ashe

I'll let you all in on a little secret. Golf courses rarely make money. Restaurants at golf courses almost never make money. Developers build golf courses and other club facilities to sell expensive lots. The ideal way to do this is build a course that is popular to create demand and then sell out your lots as fast as possible. Then dump the course to the membership for a song and a dance. Thats why most country club end up owned by the membership once the developer has sold the majority of the lots.

The cost of the upkeep and daily maintenance of a golf course is ridiculous.

It is a sad thing to see them in trouble again. That club has brought great revenue to this area. Many people came there to play golf and then moved on to purchasing homes and spending their disposable income on food, ABC and many other places-including going to churches in the area. I have heard from many members as well as people who have played or visited there and everyone has their own ideas as to why they have had their problems. My understanding is that Dean, old pro is now back. The facility has been short on funds for a long time. They cut back the operation hours at the clubhouse- lodge, etc. each year a little more and a little more so it did not happen overnight. At the end of the day it is Ed Rogers who took it over and it was his decissions that brought it where it is today. Interestingly during all this the Chamber elects him President & he was in charge of the tourism committee as well for years.

Well FINS it appears that Jefferson Landing LLC, Ed Rodgers et.al. have taken chapter 7 bankrupcy at the Landing. Jefferson Landing Development Co. Mark and Eddie Vannoy et.al. had received a court order to allow for the continued operations of the club to protect their collateral.

This is perhaps the worst possible outcome for the members at the Landing as the LLC assests will have to be liquidated to satisfy any creditors.


the LLC owns the golf club and the club house and other assorted property.

Wrong. Any foreclosure and any real estate transfer is public notice. Foreclosures are printed in the news paper and all real estate transfers are recorded in the register of deed's office for public record.

Fins; you are correct if bankruptcy is filed there are public notices required. If bankruptcy is not taken then no public disclosure to creditors is required. If the Vannoy's and their partners have for closed on an asset securing a non performing loan and choose not to sell that asset to satisfy the debt, it all continues to be private. Jefferson Landing LLC will have to deal with their own unsecured creditors as they see fit.

The folks who really need to know what is going on are the property owners at Jefferson Landing. I do believe that at the last POA meeting an announcement was made regarding this matter. So the folks who have a right to know have been informed.

Thats incorrect. Depending on their financial status (ie if the owners owe money on the development or not), their economic situation can be public information and must be disclosed.

Also, bankruptcy is public knowledge. When filed, it must be posted under the legal notices in the paper. This is to inform any creditors of the situation and that they may not get their money.

Its not just up to the owners.

Jefferson Landing is a private community, they will release whatever information they desire to. If you check the court filings from last week you may be able to determinen what has occurred at JL. Its happening all over the country, banks are taking back the collateral on non-performing loans.

Something like that could impact the county and people should know what's going on. Hopefully someone will have the story before too long. Sure hope it's good news .

In the GoAshe FAQ section:

6. What is the purpose of the Community Voice?
The Community Voice is an open forum, where people in the community are welcome to discuss just about anything that they want. It was originally designed for people to discuss current issues, but it has grown over the years to include many other local and regional topics.

I didn't see where it said "only what inmyownworld says can be discussed."

Jefferson Landing is a big place that impacts a lot of people around here.

Public forum...for public matters...not a public forum for people to mind private business.

I have an even better question: Why is it any of your business what is discussed on this forum? Get a grip...!

I have a much better question: Whose Business is it anyways what happened over there? Get a job...!

What? No way!!!

Who knows all the facts?