The Future of Bay Point
By: Carl Selph & Ron Dubin
By now everyone is getting Project Torchlight Fatigue, especially those of us who have worked on making the deal for the golf course property with Torchlight (the current owner) a reality. Over the past twelve months we have been through more than 40 iterations of the Purchase and Sale Agreement.
Much has been communicated to Bay Point owners about the proposed purchase of the golf course properties. Unfortunately, most of the communications to the owners by the various groups and individuals has been misinformation – either intentional or because of misunderstanding.
This short writing will differentiate the misinformation from the true facts.
What are the consequences if the community votes NO:
- According to expert appraisers and empirical evidence from similar communities, the value of all Bay Point properties will suffer a loss in value of between 5 and 20 percent overtime. This loss in value applies to all properties, whether golf course, canal, lagoon, homes or condos.
- Most likely, Torchlight will return to the county commission to seek a development order, as they proposed previously, to build approximately 325 housing units on the Meadows property. If the community rejects the purchase and assessment, the county commission will most likely grant Torchlight’s request.
- Another very likely possibility, Torchlight will work with or sell the property to another private developer that will not care about Bay Point’s best interests. Their only interest will be how much money they can make from building and selling substandard housing units.
- Most likely, the new development will destroy the gated community aspect of Bay Point; thus, security of our community will be a real issue.
- The community will not have another opportunity to purchase this real estate. This is a one-time offer. All of this talk about make a better deal is false information; we will not get another chance.
- Magnolia Beach Road and Delwood Road, already congested, will become even more congested.
- The new housing units are not required to be members of BPCA; accordingly, more traffic and use of the BPCA infrastructure without the new units paying dues.
- Until development is completed, the Meadows property will be left to grow out-of-control and become home to more coyotes, bears, foxes, and other undesirable wildlife.
- The Meadows property will resemble the former Hombre golf course on Back Beach Rd.
- Bay Point will become nothing more than a run-of-the-mill subdivision.
What are the consequences of the community voting YES:
- The Meadows property will be cleaned-up from property line to property line. Owners will no longer have to worry about coyotes or bears in their back yard. Their backyard will once again be a scenic place to enjoy from their patio.
- The Nicklaus golf course will be placed under new management with new aggressive marketing programs and incentives to enhance revenue and profits of the course.
- All Bay Point property values will stabilize and increase over time.
- Bay Point property owners will control the future development of the golf course properties. This means nothing will occur on the property without the owners’ consent. Only with the consent of the Bay Point property owners will the Meadows golf course be re-opened, will additional amenities be constructed, etc.
- The Meadows golf course will not be considered for reopening until the Nicklaus golf course is operating at full capacity.
- The only expenditures of your assessment that are “engraved in stone” are: purchasing and operating the Nicklaus golf course and cleaning-up the Meadows property to the satisfaction of Bay Point owners. Any additional expenditures, are subject to Bay Point property owners’ approval.
- Assessments not spent will be refunded to owners or used to pay-off the debt sooner.
- The future of Bay Point will be yours.
We encourage you to take advantage of this one-time opportunity and VOTE YES for Bay Point’s future. The price of $840 per year for 10 years is a very small price to pay to secure the value and future of your homestead and community.
If you have already submitted your Proxy/Ballot and wish to change your vote, it is not too late. You can retrieve your Proxy/Ballot. Call the BPCA office (850-234-2727) for more information.