Local effort underway to purchase La Porte Golf Course | Vinton Logs

About 60 community members gathered at the La Porte City Community Center on Monday to hear a proposal to buy the local golf and country club, which suddenly announced it would close on September 10.

“There’s an asking price listed at $400,000,” Matt Craft said. “It basically gives you a turnkey business. The land, the equipment, the remaining inventory. Everything they have is included in that $400,000 price tag.

The announcement of La Porte City Golf and Country Club‘s closure came from their Facebook page on Wednesday. Craft and Corey Lorenzen heard talk and rumors about the property closing. This is not the first time the golf course has been closed, being acquired in the fall of 2019 by Schatz Inc. and allowing the course to continue operating. The current owners of the title have given September 10 as the deadline for submitting an offer.

“We had great conversations with them and reviewed the strengths of the course,” Craft said. “

According to Craft, there are generally three ways to own golf courses in Iowa: private ownership, as a nonprofit, or a private owner/group leasing the property at a profit/nonprofit. . He estimated that 75% of golf courses in the state are run under the not-for-profit model, and the model according to Craft and Lorenzen has the best chance of succeeding in such a short time.

“This model also takes the most leg work,” Craft said. “We are asking for pledges of money so Corey and I can form a non-profit corporation. This company then signs a purchase contract with the owners. We would close in 30 days, more or less, after verification of title. We would then ask that these promises go to the bank. This is the money we would use to purchase the golf course on behalf of the non-profit corporation.

Craft and Lorenzen have already accepted pledges from residents and interested parties to begin “to be proud of.” Monday’s meeting allowed the pair to present their plan to interested community members, hoping the meeting will lead to more pledges.

“I know that’s a big ask,” Craft said. “That’s a lot of money we’re talking about. We only request the pledge amount for Wednesday and then turn that pledge into cash in about 30 days.

Both Craft and Lorenzen answered questions from the community ranging from possible city or school district contributions. Lorenzen, chairman of the Union School Board, said both entities have their interest in helping, but are limited by the fact that the golf course is county property and not within city limits. Union golf teams train and meet on the course each season, and the cross country team will host a meet this Thursday and their conference will meet Oct. 13.

“We’ve had many conversations with city officials and there’s definitely a willingness to help in any way,” Lorenzen said. “They were involved in those conversations.”

For more information on this effort to purchase La Porte City Golf Course, contact Matt Craft at 319-230-8637 or Corey Lorenzen at 319-269-7152.

Comments are closed.