Desert Mountain Golf Club Turnover Update

The latest Desert Mountain Golf Club turnover update has been released. This past month Crescent Real Estate Holdings and the Desert Mountain Advisory Board established dates for five upcoming Town Hall meetings that will be held over the next five months. These meetings will allow for feedback from the members and will ensure that they are involved in each phase of the turnover process.

The first Town Hall meeting is scheduled October 18, 2010. They will discuss the overall turnover transaction as well as how to handle the additional assets such as Parcel 19. The second meeting is scheduled November 15, 2010. They will discuss the cost of turnover including the inventories and supplies. The third meeting is scheduled December 10, 2010. In this meeting they will discuss the new club bylaws. The fourth meeting is scheduled for January 17, 2011. The discussions will cover the mortgage of club assets, Parcel 19 assessment, and the water liabilities. Finally, the fifth and final Town Hall meeting that is currently scheduled is for February 18, 2011. This meeting will cover the final audited price calculations, processing of payments, and the visions of the club.

In addition to scheduling these town hall meetings they have began working on the new operating budget. As they start to develop this budget they will be able to release the projected dues, fees, and assessments. They have also assured that the weekly conference calls have continued and will remain a priority as the March 1, 2011 turnover date approaches.