Spring time is approaching, and Bunker Hill Golf Course is preparing for the 2015 season. Approval of new equipment for the course was granted by the Coon Rapids City Council on Feburary 3rd. Council has opted to partake in a lease to own contract, which will be carried out over the course of five years.
With this lease, the Golf Course will gain 100 golf carts, 6 gas-maintenance vehicles and two electric maintenance vehicles. The agreement has been signed with Versitile Vehicles. Also, the course will buy two mowers for the greens, and two mowers for the fairways from MTI Distributing.
All together the equipment totals a net cost of $151,737. This total includes sales tax and trade-in value. In addition, the course will be purchasing a used six-person people mover and three hospitality vehicles from Club Car. The total for this equipment with sales tax is $20,657.
Bunker Hill’s Finance Director, Sharon Legg, has announced that all leases and purchases are being funded through the courses financial budget. In the fall, a request for bids was made to see what options made sense in regards to obtaining equipment. Once bids were reviewed, it was decided by the staff at Bunker Hill that a lease to own option over a five year period fit the course’s budget plan.
There is a 2.5% interest rate with the lease option, but this is before trading in the courses current golf carts. The city’s cost of the lease came to $101,000. A state purchase agreement will be put in place for the 4 mowers bought through MTI Distributing. Leasing on the six-people mover and beverage vehicles were decided because financially it was a better option than buying.
Bunker Hill is well on their way to opening with a ready to operate course for the 2015 season.
Kris Lindahl Real Estate