• Report: #655503

Complaint Review: I.R.I. Golf Group/Jeff Silverstein

  • Submitted: Tue, October 26, 2010
  • Updated: Fri, May 10, 2013

  • Reported By: FishHawk — Richardson Texas United States of America
I.R.I. Golf Group/Jeff Silverstein
11512 El Camino Real, Suite 120, San Diego, Ca Garland, Texas United States of America

I.R.I. Golf Group/Jeff Silverstein Oak Ridge Country Club failure to maintain the club Garland, Texas

*General Comment: Jeff Silverstein Carolina Trail

*UPDATE EX-employee responds: Goat-ridge CC

*UPDATE EX-employee responds: Goatridge CC

*Consumer Comment: Jeff Silverstein Carolina Trail

*Consumer Comment: Still Begging for Donations!

*General Comment: City golf can be saved tucson

*General Comment: Southern Arizona golf picture grim

*General Comment: LOOKS LIKE A LOST CAUSE

*Consumer Comment: The Oakridge Country Club's History

*General Comment: Property Values

*Consumer Comment: Oakridge Country Club New Owners

*General Comment: Who is Jack

*General Comment: jack

*UPDATE Employee: You are wrong

*General Comment: Jack

*General Comment: Country Clubs

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Oakridge Country Club has filed for bankruptcy. This appears to be another in the list of properties that I.R.I. has managed and let fail. They seem to want to get large sums of money for memberships and then not put the money back into property. Whether it is poor management or just a total failure to use the money to maintain properties is not really clear.


I purchased a life membership several years ago and have not seen a single improvement made to the club. Bunker drainage has not been fixed so that they have become ponds or either grass bunkers. Cart paths have not been fixed with large drop offs which make travel dangerous. The driving range has become nothing better that a "field" to hit balls in, with no yardage or targets on the range.


The irrigation system has gotten worse every year up until the pump in the well broke just prior to the filing of bankruptcy. Broken pipes and sprinkler heads led to either a swamp or a desert, and the repairs seemed to take weeks to be made.


Social gatherings were very nice when I joined, but now there does not seem to be any concern for this area of club membership. The retaraunt has received failing grades from the city health department. The swimming pool did not even open this year and was cited by the city as a health hazard. Cable television bills have not been paid. The liquor license was not renewed or was revoked.


I have not seen a single improvement in the years that I have been a member. This appears to be a ongoing problem with the properties they manage in the Dallas area. I played Los Rios Country Club which they previously managed. There was a "catfish" on the 1st tee box, and after wading through mud on most of the course that was my last time playing that course. They managed The Shores in Rockwall and the city had to take them to court to get the bunkers repaired on that course. The Shores has now filed for bankruptcy.


I.R.I. corporate management does not take care of their properties. The on-site management team seems to want to do things but can't get the money back that gets siphoned off by corporate. Beware if buying a membership from I.R.I. Golf Group.


This report was posted on Ripoff Report on 10/26/2010 03:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/IRI-Golf-GroupJeff-Silverstein/Garland-Texas-/IRI-Golf-GroupJeff-Silverstein-Oak-Ridge-Country-Club-failure-to-maintain-the-club-Ga-655503. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 General Comment

Jeff Silverstein Carolina Trail

AUTHOR: Blinwin - ()

In this statement Mr. Silverstein doesn't state which Texas Golf Couse he has filed bankruptcy on.  I am a former member of Twin Creeks Golf Club in Allen Texas and we have been told the course went into foreclosure not bankruptcy.  Even though the course went into foreclosure our memberships are no longer valid.  My family gave $7,000 for a 5 year membership so we could play anytime.  We wanted a membership so we could play a few holes instead of the full 18 holes in the late afternoon. I want to know if he is part of Romspen Twin Creeks LLC?  How do I get hold of the officers for RomspenLLC?

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#2 UPDATE EX-employee responds

Goat-ridge CC

AUTHOR: Garland - ()

I had worked at Oakridge and as a golf pro it is demoralizing for IRI to run their operations the way they do. The staff understood the course was in bad shape, range was in bad shape, club house was in bad shape, food wasn't good, bills weren't paid so we couldn't order gloves, balls, apparel, etc. Bitching at the guy behind the counter is about as useful as bitching at the guy in the gas station about the price of gas. An assistant golf pro probably makes $8.50 - $12 an hour and really wishes you would either shut up or choke on your sandwich.

The thing that got me about this club is usually if you have 300 members you might have 10 undesirable members. Here you had the absolute opposite. Members complained that their phone call wasn't the first one picked up to make the first tee time for the weekend. Members who lived on or by the course would just walk out and play without properly checking in the golf shop and with incorrect golf attire (this was daily and yes it would happen on Saturday mornings with a full tee sheet). You would get calls to go out on the course to correct a golfer or group and the next day the member who complained would commit a severe infraction (playing a “6” some - but it is ok because they are on the board and they are playing a 2 man scramble). People would walk their dogs on the course. Fat women members actually made a high school aged girl cry because her shirt showed a little stomach when she made a full golf swing (the back of the shirt stayed tucked in). These are just things off of the top of my head.

IRI Golf Group and Oakridge CC are the reasons I left the golf business. IRI has been the reason a lot of pros and assistants have gotten out of the golf business.

I giggle that this course closed.

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#3 UPDATE EX-employee responds

Goatridge CC

AUTHOR: Garland - ()

I had worked at Oakridge and as a golf pro it is demoralizing for IRI to run their operations the way they do. The staff understood the course was in bad shape, range was in bad shape, club house was in bad shape, food wasn't good, bills weren't paid so we couldn't order gloves, balls, apparel, etc. Bitching at the guy behind the counter is about as useful as bitching at the guy in the gas station about the price of gas. An assistant golf pro probably makes $8.50 - $12 an hour and really wishes you would either shut up or choke on your sandwich.

The thing that got me about this club is usually if you have 300 members you might have 10 undesirable members. Here you had the absolute opposite. Members complained that their phone call wasn't the first one picked up to make the first tee time for the weekend. Members who lived on or by the course would just walk out and play without properly checking in the golf shop and with incorrect golf attire (this was daily and yes it would happen on Saturday mornings with a full tee sheet). You would get calls to go out on the course to correct a golfer or group and the next day the member who complained would commit a severe infraction (playing a “6” some - but it is ok because they are on the board and they are playing a 2 man scramble). People would walk their dogs on the course. Fat women members actually made a high school aged girl cry because her shirt showed a little stomach when she made a full golf swing (the back of the shirt stayed tucked in). These are just things off of the top of my head.

IRI Golf Group and Oakridge CC are the reasons I left the golf business. IRI has been the reason a lot of pros and assistants have gotten out of the golf business.

I giggle that this course closed.

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#4 Consumer Comment

Jeff Silverstein Carolina Trail

AUTHOR: newaukumgolfer - ()

 CHARLOTTE, N.C. — After an Eyewitness News story on Tuesday about employees who say they weren't getting paid at a local golf course, Eyewitness News was inundated with emails, phone calls and text messages from people at other courses who said the same happened there. All the courses are run by The Carolina Trail, which runs seven courses in Charlotte. People who reached out to Channel 9 said employees were not paid on time and courses were going "downhill." Eyewitness News first started investigating issues with The Carolina Trail courses in May, when a member of the Birkdale Golf Club in Huntersville told us about trash that was piling up. They wondered what was going on, and neighbors near the course complained about the smell. Then on Tuesday, six employees at Highland Creek Golf Course in north Charlotte didn't show up for work. They said they were fed up because they hadn't been paid in weeks, and that wasn't the first time it had happened. As Eyewitness News started researching problems here, we found several articles from at least three other states that referenced similar problems with golf courses. The articles and the emails we received mentioned a man by the name of Jeff Silverstein, former chairman of the IRI Golf Group, which used to own the Carolina Trail. That worried some members at Skybrook Golf Club in Huntersville. "I'm concerned about the golf club. I don't know if they're going bankrupt or not," said Eric Moskowitz. Ron Hall said, "I feel a little foolish because I did do a legacy membership and put a lot of money into the course." Earlier this week, when Eyewitness News looked into the Carolina Trail's financial problems, we were told IRI is no longer in the picture. Instead, several entities now owned the courses. We have since learned Jeff Silverstein is connected to all of them. Now members we talked to want to know if Silverstein is a legitimate businessman. So Eyewitness News called Silverstein. We asked him how many entities owned the courses and what they were called. He said, "Well, there are seven different entities acknowledged, and I don't have names of all my entities." When asked about the financial problems at the courses, Silverstein said the courses struggled from the financial crisis that hit in 2008. "In the last 90 days, we've been able to pay off our debt at a discount similar to a short sale to where our debt on the Carolina Trail now is 50 percent or more reduced from what it was when the financial crisis hit, which gives us a much stronger capital structure which ensures the courses will be viable,” he said. He also said all employees have now been paid, and they will continue to be. "Going forward I do not anticipate any issues,” Silverstein said. When asked about the articles we found mentioning similar problems reported in other states, Silverstein acknowledged that two courses in Texas went bankrupt, but he said that is two courses out of 125 courses he owned in 30 years.

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#5 Consumer Comment

Still Begging for Donations!

AUTHOR: Soapboxmom - ()

Oakridge – Duck Creek Golf

Last Updated 5/3/2013

Thanks for visiting this webpage for updates on the status of the former Oakridge Country Club property.

There appears to have been no action taken by the Oakridge community in regard to organizing and engaging in dialogue with Duck Creek Golf, LP relative to the potential golf course revival. However, there have been many individuals who have expressed their support and willingness to assist with the process.

Duck Creek Golf, LP has created a simple Commitment Form agreement which can be accessed via a link HERE. This form enables interested Oakridge residents and other supporters of revival of the golf course to pledge their financial contribution to the effort. No money will be due or collected until the golf course is reopened for play, but a commitment will obligate a participant to make payment at that time. In the event that the golf course reopening does not occur by October 31, 2013 then no payment would be due. The Commitment Form provides for several levels of funding to be considered including a “write-in amount” blank. You may also make your commitment online via the registration link below.

As previously outlined, Duck Creek Golf has requested $400,000 in project funding assistance from the community. With close to 1,200 homes in the community that would equate to approximately $350 per home if all participated. It is very unlikely that anywhere close to all homeowners will participate, so those who do participate are encouraged to contribute more than $350. Certainly those whose homes back up to the golf course would benefit the most from a golf course revival so it would make sense that they might contribute at the highest level if they participate.

Duck Creek Golf requests that all who are willing to make a commitment please do so by Friday, May 17. We will then review the aggregate level of commitments received by that date and determine whether or not to commence work on the golf course renovation in 2013. If the determination is made to proceed, the work would begin immediately thereafter in concert with the summer growing season. Otherwise there would be no golf course renovation in 2013 and earnest exploration of other options for the property would begin.

Another meeting will be held at the former Oakridge clubhouse on Friday, May 10 at 5:00 pm for further discussion regarding the potential golf course revival. We encourage residents and others who plan to support the project to attend in hopes that we can have a positive and productive discussion. There will be an opportunity for questions and further detail regarding the project at the meeting. All Oakridge community residents are asked to pass word along to neighbors who might have interest in attending. We ask that those who do not support the project or wish to engage in positive discussion please do not attend.

You will find links below to various pertinent information.

______________________________________________________________________________________________________________

________________________________________________________________________________________________________________

The buffoons who bought the remains of our neighborhood's country club are again begging for donations. Why in the hell would we gift them a dime? We get no chance of any return on our investment, no membership benefits or use of the facilities. They are offering us absolutely nothing. Who in their right mind would agree to these terms? Since when is it ethical or reasonable for business people to bilk the residents for a project they chose to take on of their free will. This is not a community park or anything that would benefit everyone in this area. It is a private business venture that has little chance of succeeding based on the past history of this golf course.

We were members of the neighborhood association for many years. The Oakridge Neighborhood Association needs to quit putting these solicitations on their website.  This is beyond ridiculous!!!

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#6 General Comment

City golf can be saved tucson

AUTHOR: newaukumgolfer - ()

The TucsonCitizen.com article on March 18, "Tucson must face facts: City golf cannot be saved" implies that the city should stop trying to find ways to save golf and instead start finding other uses for its five golf courses.
The TucsonCitizen.com piece would have us believe that the city has tried everything it could to fix city golf. But what has the city tried before? Asking Parks and Recreation to turn things around? Holding meetings? Waiting for the economy to get better? Perhaps, but what actions were actually taken?
Instead of giving up as the article suggests, this mayor and City Council should be applauded for finally holding Parks and Rec accountable and insisting that the city solicit ideas and suggestions by issuing a request for proposals to privatize city golf operations. It's noteworthy that 21 professional golf management companies responded believing that they can make money on the five city golf courses.
Finding other uses is a worthy exercise. But what other uses are under consideration? More parks? Has anyone asked if parks are more affordable? Or, are more parks needed, and are they needed at the El Rio and Enke golf courses locations?
The article also suggests that the city would save money by converting golf courses into parks. Here are a few facts: In 2012 each city resident paid about $94 to subsidize parks and $1.16 to subsidize losses at the five city golf courses. Parks have little economic impact while city golf's local economic impact for 2012 was more than $26 million, and golf contributed $1.2 million in revenues to the city for reclaimed water.
In a recent comparison of similar cities, Tucson parks were either first or second in the number of game fields, outdoor pools, game courts and park employees per resident. More significant is the fact that Tucson's park subsidy rate (90 percent) was the highest of the cities studied.
If more parks are needed, are they needed at the El Rio and Enke locations? El Rio is in Ward 1, which ranks first with 41 percent of Tucson's total park acreage located within its boundaries. Enke, located in Ward 4, is second with 17 percent and the other four wards have a 14 percent, 10 percent, 9 percent and 7 percent share of Tucson's total park acreage.
Privatization of city golf courses conjures up fears that the city will hire either operators who can't perform or smart private operators who take all the money and leave the golf courses in poorer condition. More realistic may be the concern that golfers will have to pay more to cover the operator's additional costs of corporate overhead and profits.
There is another solution, and it has worked well for more than 30 years in managing municipal golf courses. Privatize as a nonprofit. Tucson Golf Inc. (TGI), a newly formed community managed nonprofit, was organized specifically to address city golf's issues of affordability, financial sustainability, privatization and community control.
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#7 General Comment

Southern Arizona golf picture grim

AUTHOR: newaukumgolfer - ()

For decades, Tucson's growth traced the edges of golf course after ever-longer golf course as developers sought premiums on lots adjacent to a sea of rolling emerald turf.But that's history.Largely because of changing demographics and rising water costs, real estate experts say the golf mecca of Southern Arizona has likely seen its last new course.David Mehl, president of Cottonwood Properties, is among the last to directly benefit from the formula that helped define Southern Arizona as a golf vacation and retirement destination.He has between 300 and 500 lots left to sell at Dove Mountain and reports the premiums for lots right along the fairways are rising as their scarcity increases.For a new course to open, "not only would you need an economic recovery, you would need something dramatically different in golf economics," he said. "Everything is going in the wrong direction. It's not going to go away."By "everything," Mehl was referring to golf play decreasing, club membership declining, and fewer players willing to pay daily greens fees - all of this as water rates continue to climb.The developer at both Dove Mountain and Westin La Paloma said he would not build another golf community. He's considering incorporating open space in its place.other amenitiesMehl is not an outlier. While most developers shy away from ruling out golf completely, they agree that making a new course viable would take special - and increasingly rare - circumstances.A discussion paper recently co-authored by Rancho Sahuarita developer Bob Sharpe for the Urban Land Institute summed up the pervasive post-recession view: "Amenity packages in the future should be well thought out to be sure the maintenance costs are relatively inexpensive. Stay away from golf courses."Sharpe himself took that advice. There is no golf course in Rancho Sahuarita, though there are several nearby. Instead, there is an aquatics center, among other amenities.the paper, "Residential Futures: Thought-Provoking Ideas on What's Next for Master-Planned Communities," collected perspectives from prominent developers. The topics were broad, but not so much the outlook on golf.In another passage, the authors wrote: "Certainly golf courses have continued to slide as a required amenity, confirming a 30-year trend and the family market's historical low ranking of golf as a recreational preference."What will be built will be based on painstakingly careful market studies, said Bill Kelley, chief financial officer at Diamond Ventures."It's going to be more selective in how it's done and the benefit to the community," he said.Whatever goes in will certainly feature more desert landscaping, Kelley predicted. "No one's ever going to build a Tucson Country Club again."Conversions likelyExisting golf courses have been cutting down on irrigation and will likely continue, experts say.Transition areas have been left to brown, with drought-tolerant plants eventually added in their place.Within two years the water savings might not be enough to keep courses solvent, predicts Jerry Hawkins, a longtime local commercial real estate broker with CBRE Inc."As the market recovers and people see that the golf market hasn't really recovered, you'll see people having to face these really difficult decisions," he said.Hawkins anticipates that some courses will shorten holes or even switch some or all holes to alternative uses.Ideas being batted around now include urban gardens, walking and birding trails and water retention basins.One closed golf course in the Phoenix area was transformed into an apartment complex and commercial center.Such a transformation is unlikely here because most courses are lined with houses, and the neighbors would have to accept a rezoning.But more than one developer has gotten out a pencil to consider how one of Tucson's struggling municipal courses might be converted into homes or stores.Varied challengesThe forces putting pressure on golf are not new. Courses never were the cash cows they were supposed to be, developers and course managers said.The golf building boom in the 1990s was fueled by Wall Street speculation that made assumptions about golf based on resort trends, but the costs of operating a course have long been enormous.Southern Arizona courses were encouraged to use treated effluent known as reclaimed water to irrigate their greens as early as the 1980s.Some courses got specially negotiated rates, but the standard rate has risen about 40 percent over the past 10 years.That's despite a yearly subsidy from potable-water customers that in the past decade has ranged from 3 to 28 percent of the cost of providing the reclaimed water.The proposed subsidy for the fiscal year beginning in July amounts to more than $2.2 million, or 19 percent of the service's cost, Tucson Water officials said.at the same time, fewer people are playing golf.Rounds played at Pima County courses declined about 1 percent from 2007 to 2011, according to Pima County Assessor's Office records.More recent records were incomplete, but they show about one-third of the area's courses had a decrease of more than 10 percent from 2007 to 2012.he players who do show up are, in general, paying less, operators say.Several high-end resort courses have opened to the public at least part of the time, forcing beleaguered public courses to compete with Westin La Paloma, for example, which benefits from hotel revenues to pay summer maintenance costs and recently invested $30 million in renovations, including nearly a half-million to import fine white sand from San Juan Capistrano.What happens when you go to Ventana and see the conditions, then you go to Randolph?" asked Mike Hayes, Tucson's deputy parks director, referring to a Catalina Foothills resort and the most financially successful of the municipal courses.There are cultural changes, too. Few young people play golf. Fewer corporations invest in golf activities, and nine-hole specials are popular because they cut down on the hours invested."One of the reasons that I don't play so much is that it takes so much time," said Rob Longaker, senior project manager for Desert Springs, a proposed Oro Valley real estate project that recently canned its golf course plans.Of the existing courses, Tucson's municipal ones are perhaps the closest to possible closure, racking up an $8 million deficit the City Council has said it's tired of covering.City reviewing biddersIn searching for solutions, the city has begun reviewing the qualifications of bidders interested in managing its five golf properties.But even a contract won't necessarily save all of them."The majority of bidders will probably take the top two or three," said Craig McDonald, director of golf operations at Southern California Golf LLC, one of almost two dozen organizations interested in the contract. "Management doesn't like taking the dogs."His company, like virtually all golf operations these days, describes its focus as "trying to create more golfers."That means reduced prices for junior golf, expanded training programs and more family friendly events held at golf courses.Even Troon, a top-tier management company, has opened some of its courses to alternative uses, from walking nights to Tough Mudder competitions.Because of market oversaturation, "we're just having to think differently," said Tom Enders, the company's vice president of sales. "There's no one thing that's going to turn the industry or a club around."
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#8 General Comment

LOOKS LIKE A LOST CAUSE

AUTHOR: newaukumgolfer - ()

SORRY YOU FEEL THIS WAY. AS BANKS CONSIDER GOLF COURSES TOXIC ASSETS AND DON'T LOAN MONEY ON THEM ANY MORE IT LOOKS LIKE THIS FACIITY IS GOING TO WASTE LAND AND THE PROPERTY VALUES IN THE DEVELOPEMENT WILL NEVER RECOVER. ITS A SHAME BUT HERE IN TUCSON ALL THE GOLF COURSES ARE STRUGGLING TO KEEP OPEN AND THERE WILL NEVER BE ANOTHER PRIVATE COURSE HERE IN SW ARIZONA THEY ARE ALL TAKING DAILY FEES TO TRY AND STAY AFLOAT. I JUST THOUGH THE COMMUNITY WOULD BE WILLING TO TRY AND KEEP IT OPEN BUT IF THEY FEEL THIS WAY IT TIME TO PULL THE PLUG AND GET IT OVER, BECAUSE WITHOUT THERE HELP IT WILL NEVER BE AN ASSET JUST AN EYE SORE. THEY COULD MAKE A PARK OUT OF IT BUT THAT WOULD COST AS MUCH WITH NO REVENUE TO HELP MAINTAIN IT.

I WISH YOU AND THE OTHER  PROPERTY OWNERS  ALL THE BEST THERE ARE A LOT OF GOLF COMMUNITIES IN THE SAME BOAT ITS A TOUGH DECISION TO MAKE!
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#9 Consumer Comment

The Oakridge Country Club's History

AUTHOR: Soapboxmom - ()

Sadly, the majority of the property is in a flood plain and cannot be developed. The land will need to remain a golf course or something similar. So, I suspect the new owners are having serious buyers remorse.

My father was one of the original builders in the subdivision. It was supposed to be all 2500 square foot and larger custom built, luxury homes. That did not happen. There are cheap apartments, small tract homes and many garden homes along with a few very nice custom homes.  The neighborhood could never have supported any kind of private golf centered country club. 

The club has struggled for 30 years. It has been boarded up by the IRS twice I believe. It has changed hands several times and was underwater in Titanic proportion by the time it went belly up in 2010. 

The bank that got stuck with this mess was desperate to unload it. They sold it for $450,000.00 cash. It is in such horrible repair it could hardly be given away. The course needs extensive work. 

The pool, tennis and dining operations are supposed to be spun off and sold, but I doubt that will happen. The pool is a crappy little pool with no shade, slides or amenities and is probably not repairable. The tennis courts need to be resurfaced. The tennis shop and pool building is apparently in very bad shape. The clubhouse, where the dining room and kitchen are housed, was flooded in 2011 and is in need of serious work.

With 100 holes within a few minutes, it is quite possible that Oakridge will not be able to draw in enough golfers to stay in the black. It has struggled for 30 years and I see no reason to think a daily pay fee course will be any more successful. There is a reason that the new owners paid cash. No bank would give anyone a dime for this property I imagine.  No investors are involved that I am aware of. Local residents did look into buying the club and after doing their due diligence decided not to
pursue it. It reminds me of the movie The Money Pit. They saw that it was not economically feasible to go forward.

If we give them $400,000.00 (and that would be only the few of the 1200 willing to throw their cash at them) and it goes belly up again we would be right in the mess we are in today. The new owners want the money without having to agree to anything. There would be nothing to stop them from taking the money and running leaving the homeowners with no
recourse.

The owners asking for a gift and refusing to give us any membership,  ownership share, decision making rights of members or anything else is  the exact reason I am dead set against this ridiculous concept plan.
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#10 General Comment

Property Values

AUTHOR: newaukumgolfer - ()

If your community wants to retain its property values They either need to help subsidize there course or buy it back and run it themselves. This is reality in today's golf Market. As a property owner in a golf community that owns there golf course it cost each owner $200 to $400 each year to assure we have this asset for our community.
The plan put forward by your courses new owner sounds like a sound one and would be less expensive for the community.
Property Owner
Waikoloa Village Hawaii 96738
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#11 Consumer Comment

Oakridge Country Club New Owners

AUTHOR: Soapboxmom - ()


FORMER OAKRIDGE COUNTRY CLUB PROPERTY
Concept Plan February 2013

Historical Perspective

Oakridge Country Club experienced moderate success in the late 1980s and 1990s as a private country club operation
under multiple owners. In 2001 the property was purchased by an affiliate of IRI Golf and began an
operational decline which led to closure of the golf course and ultimate lender foreclosure in late 2010. The golf course
and club served as the hub of the Oakridge community for almost thirty years, fostering strong property values and
community pride.

Since the closure of the golf course, property values have declined and an air of substantial uncertainty has existed within the community.

In October 2012, Duck Creek Golf, LP was formed and purchased the former golf course and club property from
Hillcrest Bank. Duck Creek Golf, LP is an affiliate of Austin based golf course investment and management company, OnCourse Strategies, in partnership with Larry Galloway,  a Dallas area resident and golf industry veteran.
The property was purchased with the intent of analyzing the feasibility of revival of the golf course operation or potential
portional resale of the property.

Analysis Summary
Through months of physical plant evaluation and market study, Duck Creek Golf, LP has determined that there is feasibility potential in the establishment of a mid-market daily fee golf course operation on the property.  There appears to be no economic viability to
revival of a full service private country club.

In order to focus on daily fee golf operations, the  ownership group intends to sell the swim and tennis facilities to someone interested in that business operation or for a compatible repurposing of that portion of the property.
Additionally, a daily fee golf operation requires a less extensive clubhouse facility than the total complex available, thus
options are being explored for the possible lease of a portion of the clubhouse to a banquet and catering operation.

Since the clubhouse suffers from water damage which occurred in early 2011, plus the deterioration of non-use
for two and half years, there are extensive repairs necessary to the building. One level of repairs would be required to
ready the building for a daily fee golf operation and  another level would be required to make the building fully
operational for a banquet, dining or catering operation. The golf course has reasonable coverage of turf which can
be cultivated and revived in most playing areas. However, the greens must be replanted and extensive work is required to renovate or remove golf course bunkering.
Substantial cleanup of fringe areas of the golf course along with extensive repairs to the irrigation system will also be required.

Forward Direction

Provision of a quality daily fee golf course operation is anticipated, which requires less physical plant than a country club operation.
Conversations are underway with several parties interested in purchasing the swim and tennis  facilities along with a portion of the paved parking area.

Efforts will be made to secure a viable purchaser of that property by April. Discussions have also been held with banquet and catering operators and those will continue. If an acceptable option can be identified, then an arrangement will be made with that operator and the full clubhouse would be repaired for dual use. If no acceptable option comes forth,  then only a portion of the clubhouse would be repaired over the next four to six months for use in a daily fee golf operation.

With the Spring bermuda grass growing season approaching, golf course turf restoration would begin in April.
Ground temperatures would not allow replanting of greens turf before early to mid-May with a 60-75 day growin period required to reestablish putting surfaces.

Bunker work and irrigation repairs would be completed between April and June.
Additional work would be required on the driving range and practice putting green areas. A fleet of maintenance
equipment would have to be put in place to begin golf course restoration and an aggressive project plan would produce
a playable golf course by mid-summer 2013.

Project Criteria

The viability of a quality daily fee golf operation is predicated on a low property investment basis
and efficient operating structure coupled with development of a strong customer base and revenues. These components
are vital to establishment of a long term, healthy golf course operation. The symbiotic relationship between the golf course
and surrounding residential community is also a very important  component to their mutual success and vitality.

For the golf course to be fiscally sound, the community must support it, which in return  leads to enhancement of the community reputation, pride and value.

Duck Creek Golf, LP has made initial cash investment to acquire the property and bears the ongoing maintenance
and holding costs. This ownership entity expects to recover some investment capital through sale of the swim and
tennis property and anticipates making substantial  additional investment in golf course and clubhouse
repairs and renovations. However, to proceed with revival of the golf course and to complete the project with a
comfortable investment basis, participation by the community is necessary.

The community has suffered material impact to property values over the past few years and would conversely
experience favorable value enhancement with a renewed golf course operation. Thus a viable golf course should be
of vital importance to both the community and property owner.

Oakridge is a community of almost 1200 homes with 400+ of them backing up to the golf course property.
To facilitate the golf course revival, Duck Creek Golf, LP needs a $400,000 collective capital contribution from the Oakridge community.

A community representative will be asked to work with residents to secure commitments for and collect these funds
to be held in trust.This community fund would be paid over to Duck Creek Golf, LP only after the golf course is
reopened for operation, but would be firmly committed before renovations begin. The funding would constitute a good faith
investment by the community in restoration of the golf course and enhancement of neighborhood property values. No ownership
or membership benefits would be vested in the contributing residents as a result of the community funding.

With a commitment of community funding, Duck Creek Golf, LP would proceed with golf course and clubhouse
renovations as outlined above with the comfort that it would have a favorable investment basis in the property.
Again, given the high cost of operating a golf course and the many associated risk factors, a low ownership basis in
the property with minimal debt service is paramount to financial stability.

Under this plan, the golf course would reopen by mid-summer as a daily fee golf course and grill
operation offering daily fee pricing as well as a variety of annual golf memberships. With the anticipated cost basis
and given the experience and expertise of the ownership principals, the likelihood of immediate and sustainable operational success is very high.

Summary
Duck Creek Golf, LP principals will meet with Oakridge community leaders and residents regarding details of
the project, with expectation that the community leaders would determine the means and process for the community funding.
A bilateral specific performance agreement would be structured with community funding to be in place by March 31, 2013.

The concept herein is for information and discussion purposes only and does not constitute a formal agreement or obligation of any parties mentioned. Further discussion and planning will be required to facilitate action or an agreement.

For Discussion & Additional Information Contact:

J. Michael Ussery
Larry Galloway
ussery@oncoursestrategies.com
lg9295@gmail.com 

512-347-1244
972-832-1573

I don't believe for a second it is in the best interest of our community to gift these new owners $400,000.00. 

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#12 General Comment

Who is Jack

AUTHOR: newaukumgolfer - ()

All the IRI golf report rebuttals are from Jack Guess who (Jeff Silverstien) I hear he just put on a 6 figure wedding for his daughter
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#13 General Comment

jack

AUTHOR: Jack - (United States of America)

You are totally wrong. If you are so unhappy quit your job. If the company is so bad why have you stayed. I know they have had their issues,but you are totally off base.
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#14 UPDATE Employee

You are wrong

AUTHOR: trail employee - (United States of America)

The reason for this golf course closing, just like all the others that the con-artist Jeff Silverstein has run into the ground, is because Silverstein doesn't care about his employees, the course or any of the members.  History shows this to be accurate.  He refuses to pay his employees and when he does, the checks bounce a lot of the time.  I work at one of his NC courses and he is doing the same thing that he has done to the courses out west.  Runs them into the ground and closes the doors owing tons of money in debt to vendors and employees.  He squeezes them dry until there is no more money to be made out of them and WHAM...leaves everyone form members to employees high and dry.  He owes everyone at our courses 3 paychecks to date and relays no information as to when we will get paid, if we ever will. THIS MAN NEEDS TO BE IN PRISON. If we didn't pay our debts and bounced cheks like he does, thats where we would be.
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#15 General Comment

Jack

AUTHOR: Jack - (United States of America)

golf courses are closing all over the country. The reason Oakridge went into bankruptcy is the lender was taken over and no debt was available for golf courses. The company lost millions and those are the facts.
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#16 General Comment

Country Clubs

AUTHOR: Travis - (United States of America)

To be honest, in today's economy it is hard to find sympathy to the conditions on your private country club golf course. Although it should be suggested to local businesses that the land should be purchase and maintained by the city of Oak Ridge and the course opened to the public. Either that, or the land should be developed into low income housing. There are better uses for that land and the club (if repaired) should be open to all Oak Ridge citizens for free.

As the great Rodney Dangerfield once said "Golf Courses and Cemetaries are the biggest wastes of land".
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