The History of the Oak Hill Golf Club

Financing the Second Nine Holes and a Clubhouse

In September of 1964 Joe Kinney and Bill Case were appointed as a committee to look into what it would take to construct a second nine holes of golf and come up with a recommendation of how it could be accomplished.   In the meantime, the Board gave the Green Committee authorization to have a well drilled in the area down stream of # 5 hole.

 

In January of 1965 the Board of Trustees worked to consolidate what had been done during construction of the first nine holes of the golf course, setting up the organizations to operate the club, and providing facilities for the Club House, Pro Shop, cart storage and maintenance buildings.   Renovation of the farmhouse was selected as the way to develop the first Club House and Pro Shop. Golf carts were to be stored in the small buildings near the barn and the lower part of the barn was to be used as the Maintenance Building.

 

In early February 1965 it was decided to move the Pro Shop from the farm house to the east end of the barn in the old milk shed. The old pro shop was then converted into a bar room, with the work done by the Greens crew at minimal cost.

 

On July 6, 1965 Joe Kinney reported that a loan might be available from the FHA at an interest rate of 5% over a term of 40 years. The Board gave its approval to submit a preliminary application which would not be binding until a contract was signed.   Because the Club did not own the property on which the course was constructed the only collateral the Club had to obtain a loan was the equipment that had been purchased. Therefore, the Club requested that Riegel Paper grant the Club permission to use the equipment for security and also to extend the lease agreement so that a $150,000 loan could be obtained from the FHA. The Board of Directors of Riegel Paper Corporation gave their approval and at a special meeting of the Oak Hill stockholders held on December 12, 1965 the stock holders empowered the Board of Trustees to borrow a sum not to exceed $150,000 from the FHA for the purpose of constructing a second nine holes of golf and build a new Club House.

 

During December 1965 the Green Committee reported receiving two bids for the design and construction of a second nine holes; $77,500 from George Fazio and $80,000 from William F. Gordon & Son.   President Krechel reported to the members at the Annual Meeting that the FHA had approved the Club's loan application at the Local and the State Level but that it was now somewhere in the Washington DC office of the FHA.   It was very uncertain as to how much more time might lapse before hearing from them.

 

When the delay in the FHA loan became an extended and uncertain thing, the Board of Trustees began to seek other methods of financing the expansion. All plans ran into the same blank wall – Oak Hill Golf Club did not own the real estate to use as collateral for a loan.

 

At the regular Board Meeting held on March 8, 1966 Bill Stem, the club Attorney, reported that the Club had heard from the FHA and that they had requested quite a few changes that had to be made to the existing by-laws before the loan application could be approved.   The Board unanimously passed a resolution to hold a special stockholder's meeting and on March 27, 1966 the stockholders approved the necessary changes to the by-laws.

 

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