Our Club, Our Home Plan Overview

River Run Country Club
Our Club, Our Home
Plan Overview
2022 – 2025

APRIL 28, 2022

River Run Confidential Information 1

2022- 2025 Capital Improvements 2
• Phasing & Cost Estimates
• Funding

River Run CRoIVnEfiRdReUnNtiaClOIUnNfToRrYmCaLtUioBnCONFIDENTIAL INFORMATION

PHASING COSTS

Phase 1: Nov ‘22 – Jun ‘23 $5,502,349

• Golf Course (Phase 1) $1,481,964
• Pickleball, Hard Courts & Parking $1,552,250
• Pool Area Improvements
$8,536,563
Phase 2: Apr ‘24 – Aug ‘24
3
• Golf Course (Phase 2)

Phase 3: Nov ‘24 – Nov ‘25

• Pool & Lazy River Improvements
• Multi-use Space

TOTAL

See Appendices for details on Phasing

River Run Confidential Information

RIVER RUN COUNTRY CLUB CONFIDENTIAL INFORMATION

RIVER RUN GOLF COURSE 2022-2025 STRATEGIC PLAN

2022 Project 2023 Q4 Phase 2 Phase 3 2025 Project
Kick-off Apr 1, 2024 Nov 1, 2024 Completion
Nov 1, 2022 Q2 Q3 Q2 Q3
2024 Q4 Q1 Q4 2025
Phase 1
Nov 1, 2022 Q1 Q2 Q3 Q4

Q4 Q1 4

Phase 1 New Irrigation System
Golf Course Fix Drainage Issues
Pickleball, Tee Complex Renovation
Tennis Courts Cart path Tees #1, 5, 8, 10, 15, and 18
Lake Overflow Replacement
& Pool Silt Removal and Dredging 1 and 9 Lakes
Amenities Pool House Full Bathrooms Renovation
New Slide & New Permanent Bar at the Pool
Phase 2 New Parking Area at Racquet & Sports Center
Golf Course 6 new Pickleball Courts; Resurface Hard Courts
(course closed) New Viewing & Gathering Areas at Racquet & Sports Center

Phase 3 Greens & Surrounds
Pools & Kids’ Relocate 7 & 8 Greens; Elevate 5 Green
Improve Drainage Issues on Holes 3, 6, 7, 11 and 18
Facility Repair Cart Paths around specific Tee Boxes

Regrade River Crossings on 13 & 16
Improve Fairway Drainage on 7 & 18

Pool Construction Work

Multi-use Space

River Run Confidential Information

Funding Options – Assumptions

1. Total Funding Requested = $8,536,563
a. Includes a Surety Bond for $95,000
b. Includes $500,000 in Contingency

2. $1.75mm Bank Loan interest only at a fixed rate, to roll over to a 10-yr mortgage (20-year
amortization); $500k in ’23, $625k in 2024 & $625k in 2025

3. Re-finance current mortgage with new loan with blended rate and same 10-yr time frame
(mitigating Balloon Payment in 2027)

4. $250,000 Line of Credit from the bank

5. Operating Capital for 2023-2025 planned at $200,000 (vs $350,000)

6. Assessments to be paid in 2022 and 2023 regardless of when projects are starting for
any given membership category

5

River Run Confidential Information

Member Investment

In order to accommodate member feedback and mitigate risks, the following funding
approach is recommended:

• Members pay an upfront investment to create the cash flow required, to complete the

projects in 3 years vs 4 years and to reduce the amount needed from the bank.
• Increase the capital fee to create needed cash flow and a self-funding model for capital

projects after 2025.
• Obtain a $1.75mm construction loan and $250k line of credit from the bank.

Member Investment

Membership Type Upfront Investment Monthly Increase
Golf $5,900 $85
Junior Golf $2,950 $85
Heritage $1,475 $56
Corporate Associate $5,900 $85
Sports $2,360 $34
Social $1,180 $17

• Upfront investment to be paid in 2 installments. 6

River Run Confidential Information

APPENDICES 7

River Run ConRfIiVdEeRnRtiUaNl ICnOfUoNrmTRaYtiCoLnUB CONFIDENTIAL INFORMATION

PHASE 1: Nov ‘22 - June ‘23

Golf Course Racquet Sports

1. Irrigation System 1. 6 New Pickleball Courts

2. Fix Drainage Issues 2. Resurface Current Hard Courts

3. Improve Tee Boxes 3. New Viewing Area Between

4. Repair Cart Paths Around Several Pickleball & Hard Courts

Tee Boxes 4. New Parking Area (net new 40

5. Fix Issues on Specific Holes spaces)

Note: Golf Course Will Not Close 5. Renovated Gathering Space and

Grill Area

Pool
1. Pool House Full Bathrooms Renovation
2. New Pool Slide
3. New Permanent Bar
4. Reconfigured Drop-off Area for Pool

8

River Run CRoInVfEiRdeRnUtNiaClOIUnNfoTRrmY CaLtiUoBnCONFIDENTIAL INFORMATION

Phase 2: April 2024 – August 2024

Golf Course
1. Re-Grassing of All Greens
2. Re-Grading, Draining and Re-Grassing Short Cut Areas

Around ALL Greens (Surrounds)
3. Fix Issues on Specific Holes
4. Course Will be CLOSED for 4-5 Months

9

River Run CRoInVEfiRdReUnNtiaClOIUnNfToRrYmCaLtUioBnCONFIDENTIAL INFORMATION

Phase 3: November 2024 - May 2025 10

Pool Renovation
1. New Splash Pool
2. Retile Pool and Lazy River
3. Expand Decking
4. Repair / Resurface Current Decking

Multi-use Space
1. Provide multi-use space to accommodate
activities for various age groups

River Run CRoIVnEfiRdReUnNtiaClOIUnNfToRrYmCaLtUioBnCONFIDENTIAL INFORMATION