GGC Project Plan Information Booklet

Assessment Options PAYMENT OPTIONS

If we opted for permanent financing of $10 million with an interest rate of 6% over a ten year period the additional costs would be: Interest Cost Over Term of Loan. „ $3,322,000 increase in total Project Plan cost. „ $11,658 estimated additional cost per member. Member Cost Over Term of Loan „ $4,675 estimated annual expense per member added to annual dues. „ Assessment cost reduced to approximately $3 7 ,000. „ Includes the traditional assessment features shown above. „ Capital dues will increase in 2025 and 2026 to partially pre-fund the project cost. „ Balance of the per member assessment will be due in November 2026. „ Includes the traditional assessment features shown above. „ Refund schedule will be active for 5 years; amortized over 5 years. „ Participating members will be eligible for reimbursement based on the assessment refund schedule. „ Resigned members will be placed on the assessment refund list. „ Assessment refunds shall be payable with similar terms as the existing refund policies. „ Assessment will be calculated based on total costs/equity golf membership cap. „ As of the official assessment date, all active golf equity members will be required to pay the assessment amount. „ Cash reserves will be used to fund the difference between the total cost and the active member assessments collected.

Traditional Assessment

Assessment with Refund Rights

Partial PreFund & Assessment

Assessment + Debt Option

Debt to Fund a Portion of Cost

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