town of Thatcher cooperate in establishing revenue streams for both cities. The City of Safford and Town of Thatcher execute a Memorandum of Understanding (MOU) to cooperate in the sharing of future revenues from the proposed development. Springbok Development agrees to submit all applications to Thatcher and withdraws their application to Graham County.

7 Springbok Development, LLC. Copyright © All Rights Reserved. New Legislation Springbok Development hires Gallagher and Kennedy, Law Firm, Phoenix AZ to assist in introducing legislation that would allow a municipality to exchange real estate they own outside of their jurisdiction with a private party.

8 Springbok Development, LLC. Copyright © All Rights Reserved. Saffords Support of HB2014 Safford City Council Supports Mt. Graham Golf Course expansion, and adopts a resolution supporting House Bill 2014 in January 2009, for land exchange.

9 Springbok Development, LLC. Copyright © All Rights Reserved. Resolution No

10 Springbok Development, LLC. Copyright © All Rights Reserved. Rep. Bill Konopnicki Sponsors HB2014 The Bill, a copy of which follows, proposed to amend A.R.S , thereby facilitating the exchange of real property in the Safford - Thatcher area. Rep. Bill Konopnicki sponsored the Bill and it was single assigned to the House Government Committee.

11 Springbok Development, LLC. Copyright © All Rights Reserved. Copy of Adopted HB2014

12 Springbok Development, LLC. Copyright © All Rights Reserved. Copy of Adopted HB2014, p.2

13 Springbok Development, LLC. Copyright © All Rights Reserved. HB2014 Signed into Law The Bill is processed through the State House and Senate, makes its way through several committees and is signed into law on July 9th, 2009 by the Governor and is fully in force September 30th, 2009.

14 Springbok Development, LLC. Copyright © All Rights Reserved. Adopted Site Plan: Mt.Graham Golf Course Springbok prepares and makes applications to the City of Thatcher for a Master Planned Development and presents it to the Planning Commission and City Council and receives unanimous approval for the city of Saffords properties and SGC1, LLC properties.

15 Springbok Development, LLC. Copyright © All Rights Reserved. Leasehold Agreement Springbok seeks long-term leasehold agreement with the City of Safford. Springbok seeks the rights and privileges to expand and redevelop Mt. Graham Golf Course. Springbok seeks to relieve the City of Safford of long-term liability.

16 Springbok Development, LLC. Copyright © All Rights Reserved. Creating a Win-Win Solution Moving forward with the proposed lease agreement the City of Safford gains An improved facility New designed course Revenues from utilities Tax revenue from sales A new expanded facility that brings purchasing power into the region City retains fee simple ownership Course will remain as a public course

17 Springbok Development, LLC. Copyright © All Rights Reserved. Leasehold Flexibility Additional Benefits to the City of Safford City retains the right to subsidize green fees. City can immediately relinquish their $400,000 annual losses. City can implement a plan to gradually scale up the green fees. City will gain a world-class Management and Development team, unprecedented to this area. The Development and Management teams are willing to consider incorporating the current management and employees through a reasonable employee qualification process.

18 Springbok Development, LLC. Copyright © All Rights Reserved. City of Safford Seeks a Solution Current liability for the City of Safford is $400, per year. Springbok estimates the City has put $1MM into the course in the last 36 months. The City will spend another $1.2MM in the next 36 months. The City will have General Fund exposure for $2MM in a 72 month cycle.

19 Springbok Development, LLC. Copyright © All Rights Reserved. Site Plan

20 Springbok Development, LLC. Copyright © All Rights Reserved. Our Websites Springbok Development, LLC www www Norris Design www www

21 Springbok Development, LLC. Copyright © All Rights Reserved. Lifestyle Golf Communities Inc. (LGC) is a potential participant with Springbok Development LLC for co-development of Mt. Graham Golf Community. Lifestyle Golf Communities Inc., and it affiliated entities, has a business relationship with the following vendor brands: Nicklaus Design www www Troon Golf www www Weitz Golf www www Epcon Communities www www John Deere Golf Future Potential Partners Disclosure: LGC may be interested in participating with Springbok Development LLC on the Mt. Graham Golf Community when all pre-development agreements are complete, all feasibility matters are satisfactory to LGC, and a level of housing pre-sales has been met. Springbok Development LLC, at this time, does not have a definitive contract with LGC, or with any of the above vendor brands for Mt. Graham Golf Community.

22 Springbok Development, LLC. Copyright © All Rights Reserved.


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