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Amoco Reuse Agreement Joint Powers Board
This document is an Amendment to a Management Agreement between Amoco Reuse Agreement Joint Powers Board (Owner) and Landscapes Golf Management, LLC (Manager), effective December 1, 2023. The amendment revises the contract term to end on November 30, 2029. It establishes a new Base Management Fee of $7,000 per month, with annual 3% increases starting December 1, 2024. Additionally, a Contingent Management Fee is introduced, calculated as a percentage (30% or 35%) of improved Net Operating Income over specified loss thresholds, with a cap for later years. This amendment modifies the terms of an original agreement dated December 1, 2018.
Effective Date
Dec 1, 2023
Expires
Effective: Dec 1, 2023
Amoco Reuse Agreement Joint Powers Board
Expires:
This document is an Amendment to a Management Agreement between Amoco Reuse Agreement Joint Powers Board (Owner) and Landscapes Golf Management, LLC (Manager), effective December 1, 2023. The amendment revises the contract term to end on November 30, 2029. It establishes a new Base Management Fee of $7,000 per month, with annual 3% increases starting December 1, 2024. Additionally, a Contingent Management Fee is introduced, calculated as a percentage (30% or 35%) of improved Net Operating Income over specified loss thresholds, with a cap for later years. This amendment modifies the terms of an original agreement dated December 1, 2018.
AvailableAmoco Reuse Agreement Joint Powers Board
This Management Agreement, effective December 1, 2018, to November 30, 2023, is between Amoco Reuse Agreement Joint Powers Board (Owner) and Landscapes Management Company, LLC (Manager) for the operation of the Three Crowns Golf Club. The Manager is responsible for comprehensive golf course management, including financial oversight, personnel, marketing, and maintenance. Compensation for the Manager includes a monthly Base Management Fee of $7,000 (with a 3% annual increase from Dec 1, 2019) and a variable Contingent Management Fee based on Net Operating Income. The agreement details financial procedures, approvals for major decisions and budgets, accounting practices, default remedies, termination provisions, indemnification, insurance requirements, and general terms and conditions.
Effective Date
Dec 1, 2018
Expires
Effective: Dec 1, 2018
Amoco Reuse Agreement Joint Powers Board
Expires:
This Management Agreement, effective December 1, 2018, to November 30, 2023, is between Amoco Reuse Agreement Joint Powers Board (Owner) and Landscapes Management Company, LLC (Manager) for the operation of the Three Crowns Golf Club. The Manager is responsible for comprehensive golf course management, including financial oversight, personnel, marketing, and maintenance. Compensation for the Manager includes a monthly Base Management Fee of $7,000 (with a 3% annual increase from Dec 1, 2019) and a variable Contingent Management Fee based on Net Operating Income. The agreement details financial procedures, approvals for major decisions and budgets, accounting practices, default remedies, termination provisions, indemnification, insurance requirements, and general terms and conditions.
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