COLUMBUS, Ind. — The sale of Otter Creek Golf Course to Architerra, LLC is nearly complete and has an estimated price of $650,000 to $700,000 — as well as a number of commitments, including a promise to invest at least $5 million into the facility’s capital and maintenance needs.
The Columbus Board of Works has approved a resolution authorizing Mayor Jim Lienhoop to sign a purchase agreement and all other necessary documents for the transaction with Architerra. Bob Haddad Jr., who is chief operating officer at Harrison Lake Country Club, is listed as Architerra’s registered agent.
The final sales price, said Lienhoop, is still to be determined. However, it is expected to be between $650,000 to $700,000.
The city’s current estimates put the price at $681,906. This total is the sum of two pieces: the immediate payoff of certain liabilities and other liabilities that will be assumed by the buyer.
“These amounts and the actual purchase price will change at closing as the loan payoff balances are updated and the final amounts due to vendors and other creditors are determined,” said city officials.
Sept. 6 is the tentative closing date for the deal. However, Lienhoop said this date has been rescheduled in the past and is not set in stone.
“It’s a bittersweet moment,” he said. “When Otter Creek opened in 1964 it represented a truly exceptional asset for our community. It is still a great course today and remains the only Robert Trent Jones design in Indiana. However, there are now numerous, excellent golf courses within an hour’s drive of Columbus.”
For more on this story, see Wednesday’s Republic.
