City OF Salinas
Finance committee
Update on Twin creeks golf course / First tee
August 2, 2022
Summary of Twin Creeks
Built in fiscal year 1998-1999 at a cost of $8.2 million During the first 4 years, City operated course at a total loss of about $2 million Sublease with The First Tee began in 2004
In 2015, on request (2014) by The First Tee of Monterey County (TFTMC), City Council unanimously approved a lease payment reduction from $125,000 to the current $60,000. 2 Summary of Twin Creeks (cont.)
TFTMC then invested $1.4 million into the facility to build the Taylor Farms Center for Learning In addition to youth programs, the course is open for public play year-round, with some reduced scheduling for weeks of significant youth programs By no longer staffing Twin Creeks and Fairways golf courses, the City has saved more than $1.3 million annually for more than 15 years 3 Financial Snapshot
Current Twin Creeks debt obligation is just under $2 million and will be paid in full by end of calendar year 2026 2022 payments: TFTMC pays $60,000
City pays $384,000
Total 2022 Bond payment: $444,000
4 Program Information reported
120 local businesses supporting the programs, enabling First Tee to provide a safe place to grow youth and new community leaders TFTMC provides Salinas youth with character development, life skills, academic support, higher education opportunities, mentorship and career development More than 10,000 Salinas and Monterey County youth positively impacted by the program Since 2008, 136 Salinas students have been awarded scholarships in the Pay it Forward scholarship program for students attending CSUMB 5 Recommendation
Update provided to the Finance Committee to be shared with City Council and the community through the City Manager’s newsletter 6 Questions?
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