Tahquitz Creek turns up green for City of Palm Springs

Public Record, The, Aug 07, 1998

PALM SPRINGS -- The second largest business it operates -- the Tahquitz Creek Resort Golf Course -- is turning up green for the city, according to the second year report on its finances.

The yearly financial report for the fiscal year which ended June 30, reveals that this course, built at a cost of almost $14 million, returned a profit, without any paper deduction for depreciation, of $341,475.

The good news is that the city received a $405,000 override from the old Legends Course, which is leased out to the Palmer Management Group.

These two sources of income, plus a subsidy from the general fund, will enable the city to make its yearly $1,080,000 payment on a bond issue used to finance the construction of the new Tahquitz Creek course.

Revenue for the year hit the $2 million mark, going to $2,099,024, only slightly below projections, but total expenses were under the $1,734,773 forecast, ending at $1,603,019.

The number of rounds of golf played totaled approximately 42,450. This compares favorably with the number played at the Palm Desert Willow North Course, 44,664, the only course open in that two-course complex.

The Palm Desert course had total revenue for the fiscal year of $3,311,397, but this figure included several sources not included in Tahquitz Creek, such as the golf range, pro shop and teaching school.

Palmer Management manages the Tahquitz course for $12,500 per month, the same amount charged Palm Desert by Kemper Sports Management to manage the Desert Willows North Course, now dubbed Firecliff.