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Home My WebLink AboutCherry Lane Golf Course Lease CorrespondenceJune 8 1978 Honorable Mayor Storey and Council City of Meridian Meridian, Idaho 83642 Dear Mayor and Councilmen, I and several other individuals would like to form Cherry Lane Golf Course, Inc. The proposed company is seeking to lease the Leavitt NuPacific golf course property that is being conveyed to the city. The proposed lease with the city would be for a 55 year period with annual minimum rental of $6,000.00. The company would take over the entire operation and improvements. The lease would be a triple net lease; wherein the lessor would pay all expenses, including taxes, insurance and maintenance costs. In addition, the company would make certain additional im- provements including, but not limited to, a pro shop, racquet ball club, snack bar, tennis courts and possibly other recrea- tional projects. If the city is interested, we will prepare a proposed Lease Agreement for city attorney's recommendation. WDL/lm Very truly yours, Wallace D. Lovan 'N.• iii � (i '.Y". Ii1. ANtBRO,Sf:, FI"1'4GU: RAI_.f) 6 C-ROOK,STON ,r: IL \ Ali 1. r r i ..,ill August 21, 1978 Mayor. and City Council City of meridian Meridian, Idaho Gentlemen: ''C-i'EPHC+NF. rifi rt �q rU You gentlemen have requested that I .review a proposed Lease of the golf course. I have reviewed the same and have the following comments. This lease is drawn using the basic format that was used when the City of Noise ]_eased property to Boise Development Company for the construction of the Warm Springs Golf Course. The leases are very similar. However, there is one major difference, that being that under the Boise lease the lessee had to construct a golf course and club- house, whereas, in this instance they Meridian lessee does not have to construct the golf course which is a considerable difference in dollars. I do not consider it my duty nor do I feel that it is in my area to make recommendations or pass on proposed leases in an area that actually amounts to business decisions. From a legal standpoint I believe that the City is in a situation where they have obtained a piece of property which is a developed golf course and will ultimately be an eighteen hole developed golf course. This constitutes a considerable asset. The City may certainly lease this but it is my feeling that they must keep the following three criteria in mind: 1. It is a municipal course and you therefore have the obligation to see that the method and manner in which it is leased and run is such that it functions, as a municipal course, available to the citizens of Meridian. .; - '�*' i Mayor and City Council Page 7. X3/21/78 2. That because the golf course is developed, the City must lease it at a dollar figure or under a schedule which generates a reasonable rental or revenue in relations to the value of the asset. 3. That the City should not enter into any lease which runs for an extremely long period of time. In rAherword.s, the City can live with a bad lease for a relatively short period of time, but 55 years is a different story. Further, an example of what I am talk- ing about, assuming $6,000.00 is a proper rental figure now, it certainly will not be accurate fifty years from now. If the Council follows the above legal. criteria, any lease you enter into will be legal. Very truly yours JOHN O. FITZ E City Attorney JOF/kam 0 0' August 22, 1978 Mr. Wayne Crookston, President Meridian Industrial Development Corp. Meridian, Idaho 83642 Gentlemen, We are seeking your assistance in an SBA 11502" loan request for purposes of improving the Meridian golf course to include a new pro shop, racquet courts, locker rooms, and tennis courts. We are a profit making company that is about to conclude negotiations with the City of Meridian to lease the land for a long term. With the leasehold improvements we believe the project will benefit the community and will fill a much needed project. The facilities will remain a public course with open play at all times. Our tentative investment requirements is as follows: Clubhouse 6, Restaurant $240,000.00 Racquet Club. 280,000.00 Tennis Courts 20,000.00 Other direct costs 60,000.00 $600,000.00 It is estimated that we will have more than 20 employees in the combined operation. We would appreciate meeting with the Development Corporation at your convenience. Very r-.l•7CUrS, Wal:y an Cherry Lane Recreational Facilities, Inc. WDL/ lm S EP l i 1979'' GC!)0r Rich Stanwood pro pga member treasure valley's quality public golf club private and group instruction w driving range cart rentals complete line of golf clubs, clothes, shoes and accessories phone (208) 888-4080 cherry lane recreation, inc., 2040 interlachen way, meridian, idaho 83642 September 10, 1979 Dear Mayor, It is time for the city to consider the agreement between NuPacific Company and the city proper in its agreement to take over the golf course. This agreement will reach the one year mark on the 2nd of October 1978. If you will refer to the minutes of the Meridian City Council meeting dated October 2, 1979, the city accepted the golf course on the stipulation that 9 items be corrected. The following is the status of those nine items. #1. The well is not large enough to supply the necessary water to sprinkle the course. #2. Has been completed. #3. Cement ditch in fairway seven and eight is still exposed. #4. The electrial system has never operated correctly. #5. A written agreement on land should be provided. #6. No building was provided for the electrial panel boxes. #7. Bri4ges were installed on #5 fairway, ramps not completed. #8. Ramp curbs not completed. The ones that have been installed are not wide enough to accommodate equipment. #9. Repair of 6" water line not completed. I would like to meet with you and the council at the golf course at your earliest convenience, There are other inadequacies at the course that should be pointed out to you. Very truly yours, 0 Idaho Idaho MERIDIAN OFFICE February 1, 1980 Honorable Mayor Joseph Glaisyer Meridian City Hall 728 Meridian Street Meridian, Idaho 83642 Dear Mayor Glaisyer: We have been asked by our customers, Wallace D. and Venita Lovan, to advise you of their loan application made today with this bank. In conjunction with the operation of the Cherry Lane Golf Course, they have made arrangements for the availability of a $50,000.00 credit line, with the line to be reviewed on an annual basis. Based on the available information, conditions appear to be favorable for the issuance of a commitment to the Lovans upon their request and at such time as documentation for the transaction is complete. Yours v ru , S Terry . _Smith Mana er TPS:jc cc: Wallace D. & Venita Lovan THE IDAHO FIRST NATIONAL BANK P. O. BOX 405 MERIDIAN, IDAHO 83642 Will Berg City Clerk 33 E Idaho Meridian Idaho 83642 Dear Will, Subject : Golf Course Lease FXcB1vF4D SEP 2 9 2000 CITY OF MERIDIAN September 29, 2000 Cherry Lane Golf Course 4200 W. Talamore Meridian Idaho 83642 (208) 888-4080 Enclosed Please find payment on the year Oct. 1, 2000 - September 30, 2001 lease payment. Sincerely , t c� Wallace D. Lovan Cherry Lane Golf Course HERRY LANE RECREAI dba CHE rE33DL Item to be F 2000/2001 Meridian, Idaho 83642 888-4433 Customer's ��_ Z _ U Order No..�� // -- -- Date Name jell (. Address �ZG L✓ /�_ -'" - �� 03692 1 Phone: gle & J BCS SOL BY CASH C.O.D. CHARGE ON ACCT. MDSE, RETD. PAID OUT DESCRIPTION • I ej 2oov Zood � I I I Q � I I Abi,�ILTAX I All claims and returned goods ST a accompanied by 0 0 0 0 2 31 Bece' TOTAL -3 V PRINT JA PpINTEO WITN (V, fjlM/ PRINTED IN U.S.A. �JSOYINK„ �� JJ 6,000.00 L DOCUMENT— & ORIGINAL CHERRY LANE RECREATION, INC. IDAHO INDEPENDENT BANK 6099 dba CHERRY LANE GOLF CLUB 113 E. Idaho Ave. 4200 W. TALAMORE Meridian, Idaho 83642 MERIDIAN, IDAHO 83642 (208) 888-4080 92-373/1231 DATE AMOUNT Sep 28, 2000 *****$6f`000.00* Memo: 771 PAY Six Thousand and 0/100 Dollars TO THE City Of Meridian ORDER 33 E Idaho St OF: Meridian, ID 83642 118000609911n 1s L 23 L0373 21:050000439511'