Wednesday, February 6, 2013
Cherry Creek, though operated by Golf Facilities, Inc., is owned by Shelby Township, which receives rent from GFI as a tenant.
Shelby Township has agreed to defer $1.3 million in rent from Cherry Creek Golf Club in exchange for Cherry Creek’s commitment to make a minimum of $1.6 million in capital improvements to the property over the next eight years and extend its current lease until 2062. The township board voted 5-1 Tuesday to approve these lease amendments, with Trustee Nick Nightingale casting an opposing vote and Trustee Doug Wozniak absent. Under the amended lease terms, Shelby Township will defer Cherry Creek’s rent for eight years and eliminate the guaranteed monthly rent payments in favor of a quarterly pay schedule. In return, Cherry Creek will invest the monies that would have otherwise been used for rent in a series of renovations. The company has …
Tuesday, February 5, 2013
Proposed renovations include additional outdoor dining options, expansion of the white tees and construction of a new building that will make the existing clubhouse "banquets only."
In exchange for an adjustment to its existing lease and rent, the operators of Cherry Creek Golf Course say they will commit to making some $1.6 million in capital improvements to the property over the next eight years. The Shelby Township board is due to consider Cherry Creek’s proposal during its regular meeting at 7 p.m. today in the township municipal building on Van Dyke. Under the proposed terms, Shelby Township would amend its existing lease agreement with Cherry Creek to abate or defer the company’s rent for eight years as well as eliminate the guaranteed monthly rent payments in favor of a quarterly pay schedule. Cherry Creek's side of the bargain would include committing to an eight-year, $1.6 million capital expenditure campaign…
Tuesday, July 26, 2011
Patch has an inside look at the Utica High School renovation project for the upcoming school year.
Walking through the renovation project at Utica High School in late July reaffirms my faith in modern technology and the power of the construction worker. In less than six weeks, phase one of three will be completed, just days before students return to school for the 2011-12 school year. The multi-year construction project will result in some of the most ambitious facility improvements in the school's history. When the projects are completed in August 2013, the school will have a new media center, science classrooms, a new administration office, easier access to the auxiliary gym, improved mechanical systems, upgrades to its hallways and a more secure building entry. Before school begins this year, work to relocate the school's wrestling, …
42.642334
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Utica High School
47255 Shelby Rd, Shelby Township, MI
/articles/video-utica-high-undergoes-massive-renovations
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Geoff Hoffman
10:40 pm on Saturday, February 23, 2013
I understand that while some board members wanted the deferral shortened to 5 years the response from the bank was that they "preferred an 8 year deferral". So the board caved and agreed to the 8 years. This doesn't make sense. If the bank said they required an 8 year deferral then I might have agreed but they only "preferred an 8 year deferral". It was really Golf Facility Inc. that wanted the 8… more ›