IT'S OFFICIAL...GREY OAKS TO BE TURNED OVER TO THE MEMBERS
Posted by V.K. [Mel] Melhado PA on Wednesday, January 12th, 2011 at 8:26pm.
After months of speculation it's finally official, the membership has agreed to take over the Grey Oaks Country Club and its day-to-day operations from the developer. Voted on by the membership, the agreement passed overwhelmingly by 98%. The turnover will phased in over a two year period.
Unlike other clubs that members had to purchase, such as Mediterra, Grey Oaks will be turned over totally debt-free and profitable. (In the case of Mediterra, members had to purchase a large debt as well as loose their initial equity deposits). Not so with Grey Oaks, the developer as well as the club is not in any financial trouble.
Grey Oaks, with its three championship golf courses and two clubhouses, has been named one of the top 100 golf communities in the United States.
V.K. [Mel] Melhado PA
Fine Home Specialist
Preview Naples Group
Premier Sotheby's International Realty
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