Indian Creek Golf Club January 5, 2016

Lakes/Creek Course – Recurring Cost **Eagle/Arcis estimated 30,000 rounds on the Lakes Course (April – December) **Eagle/Arcis estimated 12,700 rounds on the Creek Course (June 15 – December) *Does not include $334,158 General Fund Overhead Allocation *Does not include $407,628 (2016) Debt Service *Does not include $373,661 (2017) Debt Service Eagle/Arcis Operating Nov 15 – Dec 2016 $2,431,693 Cart Lease$136,000 City Operating (Nov 2015 – Dec 2016)$197,000 Ongoing Capital Maintenance$100,000 Total$2,864,693 **Est. Revenues$1,437,710 Nov-Dec 2015 Cost and 2016 Cost($1,426,983)

Creek Course – Non-Recurring Cost (Pre-flood condition) *Sand (1,600 tons to cover 70,000 sqft) – more sq. footage than Lakes *Fairway costs vary based on methodology and turf response Bunker Costs$340,000 Cart Path Repair$20,000 Restroom Repairs$25,000 Aerification$25,000 Pump & Fence Repair$10,000 Fairway Repair$270,000-$480,000 Total Range$690,000 – $900,000

Lakes Only vs. Lakes & Creek Course *Does not include capital costs for repairs -Lakes Course estimated $500,000-$700,000 -Creek Course estimated $690,000-$900,000 *Does not include $334,158 General Fund Overhead Allocation 2016 *Does not include $407,628 (2016) Debt Service *Does not include $373,661 (2017) Debt Service *Does not include potential reimbursements from FEMA for capital costs *Assumes Lakes Course opens in April, assumes Creek Course opens summer 2016 *Opening is weather dependent Lakes Course OnlyLakes & Creek Course Payment to Eagle$1,791,000$2,431,693 City Cost (Utility & Cart Lease)$293, 000$433,000 Revenue$1,017,000$1,437,710 *Total Expense Less Revenues (Nov Dec 2016) ($1,067,000)($1,426,983)

Creek Course – Potential Timeline Aerification - 1 in the fall, possibly 2 in the spring Planing – Can take place in March/April – takes 8 weeks of growing time Sprigging – Can take place in May – takes 90 days of growing time Sodding – Can take place in May – takes 60 days of growing time Depending on how the turf responds to each method, and which methods are required, the goal would be to open between June 15 – August 15, 2016.

Creek Course – Fairway Methodology Aerification$25,000 Planing$85,000 Fertilizer/Weed Control$15,000 *Sprigging$40,000-$100,000 *Sodding$130,000 – 380,000 -Step 1 – Aerification – Required -Step 2 – Planing – Very likely required -Step 3 – Fertilizer/Weed Control – Required *Step 4 – Sprig or Sod – Evaluate the success of aerification and planing efforts to determine how much sprigging or sodding is necessary