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How Private Capital Is Dynamizing Golf in the City ( Capitalism wins again )
the Sun ^ | June 19, 2006 | BENJAMIN WEINTRAUB

Posted on 06/19/2006 6:53:03 AM PDT by george76

Sequestered from the city's traffic and noise, the newly renovated course seems somewhat an anomaly.

But 10 of New York City's 13 public courses are undergoing renovations costing $50 million - and all the funds are coming from private companies that have contracts with the Parks Department to operate the courses.

The biggest player is the privately owned American Golf Corporation, which is putting $26 million in capital investment into six courses that it operates for the city.

With the New York City Department of Parks and Recreation, and by extension taxpayers, chipping in no money at all, the much-improved state of the municipal golf courses appears to be a successful example of public-private partnership.

In 1983, when the city's courses had both fallen into disrepair and were losing money, the Parks Department decided to contract out control of its courses to private companies.

American Golf signed 20-year contracts for the courses, and in 2003, bolstered by good history, won the contracts again and immediately undertook the multimillion-dollar project to improve the course play and upgrade the clubhouses.

The course renovations, which in most of the courses are almost fully completed, and the clubhouse upgrades, which are set for completion in 2007, will not only economically benefit American Golf, but also greatly enhance the overall experience for city golfers, city officials and players say.

since American Golf took over, the state of municipal golf in New York City has changed drastically, he said. Course conditions are better with no taxpayer contribution, the number of players is up, and the city is generating revenue.

In 2005 alone, the city garnered $6.2 million in rent from the 13 courses.

(Excerpt) Read more at nysun.com ...


TOPICS: Constitution/Conservatism; Government; US: New York
KEYWORDS: capital; capitalism; privatecapital

1 posted on 06/19/2006 6:53:04 AM PDT by george76
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To: george76

Dynamizing?.........


2 posted on 06/19/2006 6:55:20 AM PDT by Red Badger (Thread hi-jacking in progress. Everybody stay in your seats and no one will get hurt!...............)
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To: Red Badger

As in Dino-o-mite ?


3 posted on 06/19/2006 6:57:42 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

New York City should privatize Central Park as well. A private company would charge an admission fee, use the proceeds to clean up the park, maintain security and keep undesirable people out. Both the company, capitalism and the city would profit.


4 posted on 06/19/2006 7:04:25 AM PDT by l33t
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To: george76

AGC does a good job managing public courses but they pack the golfers in so tightly and allow 5 somes so a round of golf takes 5-6 hours to complete.

I avoid them if I can.


5 posted on 06/19/2006 7:46:29 AM PDT by Bob J (RIGHTALK.com...a conservative alternative to NPR!)
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