The Country Club (Young) 1981I
The Country Club
After the Rosses bought the forth Palm Beach
land area in 1956, extensive improvements were
made in the 18 -hole golf course. Several new holes
were created, fairways widened, and greens rebuilt.
The result was a more playable course. The old
Winter Club was refurbished, kitchen equipment
installed, and meals served. In late 1959, informal
talks between the owners -and the village council
indicated a possible sale of the entire property, and
the village was given the first refusal in that event. In
January 1961, notice was given of the intention to
sell, and the village was given time to make a study of
the question.
The council spent considerable time investigating
the advisability of purchasing the property and was
assisted by a seven -member citizen committee ap-
pointed by the North Palm Beach Civic Association. It
was decided to hire the Charles M. Graves organiza-
tion of Atlanta to prepare a feasibility study, a plan of
development, and a schedule of anticipated income
and operation costs. This was done, and it was
unanimously decided that the village should go
ahead and develop the area into a recreation center.
$1,015,000 was set as the price for the existing
country club of 145 acres plus all buildings, golf
carts, sprinkler systems, trucks, equipment, and
including attorneys' fees, bonds, and marketing
expense. An additional $415,000 covered the swim-
ming pool, dressing, shower and clothes checV..
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building, golf shop, locker rooms, dining room facili-
ties and an expanded parking area. This made a total
of $1,430,000. The council took great pains to in-
form the residents at each step of the process; all
questions were answered. The next step was to put it
up to the people. A special referendum election was
called for July 25th to determine the matter of issuing
$1,430,000 of general obligation bonds to purchase
and develop the North Palm Beach Country Club.
The result was 601 FOR and 80 AGAINST. The
bond issue was duly validated by the Circuit Court of
Palm Beach County and the Supreme Court of
Florida. The bonds were sold at an interest rate of
4.07335 per cent and the last payment will be made
in 1988.
Putting a value on the property today in 1981
would indeed be a classic exercise for a team of
appraisers. The pleasure for generations of old and
young is beyond estimation.
The North Palm Beach Country Club.