Revelstoke Golf Club fee waiver proposed

Need to know: At their Feb. 24 meeting, city council will debate whether to waive about $43,000 in debt, taxes and interest owed by the Revelstoke Golf Club, and also whether to enter into a new lease that absolves the club from future rental obligation. 

For the past couple of years the Revelstoke Golf Club has been dealing with worsening financial pressures due to declining membership and aging infrastructure.

In early 2015, they came to the new Revelstoke City Council asking for assistance.

At their Tuesday, February 24 meeting, councillors will vote on a finance department report that proposes waiving the club’s outstanding rent which has accrued over the past three years, plus accrued interest and applicable taxes.

As of December 31, 2014, the club owes over $43,000 including taxes. If council waives this amount, it will reduce the city’s 2014 operating surplus to just over $15,000.

The debt waiver was one of several requests made by the club to city council in a Nov. 25, 2014 letter.

The staff report also recommends drafting a new lease with the golf that will eliminate any future rental obligation for the club. Their current five-year contract started Nov. 1, 2012, and called for a payment to the city of 2% of gross revenue in the first two years, 3% in the third year, and 5% in the fourth and fifth years. The club has been unable to pay.

The historic club currently has a five-year plan in place aimed at attracting more visitors. The club looks after the clubhouse but the city is responsible for its structural issues.

Read the staff report on the Revelstoke Golf Club lease at this link.