Swift Current city council has approved a restructured financial agreement with the Elmwood Golf Club, a move Mayor Al Bridal says is aimed at protecting both the City and the long-term viability of the course.\u00a0<\/p>\n
The agreement replaces several older contracts tied to a loan used for renovations and development at the golf course, including the Cypress Point subdivision.\u00a0<\/p>\n
Bridal said the original agreement was made during a much stronger economic period.\u00a0<\/p>\n
\u201cWhen this agreement was put in place, the economy was booming,\u201d he said. \u201cWe expected all the lots at Cypress Point to sell, and if that had happened, Elmwood would have had no problem paying the loan back.\u201d\u00a0<\/p>\n
Instead, the local downturn in oil and gas stalled lot sales, leaving roughly two-thirds of the subdivision unsold. Bridal said that reduced revenue meant Elmwood could make loan payments, but at the cost of basic operations.\u00a0<\/p>\n
\u201cThey had nothing left for capital expenses,\u201d he said. \u201cThey were struggling to replace equipment like mowers that cost well over $100,000.\u201d\u00a0<\/p>\n
Under the new agreement, Elmwood\u2019s payments to the city are restructured into a long-term lease arrangement spread over 35 years, with renewals continuing beyond that term. For now, it is a five per cent increase every five years under the new lease agreement. \u00a0<\/p>\n
\u201cThe citizens of Swift Current will get all their money back,\u201d Bridal said. \u201cElmwood will be able to stay open, buy the equipment it needs and remain a successful golf course.\u201d\u00a0<\/p>\n
Bridal said the city was also concerned about the alternative.\u00a0<\/p>\n
\u201cThe city didn\u2019t want to be in the position of operating two municipal golf courses,\u201d he said. \u201cThat wouldn\u2019t be in anyone\u2019s best interest.\u201d\u00a0<\/p>\n
He emphasized the situation is not comparable to individual taxpayers falling behind on payments.\u00a0<\/p>\n
\u201cThis is a special case because the city owns the golf course proper,\u201d Bridal said. \u201cWe\u2019ve owned that land since the mid-1970s. Any renovations were done on taxpayer-owned land.\u201d\u00a0<\/p>\n
Bridal added that the city has supported other community organizations in similar ways over the years, including the Swift Current Broncos and the Curling Club, to help ensure their long-term sustainability.\u00a0<\/p>\n
He also addressed misconceptions about personal benefits tied to the agreement.\u00a0<\/p>\n
\u201cThere are no free rounds of golf,\u201d Bridal said. \u201cIf I golf at Elmwood or at Chinook, I pay just like everyone else.\u201d\u00a0<\/p>\n
Bridal confirmed that under the old agreements, that was part of the deal. Any member of the City administration or council was entitled to free rounds, according to the arrangement made in the 1970s. Bridal asserted that this had not been utilized by himself or anyone else in decades. \u00a0<\/p>\n
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