Council OKs lease with Touchstone
Touchstone Golf was awarded a five-year lease agreement to manage Lady Bird Johnson Municipal Golf Course on Monday, Nov. 20 by the City of Fredericksburg.
As per the lease agreement, upon the golf course generating positive cash flow for a full year in an amount of equal to or greater than $100,000, the city will receive 70 percent and Touchstone will receive the lesser of $60,000 or 30 percent of the cash flow.
“Revenues will increase … One way is through an improved marketing program and special events and getting the local citizens out there,” said City Manager Kent Myers. “You’re going to see an immediate decrease in cost, particularly on the personnel side and also, they have access to pricing on supplies and materials. We’re going to see those costs come down.”
Touchstone will begin managing and overseeing operations of the golf facility on Jan. 1, 2018.
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