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City of Edinburg eagles with $4M nine-hole golf courseCity of Edinburg eagles with $4M nine-hole golf coursehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=38902014-06-19T08:03:00Z2014-06-18T00:00:00Z

EDINBURG - The shareholders of Ebony Hills Golf Course are collectively getting $4.25 million from the sale of the nine-hole course to the City of Edinburg.

The golf course’s ownership had been trying to sell the course to the city for at least 16 years, but negotiations did not start in earnest until the city’s 50-year lease on the property at 300 West Palm Dr. expired last year.

As for Edinburg residents, City Manager Ramiro Garza said the sale will not cause taxes to go up, as the city is paying for the course by issuing $2.3 million in bonds and by relying on existing sales and property taxes.

The Monitor
McAllen-Edinburg-Mission
Public Facilities
http://www.themonitor.com/news/local/ebony-hills-golf-course-sold-to-edinburg-for-m/article_92a6ec68-e85d-11e3-9005-0017a43b2370.htmlRead more at {Source}

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