Special Executive Session Meeting
July 14, 2019
Members present:
Mike Bodine
Calvin Kelly
Michael Hinshaw
Seth Britt
John Blickenstaff
Also present for the first part of the meeting were seven members of Foxcliff North’s BOD
1.0 Special Executive Session called to order at 7:45 p.m.
2.0 No motions, just open discussions regarding the golf course’s financial situation and possible solutions. The loose plan that emerged was to assume that we would be able to do financing and to work on how to make the golf course profitable. A few cases like ours were presented, but without much supporting detail.
3.0 Action Items
3.1 Contact Green Golf Partners for information about improving profitability. (North)
3.2 Find out if Not For Profit corporations can purchase For Profit corporations. (North)
3.3 Talk to owner of different golf course for ideas. (North)
3.4 Talk to attorney who worked with golf course and HOAs on Lake Monroe (Calvin)
4.0 Special Executive session ended 9:10 p.m.
5.0 Special Executive Session restarted 9:15 p.m. with just the 5 FESHA BOD members
6.0 Subcommittee to look at financing and ways to improve golf course profitability – Motion by Seth, seconded by John – This subcommittee will take volunteers and place them into two groups. One group is for people with previous HOA, legal or financial experience. The second group will be for people with ideas on how to improve the golf course’s profitability. Chuck Molzon will head this subcommittee.
7.0 Action Items
7.1 Draft letter to send to golf course BOD asking them if a Letter of Intent would be sufficient for them to delay actively searching for buyers. (Calvin)
7.2 Talk to Dakota to get her back on track and hopefully more helpful in finding solutions. (Calvin)
8.0 Adjourn Special Executive Session at 9:50 p.m. (Motion Seth, Seconded Mike H, unanimous vote in favor)