After attending the 7/25 BOD meeting, I find it that the Board could possibly consider proceeding without considering other use for that space, especially after reading the possible business model provided by NRC with all the disclaimers.
Their suggestion of pushing a “gastropub” (actually a beer and burger joint) was likely made as it requires less staff, frills and and limited menu.
Their assertion that only self-managed business could be successful there actually means “you will not find anyone stupid enough to put their own money up “.
The hours of operation of 11AM to 9PM reflect trying to operate with 1 full time shift plus part timers, who may not receive benefits, like the ones they suggest hiring off on Craig’s List.
Still the most prominent feature is their assumption of serving 207 customers per day, pushed in the back rear corner of a large parking lot with no high traffic frontage is far from realistic.
And their claim of generating of over $129,000 per mo. with meal tabs between $16-$20 seems like they are blowing smoke.
Their model shows start up fees of $371.000 plus and $9885 rent figure (or $13.728 on a triple net basis) would show a loss an operation loss of $126.000 as the rent figure is our money but in different accounts.
Another very important consideration is that the Revere golf courses presence in our community is a very valuable asset as our properties continue to escalate or at least maintain with them.
As you realize in the entire valley, golf fees are shrinking due to over expansion, and courses are closing leaving bordering homeowners see their home values tank as the closed courses go unkept or sold to developers
Read about Badlands for example.
Revere has Buckman’s so they have restaurant, bar, and catering revenue to pick up slack as course income decreases from green fees.
However, if the food service income there is hurt by additional income, there is no assurance Revere management may say adios, and within months the Anthem clubhouse restaurant, referred to as “The View” in the NRC plan, could provide the view of a weed infested dust bowl.
As reported by the BOD, they announced the settlement reached on the LIBERTY CENTER lawsuit.
We were awarded a gross settlement of $2.4 million less 40% legal fees and other fees (which should be clarified) leaving a net of $1.2 plus million.
The BOB Prez. gloated over the figure, but is my belief that this money, along with the 3 yr special assessment (part of our dues) which we already paid a huge amount, was to go back into our reserve fund was part was largely due to the mishandling of $1,300,000 reimbursed to Del Webb as one of our members filed to order a final inspection upon completion of work, necessary to be considered “green”.
Is this cash bonus causing some board members seeking to push through a bad choice?
More information can be found on a recent issue of the Anthem Opinions online.
From Barbara Sidary...to...Anthem Opinions
ReplyDeleteGreat article.
You are so good at keeping us all up to date on everything. I appreciate what you do.
Thanks.
From Robert Latchford...to...Anthem Opinions
ReplyDeleteAfter attending the 7/25 BOD meeting, I find it that the Board could possibly consider proceeding without considering other use for that space, especially after reading the possible business model provided by NRC with all the disclaimers.
Their suggestion of pushing a “gastropub” (actually a beer and burger joint) was likely made as it requires less staff, frills and and limited menu.
Their assertion that only self-managed business could be successful there actually means “you will not find anyone stupid enough to put their own money up “.
The hours of operation of 11AM to 9PM reflect trying to operate with 1 full time shift plus part timers, who may not receive benefits, like the ones they suggest hiring off on Craig’s List.
Still the most prominent feature is their assumption of serving 207 customers per day, pushed in the back rear corner of a large parking lot with no high traffic frontage is far from realistic.
And their claim of generating of over $129,000 per mo. with meal tabs between $16-$20 seems like they are blowing smoke.
Their model shows start up fees of $371.000 plus and $9885 rent figure (or $13.728 on a triple net basis) would show a loss an operation loss of $126.000 as the rent figure is our money but in different accounts.
Another very important consideration is that the Revere golf courses presence in our community is a very valuable asset as our properties continue to escalate or at least maintain with them.
As you realize in the entire valley, golf fees are shrinking due to over expansion, and courses are closing leaving bordering homeowners see their home values tank as the closed courses go unkept or sold to developers
Read about Badlands for example.
Revere has Buckman’s so they have restaurant, bar, and catering revenue to pick up slack as course income decreases from green fees.
However, if the food service income there is hurt by additional income, there is no assurance Revere management may say adios, and within months the Anthem clubhouse restaurant, referred to as “The View” in the NRC plan, could provide the view of a weed infested dust bowl.
As reported by the BOD, they announced the settlement reached on the LIBERTY CENTER lawsuit.
We were awarded a gross settlement of $2.4 million less 40% legal fees and other fees (which should be clarified) leaving a net of $1.2 plus million.
The BOB Prez. gloated over the figure, but is my belief that this money, along with the 3 yr special assessment (part of our dues) which we already paid a huge amount, was to go back into our reserve fund was part was largely due to the mishandling of $1,300,000 reimbursed to Del Webb as one of our members filed to order a final inspection upon completion of work, necessary to be considered “green”.
Is this cash bonus causing some board members seeking to push through a bad choice?
More information can be found on a recent issue of the Anthem Opinions online.