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November 30, 2021 November 30, 2021

Riverview Golf Club starts to pay off loan to the town

Posted on March 3, 2021 by 40 Mile Commentator
Riverview Golf Club board members Cliff Sackman (l-r), Darrell Schaffer and Bill Duncan hand Redcliff Mayor Dwight Kilpatrick, on behalf of the town, a $100,000 cheque as a lump sum repayment to the town on Feb. 22.

By Justin Seward

Commentator/Courier

Redcliff’s Riverview Golf Club handed over a cheque in the amount of $100,000 to the town as a part of a loan owed to the municipality at the Feb. 22 council meeting.
The $100,000 is a lump sum repayment to the Town of Redcliff and covers both the 2021 required bi-annual payment of $31,000 and the remaining $69,000 is to go towards the outstanding principal.
The lump sum is a part of a 2019 loan worth $315,000 from the town.
The town gave the golf course 10 years to pay off the loan.
The golf course announced in 2018 that they were over $400,000 in debt.
Riverview vice president Bill Duncan says the funding came from the members and the green fee players to be able to generate the revenue to pay the sum of the loan back.
“It’s awesome,” said Duncan.
“We owe a lot to our members, to our volunteers, our staff that kept things tight and operated on a very tight budget, rather than over spending. We made sure we went and paid our debt and we stayed within our limits and we were able to have a good couple years.”
Duncan says $143,000 is left to pay off on the loan.
This payment also is intended to cover an additional payment of $35,000 as agreed upon by both parties in the event the adult memberships exceed 200 in any year.
Duncan says with the early bird sales that memberships are up to 150 and he expects to have 200 members this season.
Council brief
Council approved Coun. Chris Czember’s motion to place the town’s new electronic sign at ‘Location A’ which is on Broadway Avenue at the corner where you enter the town from the east end.
“I think it made sense with the power already there for it and also the possible future expansion of Saamis Drive—just so that way it’s functional in that position in that place there,” said Czember.

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