| Q. |
What is the current ownership structure of Blackhawk Golf Club? |
| A. |
Blackhawk Golf Club is currently owned by Blackhawk Golf Club Limited Partnership. The Partnership consists of local business people and the original founders of Blackhawk. |
| |
| Q. |
What is the proposed new ownership structure? |
| A. |
The Golf Club will continue to be owned as a Limited Partnership. A total of just 395 new Class C Units are being created within the Partnership. All Partners will own a proportionate share of Blackhawk Golf Club.
|
| |
| Q. |
Who is responsible for the day to day operation and Management of the Club?
|
| A. |
Blackhawk Golf Club is currently managed by PVWP Golf Management Ltd. a golf course management company operated by individuals with combined experience of over 75 years in the golf industry. PVWP Golf Management is the original developer of Blackhawk. The company acts as General Partner for the Partnership and represents all Limited Partners.
|
| |
| Q. |
Is there a Board of Directors at Blackhawk?
|
| A. |
The Club is managed solely by the General Partner. An advisory Board will be established to communicate with the General Partner on behalf of the Limited Partners. |
| |
| Q. |
How many golfing Members are anticipated at Blackhawk once all Partnership Units have been subscribed?
|
| A. |
It is anticipated the total number of golfers will be between 475 - 525. |
| |
| Q. |
How does this number compare to other private clubs in the marketplace?
|
| A. |
The majority of the other private clubs in the Edmonton area have 800 - 1000 players. The philosophy at Blackhawk is to maintain a reasonable player base so there is always very good access to the tee. This will be your Club you should be able to enjoy it.
|
| |
| Q. |
Can a Partnership Unit be purchased within my Corporation? |
| A. |
Yes! As you are purchasing a Limited Partnership Investment Unit the Unit may be purchased personally or within your
corporation.
|
| |
| Q. |
Once fully private, how much are the annual dues at Blackhawk anticipated to be?
|
| A. |
Upon being fully subscribed it is estimated the playing dues at Blackhawk will be between $3,250 - $3,500 per season. A number of factors can influence this figure such as: total number of playing members, outside tournament play, inflation etc. The fee structure will be presented each year at the annual general meeting of the Partnership.
|
| |
| Q. |
Do I have full access to the golf course once my deposit for the Partnership Unit has been received?
|
| A. |
Upon payment of the initial deposit as well as golfing dues for the season you are entitled to full access to the course.
|
| |
| Q. |
Where is my Partnership Unit deposit held?
|
| A. |
All required deposits for the purchase of Partnership Units are held in trust at the law firm of McLennan Ross.
|
| |
| Q. |
When will the clubhouse locker room facilities be expanded?
|
| A. |
The clubhouse is currently under construction. The 5500 sq/ft expansion will make room for a Corporate Meeting Room, as well as, new Mens and Womens Locker Rooms.
|
| |
| Q. |
Should I wish to sell my Partnership Unit, is there a transfer fee the incoming Unit holder?
|
| A. |
The estimated transfer fee for an incoming Unit Holder is currently $2,500. This fee is subject to change at the discretion of the General Partner.
|
| |
| Q. |
Are there any other existing categories of Membership at Blackhawk?
|
| A. |
Blackhawk currently has 50 Premier Members. These individuals are Non-equity members and are not Unit Holders in the Partnership.
|
| |
| Q. |
What are the proposed annual dues for a spouse and what will the playing restrictions be?
|
| A. |
The annual golfing dues for all adult Members will be the same from year to year. There will be no daily tee time restrictions.
|
| |
| Q. |
Are golfing privileges available for my kids?
|
| A. |
Golfing privileges are available to the dependents of Limited Partners. They are subject to the fee structure and tee time restrictions as established by the General Partner from time to time.
|
| |
