Golf Course Project FAQs

PROJECT COSTS /FUNDING

40. Do you have a breakdown of each of the individual costs of each project? We need to understand with each project what the difference in cost is now versus what it might be in the future. A complete breakout of the required infrastructure needs and golf course enhancements is detailed in the Plan Book emailed to all members and available in the member section of the website. For additional details, please also refer to the Golf Course Project Informational Webcast posted on the website. 41. What is the composition of the $2,000,000 subsidiary? Operational budgets were created using assumptions for 2027. The $2MM subsidy contained the major assumptions listed below.

Golf Membership count of 285 members.

Winter club operations are normal.

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● Golf Course is closed for the 2027 season with the practice facility open for the season (minus time to tie in irrigation and rebuild adjacent cart paths).

● F&B main dining room will operate on winter hours throughout the summer.

● Patio Grill is open as normal for the summer.

● Year round Glenwild employees will remain employed for the entire year, seasonal staff will be minimal to support the patio grill, practice facility and valet operations ● Revenue projections for Golf Operations are very low, F&B is expected to produce 55% of normal revenue.

The lack of revenue is the largest contributor to the $2MM projected subsidy. We believe these are conservative projections and as we build the budgets for 2027, we will be able to fine tune the projection and make necessary cuts in the budget that are needed.

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