Friday, October 28, 2011
Council authorizes Mayor to submit offer to buy Briarcrest Country Club
In its ongoing negotiations with Briarcrest Country Club, the Bryan City Council at its regular meeting on October 25 authorized Mayor Jason Bienski to submit a contract for an offer on the Briarcrest Country Club and to continue negotiations to determine if acquisition of the property is possible. The contract is valid until 3:00 p.m., Wednesday, November 2. Should Briarcrest Country Club accept the offer, the details of the transaction will be made available to the public before the November 8 election.
The contract was authorized in order have a firm price between the City of Bryan and Briarcrest Country Club on the property, in the event that Bryan voters indicate their desire to purchase Briarcrest Country Club and dispose of or change the recreational use of the Travis B. Bryan Municipal Golf Course.
The City and Briarcrest’s Board of Directors and its equity members have been in contact for some time. Briarcrest hired a real estate broker and listed the property for sale earlier this year. The Bryan City Council was made aware that the Briarcrest Board of Directors, in conjunction with the Club’s equity members, were requesting proposals, “letters of intent,” through their broker, early on in their search for a buyer for the Club. Briarcrest has considered proposals from several prospective buyers. Currently, they have for review the contract offered by the City of Bryan because several Bryan citizens had suggested that the City consider purchasing the facility, as a possible replacement for Travis B. Bryan Municipal Golf Course, the Council asked that Proposition Number One, Parkland Disposition, and Proposition Number One, Non-Binding Referendum, be put on the ballot for November 8, 2011, to gauge the public’s desire to dispose of the current golf course and/or to purchase Briarcrest.
The Council called for a vote of Bryan citizens for the express purpose of determining if voters wish to sell Travis B. Bryan Municipal Golf Course and if there was interest in purchasing Briarcrest Country Club. Parkland cannot be disposed of unless citizens vote to do so. It was also suggested by citizens that Briarcrest Country Club would be a good replacement for "Muni."
Should Briarcrest Country Club accept the City’s offer, a period of due diligence--a time to examine the property, its physical condition, and its financial obligations--will follow to determine if the City wishes to move forward with the purchase or terminate the contract.
During this period, the City Council can terminate the contract for any or no reason at all, including the voters’ rejection of Proposition Number One of the Non-Binding Referendum to purchase Briarcrest Country Club.
For more information, please refer to Mayor Jason Bienski’s FAQ video here.
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