Golf Course Bond Issue - Election Results
For the Bond Issue - 251
Against the Bond Issue - 154
Golf Course Bond Issue
There was a town meeting on April 28 for all residents to discuss the golf course development and the bond issue that will be on the May 7 ballot. Residents have the opportunity to decide the future of Minerva Park.
The Minerva Lake Golf Course is in contract to be sold to and developed by Fischer Homes. Minerva Park has some options, and on May 7 you can weigh in about the future of the Village. There is a bond issue on May’s ballot. You can vote for the bond issue or against the bond issue.
If the resulting feasibility study supports a 9-hole golf course and Council decides to move forward with it, bonds would be issued for $1,400,000 to be repaid annually over a period of 20 years at 2.85 mills for each $1 of tax valuation, amounting to 28.5 cents for each $100 of tax valuation, first due in calendar year 2014.
Caveat Emptor - This recap presents factual information only and is not intended to persuade, either for or against the bond issue. It is provided so you can become familiar with MP’s ballot before you arrive at the polls. Study the issue. Make up your own mind. And then GO VOTE!
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If the bond issue PASSES ...
- The Village will be in a financial position to potentially acquire 50+ acres to support a 9-hole golf course (the final determination of which will be made after a feasibility study) or green space.
- The developer will build approximately 160 homes on the remaining golf course acreage in the price range of approximately $240,000.
Here are two potential build-outs, estimated 160-170 homes plus estimated 52 acres for a 9-hole golf course or green space (click on the thumbnail for a larger view) ...
POTENTIAL cost to MP property-owners ...
To view the potential cost for your property, visit the Franklin County Auditor's website. Search by your address and click - in the left menu - on "Current Levy Info."
| Your Property's ... | Cost per ... | ||
|---|---|---|---|
| Market Value |
Assessed Value |
Month | Year |
$100,000 |
$35,000 |
$8.31 |
$99.75 |
$125,000 |
$43,750 |
$10.39 |
$124.69 |
$150,000 |
$52,500 |
$12.47 |
$149.63 |
$175,000 |
$61,250 |
$14.55 |
$174.50 |
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If the bond issues FAILS ...
- The Village will not be in a financial position to potentially acquire any acreage for a 9-hole golf course or green space, so 50+ acres will not be set aside for that purpose.
- The developer will build approximately 300 homes homes on the golf course property in the price range of $180,000-$240,000.
Here is the potential build-out, estimated 300 homes (click on the thumbnail for a larger view) ...
POTENTIAL cost to MP property-owners ...
Not applicable.
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May 7 ballot language ...
#6 Proposed Bond Issue - Village of Minerva Park ... A majority affirmative vote is necessary for passage. Shall bonds be issued by the Village of Minerva Park for the purpose of acquiring, improving, equipping, and furnishing a municipal golf course in the principal amount of $1,400,000 to be repaid annually over a maximum period of 20 years, and an annual levy of property taxes be made outside of the ten-mill limitation, estimated by the county auditor to average over the repayment period of the bond issue 2.85 mills for each one dollar of tax valuation, which amounts to $0.285 for each one hundred dollars of tax valuation, commencing in 2013, first due in calendar year 2014, to pay the annual debt charges on the bonds, and to pay debt charges on any notes issued in anticipation of those bonds?
- For the bond issue
- Against the bond issue
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Documents
- Frequently Asked Questions
- Informational Flyer
- Town Meeting developer's presentation
- 2013-4 - Golf Course Bonds
- Bond Issue Formula
- 2013-5 - Proceeding with putting the
bond issue on the ballot - 2013-4 - Accepting the Amounts and Rates
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Income Tax - April 2013
Trash Collection - March 2013
Job Opportunities