Village to discuss purchase of Binks Forest Golf Club

Council’s intent is to renovate it for a municipal course.

WELLINGTON — The Village Council could decide tonight whether to move forward with the potential purchase of Binks Forest Golf Club and use it as a municipal course.

The village received two recent appraisals on the property, which valued it at $2.7 million and $3.4 million. Those figures are lower than the property owners’ appraisal of $3.6 million, Jim Barnes, Wellington operations director, said.

The discrepancy between the numbers is relatively small for appraisals on large properties, he said.

If the village does go forward with the purchase, officials would renovate the property to create a municipal course, which could provide discounts for residents.

“That’s the intent,” Barnes said. “We would place ourselves in a competitive situation among municipal courses out there and provide a good deal.”

But it will all come down to the price tag.

The current owners, Binks Exchange Co., will not go below $3 million, a managing member previously told the village.

In addition, Barnes estimates the costs of renovations and bringing the course up to Wellington’s standards could run an additional $750,000.

The village is hoping the yearly operational costs will be offset by reve- Keep up with The Post’s complete coverage of Wellington at its Facebook page devoted to the village. On Facebook, search for Post on Wellington.

nue, but the goal is to basically break even. Barnes doesn’t expect any excess revenue that could be put toward paying the debt of the purchase.

So where does the money come from?

Mayor Bob Margolis pointed out at an agenda review meeting Monday that the council has already passed the 201516 budget and it didn’t include any funding to purchase the golf course.

The council could re-open the budget at any time and reallocate funding to make the money work.

Councilman Matt Will- hite has advocated for taking on a loan to pay for the property. It would add to the village’s small, $7 million debt total.

Before making any final decisions, the village will solicit more feedback from residents. The inquiry could come in the form of town hall meetings, similar to the K-Park installments.

Previous polls have shown that locals are split on the idea. In the recent budget challenge survey, 55 percent of the 391 people surveyed said they were against the idea of buying the course.

“We’ve learned several things from the K-Park experience,” Willhite said.

The council meeting will take place at 7 p.m. tonight at Village Hall.