City council supports golfers

Horsham Golf Club will use a $300,000 municipal loan to restructure its borrowing circumstances and strengthen its financial position across the next decade.

Horsham Rural City Council has confirmed its role as a primary club supporter in signing off on the 10-year deal.

Under the formal loan agreement the financially strapped golf club will be free of making repayments in the first five years and free of interest charges until the sixth year, when two percent annual rate will apply.

Horsham Golf Club leaders announced to its members last week that they had broken the back of potentially crippling debt issues with help from the community, a bank and third-party funding providers.

The council commitment was part of the rescue package.

The club has experienced financial difficulties since Black Saturday bushfires devastated its course and clubhouse in 2009.

President Leo Delahunty said the council loan would provide a much-needed financial injection.

“The support of the council is greatly appreciated as it has enabled the club to negotiate a settlement with its current funding provider,” he said.

“The club board, through negotiations with its bank, Horsham Rural City Council and community business leaders, with the added funds from our supporters fund, has been able reduce the club’s debt from $1.4-million in June 2018 to $660,000.

“This was made possible with the council support.

“The golf club is an important community asset that provides national exposure due to its tremendous course rating.

“The club now has a sustainable, bright future under its own control.

“Thank you to Horsham Rural City Council and the community.”

Council chief executive Sunil Bhalla said the gesture of financial support aligned with the Council Plan 2019-23, specifically the section referring to community and cultural development.

He said the council had in the past provided loans to other community groups to allow for the development of sports and facilities and this loan would help Horsham Golf Club achieve similar outcomes.

“Horsham Golf Club is an important sport, recreation and tourism asset within the community and is highly regarded as one of regional Victoria’s best golfing experiences,” he said.

“The clubhouse facilities also serve as an important community function centre for meetings and broader community and social use.”

Mr Bhalla said the council had been in regular contact with Horsham Golf Club in recent months.

“The club and its directors first presented their situation to the council at a briefing last year,” he said.

“The risk to the council will be minimised through the holding of security over the facility and establishing a regular reporting relationship with the club.”

Horsham Rural City Council is also providing an events funding grant of $15,000 a year to support a Horsham Pro-am tournament.

The funding is from 2018 to 2020.