Oceola Township (Livingston County, Michigan) approved the purchase of this facility at a meeting on December 27, 2010. The $750,000 price tag includes all equipment and the liquor license.
The facility will be operated by an outside organization but ownership will be retained by the Township and no tax dollars are expected to be used for operations.
This puts to rest the periodically turbulent proposals by investment groups to transform the 150+ acre parcel into either a residential development, or more recently, an RV park.
After a long history as a private club, Chemung Hills could no longer operate profitably in that form. It became a public golf course while it searched for possible buyers.
In 2003, two Farmington Hills developers wanted to convert it to a 300 unit residential project where home prices would start at $300,000. The lack of sewer service made that plan problematic. A 600+ site RV campground proposal came about in 2008, but again, zoning and infrastructure issues prevented it from occuring.
In the fall of 2009, the facility went into receivership and was
operated by Osprey Recreational Properties while a purchaser was sought.
This is a wonderful recreational facility and a great small to mid-size banquet facility, too. Beautiful setting, desirable amenities and good food have always been the standard here.
Oceola Township now has a great facility that should be self-supporting and will insure that we keep a great local golf course
and banquet center open.
Wednesday, December 29, 2010
Friday, December 03, 2010
Great News For Buyers!
Legislation supported by the Michigan Association of Realtors (MAR) to allow foreclosed properties to keep their principal residence exemption has passed the House & Senate. This important legislation is expected to be signed into law by Governor Granholm within days.
The high number of foreclosed properties on the market lose their homestead exemption and cost buyers, often new homeowners on a tight budge, a lot of extra money in property taxes. This means they can qualify for lower overall mortgage amounts, and since these buyers often have tax escrows, an have a lower monthly payment, too.
For full details, read the entire legislation at http://legislature.mi.gov/doc.aspx?2009-SB-0077
The high number of foreclosed properties on the market lose their homestead exemption and cost buyers, often new homeowners on a tight budge, a lot of extra money in property taxes. This means they can qualify for lower overall mortgage amounts, and since these buyers often have tax escrows, an have a lower monthly payment, too.
For full details, read the entire legislation at http://legislature.mi.gov/doc.aspx?2009-SB-0077
Subscribe to:
Posts (Atom)