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Palm Coast Monday, Nov. 23, 2015 2 years ago

Flagler Beach finalizes Ocean Palm Golf Club agreement

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Flagler Golf Management will take over the nine-hole course.
by: Jonathan Simmons News Editor

In a Nov. 20 City Commission meeting punctuated by audience applause, Flagler Beach finalized its contract with the company that plans to revitalize the Ocean Palm Golf Club.

“I really appreciate the way that we’ve come together with the commission,” Flagler Golf Management spokesman Terrence McManus said at the meeting. “I’m receiving mail at my home already from people in the community sending everything from their opinion, advice, ‘how can I help,’ you know, starting to form a golf committee and everything like that. As I said from the outset, it’s not necessarily about the dollar. It feels good when everyone’s on the same page. …  I really greatly appreciate the opportunity."

"I’m receiving mail at my home already from people in the community sending everything from their opinion, advice, ‘how can I help,’ you know, starting to form a golf committee and everything like that."

— Terrence McManus, Flagler Golf Management

The City Commission had already given Flagler Golf Management — whose registered agents are McManus and his cousin, Flagler Beach resident Duane McDaniel — the city’s initial approval to take over the course in a vote Nov. 5. The 4-0 Nov. 20 vote (Commissioner Steve Settle was absent) finalized the arrangement, with some amendments to the contract.

The changes include the addition of a revenue threshold Flagler Golf Management will have to meet in order to extend the lease beyond an initial 15-year term. The threshold is an average of at least $200,000 of gross revenue per year for the five years immediately preceding the end of the initial term.

The city also amended the contract so that the percentage rent Flagler Golf Management will pay the city, starting after the 60th month of the lease, will depend on its gross revenue in the preceding year: 1% of gross revenue if the company made less than $200,000 in the previous year, 2% if it made $200,000-$300,000; 3% if it made $300,000-$400,000; 4% if it made $400,000-$500,000 and 5% if it made $500,000-$600,000. 

The percentage rent until the 61st month of the lease will be set at 3%. Flagler Golf Management will also pay the city a base rent of $200 per month, to be adjusted 3% each year.

Under the terms of the lease, the course will be open to the public at least 360 days per year, and will open no earlier than one hour before sunset and close no later than 10 p.m., unless Flagler Golf Management gets special permission from the city to open earlier or to remain open later.

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