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APR-12-94 WED C04 ADMINISTRATION FAX N0, 2164610552 <br />GOLF REALTY ADVISORS 617 592 5548 <br />Niay60d Village <br />Proposal fbr Golf Caurse CoosulBiug Services <br />Aprll 12, 1994 <br />Paga Z . <br />friurncilig. C"°iRA'.s Goff Caurse Appraisa! Div,sipn is also known cas ara <br />crppraisal specialist In the indusery arad has represented maqy vf the wlipn's <br />ldtrg'¢s1 ft?tancaal fnslihitiosm Qerr Brokerage Division gvas recerafly narned as <br />Ekclrrslve Rwesentadve, fnr Ar,aold Pcalmer Golf Managemaat Cvnopeny for <br />the enfdre Northeast <br />+ As Qra exsanrple o, f vur narenicipcil services, GR4 jKrs actlvely been imrolved wlth <br />s1te Town of Bridgewater, 1Llazachusett.s ar a Strategla Awt?ing a»d <br />Development Consullauil for fhe prxst year In ihelt q&rPS to fme deBt mid <br />develop a muHfctpally awned $olf couurse. Qn Robmary 7, 1994, wlth t1acf <br />assistmme of GRA, resldents of thP Town of Bridgewsrter auihatl2ed the <br />lssuaifce o}'a $5 milli+ort ,Spec9a1l,egIslatton Cexeral OblJ$adon Bond tofiajtd <br />development of tha go f course. For five years prior to retalnin,g GRA, the <br />7bnuii triQd unsieccessf?rlly to bring the proJ¢cr ro,frieittora, 7'own officials hmae <br />publicly sdaled thap drie !n larga pwt to GR4's fnvolvement QvPr ihe post year, <br />rhe galf mtrse will nm become a reaPfty. <br />•,f tsted in Apgerrdix A to thts s°ubnttssttm are nrnr+es af severalpasf cand present <br />clieni pefe?Hces who may be cnntacted regardirAg infarrnatian cmcl opiniorl <br />crbaul G,R1l. Rpper& 8 ts a capy of th¢ G12A Brochure which dascribes our <br />barstc services, several past eWgements Q„d a selected clkent lise. <br />P, 02 <br />P.ea <br />Tht fC?llowinp is ade$crlptien of the phases and tasU which we wauld propose to undertake for <br />tho Viilqe givea our discuWons amd meotiuag om ,A.p,il 11, 104: <br />PHASE I. ACQUISITIO1oI PLAN <br />PAR16dLUW GoLy CO[7RSL ANALYSis <br />GR.A w111 perform an extensive investtgadoa of the Parkview C:olf Cours+e i,n ordcr to dctm-nine <br />tha likely Fnanciat operating perfarmaaice of the property. We u?ill utilize this lnfarmatian <br />throughout the engagement in our evaluation of operattn&ase proposals from independeat <br />manageas. IF Farkview will not release financia1 idonnWoN CRA would pr4pose to prepate <br />flU1Ci8l pM}0444A8 AS deSctibM bel4w' <br />_x <br />lh'INANGTAi. PR(AIEC'1'IUNS <br />4RA wi11 prepare estimates Qf operatiag revenua aad oxpensoa for the Parkview Czolf Course's <br />4lrst Ave Lblt years of operation if acquired by the Village. GkA will perfonn market research in <br />C-mLF°REA1..3v?scas, 1Ne.