ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The city of Winter Park has taken the next steps toward buying an 18-hole golf course.
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During its Jan. 26 meeting, the Winter Park City Commission unanimously approved a letter of intent to buy the 93.13-acre Winter Pines Golf Club at 950 S. Ranger Blvd.
The city would pay $7.4 million for the property and the business assets, with the deal set to close on or before April 29.
The 2020 baseline revenue for the course was $671,917, per the pro forma the city provided.
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The first year’s assumptions for net revenue based on the number would be $646,708 and the second year would drop to $553,131 before seeing increases over the subsequent years.
Click here to read Ryan Lynch’s story on the Orlando Business Journal’s website.
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