This 2006 Budget projection was emailed from Geary Leathers to Ms. Burcham on August 19, 2005.
I noticed that the tennis building lease is $22,500 while the City is being paid only $17,500 a year. Meadowbrook has a sweet deal. CLICK HERE to read the Roanoke Times article on the Tennis Building.
This budget does not include any revenue from the pool since it is in disrepair.
Also note the amount of real estate and personal property taxes that they "were" paying to the City and are not paying now - about $54,000.
Not only does the City not receive the taxes that were generated by Meadowbrook owning the golf course but there is sizable debt outstanding from the City's loan on the property.
Next post will show the way Roanoke City financed the golf course incurring additional waste of our tax dollars.
Click on Document to Enlarge
PS: Geary Leathers is Vice President of Operations at Meadowbrook.
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