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$76,000.00. In 2011 the total loss was $214,000.00. In 2012 the total loss was $ 292,000.00. In <br />2013 the total loss was $133,000.00. In 2014 as capital gains decreased the total loss was <br />$21,000.00. In 2015 Elbel generated $608,000.00 and the expenses were $662,000.00. Mr. Zeeb <br />reported the city invested very little in capital gains anticipating our ideas going forward. <br />Mr. Zeeb gave examples of what types of city programing that the public has indicated they <br />would like with the money from the sale of Elbel and the money saved yearly. These examples <br />included youth swim lessons, healthy after school lunches for children, after school programs, <br />teenage summer internships, family concerts, new golf pavilions at the other city -owned courses, <br />resurfaced playgrounds, and reducing the cost of the basketball leagues. <br />Mr. Zeeb stated those are some of the programs the city has been informed by the public they are <br />interested in and could be partially funded by the sale of Elbel. <br />Mr. Zeeb stated the goals of the disinvestment of golf at Elbel is to reduce the subsidy of golf <br />that South Bend taxpayers currently pay. The Park Department has found that golf is a low <br />priority of the community. With the sale, the city can reinvest tax dollars to other park programs <br />located throughout the city and along the river as the community suggested in the Parks Master <br />Plan. <br />Mr. Zeeb went over some of the potential options regarding Elbel. The sale of Elbel as a golf <br />course to a private investor would save tax payers dollars that could be reinvested elsewhere <br />while preserving Elbel as a golf course for the community. The sale could generate <br />approximately $750,000.00 to add to the general Parks Fund. The sale could be conditioned to <br />protect the wetlands. <br />Mr. Zeeb stated some of the potential concerns that they have heard from the public regarding <br />the sale including the closure of Elbel as a golf course after the five -year term is up, limited <br />access by non - golfers to Elbel, and the City could not reacquire the site after the sale if future <br />generations were interested. Mr. Zeeb stated some of the potential solutions they have developed <br />are to increase the period of restriction to golf from five (5) years to fifteen (15) or twenty (20) <br />years, they can insert a first right of refusal in the sale to make sure a proper buyer is in place that <br />is committed to protecting the wetlands, leasing the land to a private golf operator instead of <br />selling the course, and donate areas northwest of the park to a land trust that could be open to the <br />public. <br />Mr. Zeeb then presented a map of the Elbel Golf Course and surrounding areas. He stated the <br />city is working with a few environmental land trusts that are interested in about eleven (11) acres <br />of wooded property. The City could immediately transfer that land to the land trust that have a <br />focus on conversation. <br />He stated the potential benefit of the lease option is that the city keeps control of the land, which <br />was a concern of some in the public. The City could reinvest the annual golf subsidy of <br />approximately $130,000.00 each year into some of those programs mentioned earlier. Council <br />can help us look into where to appropriate that money during the budget process. <br />2 <br />