Republic file photo The Otter Creek Golf Course clubhouse is shown.
COLUMBUS, Ind. — The sale of Otter Creek Golf Course to Architerra, LLC is complete, with the final price coming in at a little over $875,000 — or $5.87 million, if future capital improvements are factored in.
The Columbus Board of Works voted in August to approve a resolution authorizing Mayor Jim Lienhoop to sign a purchase agreement and all other necessary documents for the transaction. Bob Haddad Jr., who is chief operating officer at Harrison Lake Country Club, is listed as Architerra’s registered agent.
At the time, city officials estimated the price of the sale to be $681,906, including the immediate payoff of certain liabilities and other liabilities that are being assumed by the buyer.
According to Lienhoop, the sale closed on Oct. 18, and the updated estimate for total liabilities assumed by the buyer is $876,391. Architerra has also committed to invest at least $5 million to address deferred capital and maintenance needs for the clubhouse and golf course.
