(Club president Darryl LeBlanc makes a presentation to Argyle council-CJLS News)
The Municipality of Argyle has been asked to consider buying the West Pubnico Golf and Country Club for the cost of the facility’s debt.
It has experienced a net loss of $174,000 since 2001 and its shareholders have not made any dividends.
Club president Darryl LeBlanc, who made a presentation to council last night, says there are many other activities that take people away from golfing.
LeBlanc says the best they can hope for is to pay the bills and continue to operate.
He says the club has been in operation for 50 years and the shares have been out there for that long.
“Anyone who purchased shares have received nothing back and I doubt they ever will. That’s not their intention. They’re not looking for anything back. What they’re looking for is a place to go and golf. Having said that, there’s probably 500 shareholders out there, but our membership is 192 people.”
LeBlanc says they are still in pretty good financial shape.
“We’re looking at the long-term viability of the golf course and we want to make sure the course is still here in 50 years.”
Councillor Guy Surette thinks the golf club’s board of directors needs to go back to the shareholders.
“If there’s a business that’s not working out, the municipality can’t just take over and fish somebody out of a problem.”
LeBlanc says if the municipality agreed, the club could lease it back as a non-profit organization, allowing them to do fundraising.
The club also asked for short-term assistance, requesting annual financial assistance equal to the amount of property tax paid for a commitment of five years.
LeBlanc says the money is needed to upgrade the facility and for equipment and repairs.
