Plans for an New OVA Committee Come Into Focus [OGC]

On November 10, 2017 The Oakmont Golf Club (OGC) held their first Town Hall meeting, telling the audience ways in which the OVA might provide financial support for the golf operation. – Kenwood Press article

OVA’s agenda to create a committee for 2019, albeit long-overdue, is a good step in the right direction. An ideal framework could look like this:

• There are no predetermined member appointments by the board. Applications to join the ad-hoc committee are open to all OVA members.
• Committee members can have NO direct affiliation with OGC. Rather the committee represents a cross-section of OVA residents on both sides of the issue.
• This is not an OVA/OGC ad-hoc committee, rather it is an OVA representative committee independent from any such similar OGC committee.
• The OVA committee is advised to retain professionals, such as golf industry–related real estate, legal and tax experts to assist the committee and community with pertinent information.
• Committee meetings will remain open to the community and information will be made available to OVA members.

The crux of the issue facing this new committee is as simple as what is the value of the OGC assets to OVA. With approximately $2.5 million in liabilities, an outside investor could purchase OGC with the intent of holding on for the long haul. Alternatively, OVA could acquire the assets while controlling the future of the 225 acres of open space.  

Should this discussion occur now and a decision made with due deliberation, or should it be made in haste once OGC can no longer meet its debt obligations?

Reference: OGC coverage on the Observer