College to Buy Grinnell Golf and Country Club
Grinnell Golf and Country Club membership voted in a special meeting Tuesday, Feb. 9, in favor of the College's purchase of the Club. The vote was 107-1. The Club's Board also unanimously approved the sale.
Club representatives approached the College about a possible sale late last summer. Under the terms of the College's 2001 investment in the Club, it has first right of refusal on any proposed sale. After meeting with the Club representatives, the College began exploring its options and conducting preliminary due diligence. A purchase agreement was completed in January, and agreement on terms was reached shortly thereafter.
The purchase includes the grounds, buildings, and equipment. The College intends to operate the Club as a public golf course. The swimming pool is also planned as a public facility, pending assessment of its condition and necessary repairs. All existing contracts for use of the facilities will be honored. The College will pay taxes on the property to the City of Grinnell.
As transition plans take shape, the College will update Club membership accordingly.
According to Kate Walker, vice president for finance and treasurer for the College, the purchase of 56 acres directly adjacent to campus is a win-win for the College and the community.
“It preserves a treasured community resource whose history is deeply tied to the College's,” Walker says. “Founded by College faculty in 1899, the Club's sale in some ways brings things full circle. The College sees this sale as an opportunity to continue to operate the Club as a value-add for the community. Furthermore, acquiring the Club protects the College and the community against the risk of purchase and loss of this prime property to another party.”
The goal, Walker adds, is to complete the transaction in time to open the course for the 2016 season.