Revenues are up at the Iron Eagle golf course this summer, and the course could be on the road to some semblance of financial health, City Administrator Jim Hawks said recently.
Hawks said the bond that financed construction of the course in 1995 is now paid. The final payment was in December 2017. That saves the city about $250,000 a year.
Also, a professional golf course management company – Landscapes Unlimited – is no longer employed by the city, saving about $60,000 a year.
This summer, with no flood on the So. Platte River, the entire course is not only playable, but in the best shape it has been for a long time, Hawks said.
This year’s revenues are on track to set a record.
Hawks said measures have been taken to stem flood damage in the future, including the replacement of a bridge with a culvert.
With all that, the city is “much closer to break-even,” financially on the course, Hawks said.
Hawks made the comments in response to the Bulletin’s question during a press conference proposing a half-cent increase in the city’s sales taxes.
Iron Eagle has been controversial since it opened. It was intended to be funded by revenues from members, tournaments, pro-shop items and so forth, but losses quickly mounted and the financial burden was shifted to the taxpayers.
Critics say the course has lost the equivalent of $500,000 annually since it opened in 1995.