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Bearsbrook Golf Club Frequently Asked Questions

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Bearsbrook Golf Club Frequently Asked Questions BearsBrook Golf Club Frequently Asked Questions 1. Why is BearsBrook Golf Club unique? BearsBrook will be a “pure golf club” personally designed by Jack Nicklaus. BearsBrook Golf Club will provide the ultimate golf experience. It will have a “core designed” golf course with no tee times. You will walk off the green directly to the next tee without crossing any roads. Estates around the perimeter of the property will be set back 250 feet from golf holes. The common thread that runs through great golf clubs like Cypress Point, Pine Valley and Augusta National is that they created a great golf course and a great golf experience that truly honors the game of golf. BearsBrook Golf Club’s core values are such that we aspire to achieve this same level of greatness. 2. What makes this property so special for golf? Unlike most property in North Texas, the property is perfect for golf due to the 120‐foot drop in elevation across the property. The Jack Nicklaus Signature Golf Course will be laid out on either side of Rutherford Creek amongst thousands of mature hardwood trees. Unlike most new golf courses that are created by moving millions of yards of dirt and adding thousands of small commercially grown trees when our golf course is finished, it will look like it has been there for a hundred years. 3. How many members will BearsBrook Golf Club have? There will be 35 Founding Members and 25 Charter Members. Founding Members will have access to all 25 Jack Nicklaus Golf Clubs worldwide and the Nicklaus Home at each facility. Founding Members pay $650,000 and Charter Members pay $500,000. It is anticipated that Founding and Charter Members will receive approximately $450,000 of their investment back through the sale of regular memberships. We will have 300 regular members or 360 total members. Regular memberships will likely start at $100,000 and the price will go up $25,000 for every 50 memberships that are sold. Please keep in mind, once we have our 35 Founding and 25 Charter Members, they will meet and form a Board of Directors and Membership Committee. The Board may elect to increase initiation fees, reduce the overall number of memberships and make other changes to the structure of the club. 4. Can a corporation purchase a membership? Yes ….. A corporation can purchase a membership but the membership must be held in an individual’s name. A corporation may pay a transfer fee to transfer the membership providing the Membership Committee approves the individual who applies for membership. The Board of Directors will set the transfer fee and time restrictions. Now that Texas has more Fortune 500 companies than New York and California, Founding Memberships will be in high demand with major corporations which do business all over the world. 5. Why is Jack Nicklaus considering BearsBrook Golf Club as a Jack Nicklaus Golf Club? Nicklaus was so enamored with the site and its potential that BearsBrook is being considered as a Jack Nicklaus Golf Club. The Jack Nicklaus Golf Club was created as an exclusive access and reciprocity program for 25 Jack Nicklaus Signature Golf Courses located in ideal markets around the world. The program will be limited to 35 “Associate Members” at each club. Each Jack Nicklaus Golf Club will be able to offer Associate Members reciprocity at other Jack Nicklaus Golf Clubs, as well as access to a Nicklaus Home established on each property for use by Jack Nicklaus, his family and other JNGC Members worldwide. 6. Where else in the world is Jack Nicklaus creating Jack Nicklaus Golf Clubs? Current locations, hand‐picked by Nicklaus, that will encompass some of the world's most sought‐after markets and destinations include: New Zealand; Royal Island (Bahamas); St. Lucia and Anguilla in the Eastern Caribbean; the Patagonia region of Argentina; Mount Holly, a private ski destination in Utah; Cap Cana in the Dominican Republic; Vancouver Island in Canada; Tuscany; Scotland, South Africa and South Korea. In addition to these spectacular destinations, Jack Nicklaus Golf Club members will have access to Jack’s Florida and Ohio home courses—The Bear’s Club in Jupiter, Fla., and Muirfield Village Golf Club in Dublin, Ohio. 7. Will you require Founding and Charter Membership initiation fees to be paid all at once? No …. It is anticipated that Founding and Charter Members will pay $50,000 on November 1, 2008 and two equal payments in February and June of 2009. 8. How does someone apply for membership? The only memberships that are available at this time are Founding and Charter Memberships. These 60 combined Founding and Charter members will elect a Board of Directors that will create a membership approval committee made up of members. The 60 Founding and Charter Members will each be given the opportunity to invite up to five friends or business associates to make application for membership. Applications from non‐ sponsored members will be considered by the membership committee. In order to create the desired membership culture, BearsBrook Golf Club will be comprised of ladies and gentlemen who want to be a part of a “pure golf club” that will honor the finest traditions of the game of golf. 9. Do memberships give family members the right to play the golf course? Yes and No …. A family member may play golf with a member at no charge. If a family member wants to play golf on their own, they will have to join the club as a full member. If you give full membership privileges to 360 members plus spouses and children you will create a country club environment and be forced to have tee times from 7 a.m. until 4 p.m., like most traditional country clubs. 10. Are the economics of BearsBrook Golf Club dependent on the 1,400-acre real estate development in Prosper? No….. The golf club will be owned and operated by the membership and is not associated with or dependent on lot sales. BearsBrook Golf Club will be the centerpiece of the 1,400‐acre development and play across approximately 225 acres. The development will have three gated communities named BearsBrook, Seneca and Magnolia on approximately 950 acres. The property also includes 223 acres of mixed‐use fronting on Highway 380. BearsBrook Golf Club will be in the premier gated residential community of BearsBrook but privately owned by the membership. The membership of this equity club will elect a President and Board of Directors which will control the Club. 11. Are you concerned that this sluggish real estate market will make it difficult to fund BearsBrook Golf Club? No …. The key to the club’s success and the security for all members is that BearsBrook is a member‐owned pure golf club (not tied to the real estate) and will be funded by equity and have no debt. BearsBrook will not have the normal country club amenities like swimming and tennis and will not serve dinner except on special occasions. This allows the golf course and facility to be maintained at the highest level, at a total club operating cost which is much less than a traditional country club. 12. How accessible is BearsBrook Golf Club to Dallas? Now that the North Dallas Tollway is complete to Highway 380, BearsBrook is accessible by the North Dallas Tollway, Preston Road, Custer Road and Interstate 75. In addition to DFW and the private airport in Addison, national members can land their corporate jets at the McKinney Airport just like Jack Nicklaus did on his first visit. The club will be approximately 25 minutes from the intersection of Interstate 635 and the North Dallas Tollway. 13. When do you anticipate that BearsBrook will be open? We intend to start construction in June 2009 and open for play in the Fall of 2010. 14. What is the theme of BearsBrook Golf Club? Great golf on a golf course that is maintained at the highest level! A Preston Trails quality buffet lunch! Camaraderie with your peers! All of this in a quiet, serene, beautiful, gated community in a country setting. For Founding and Charter Membership information contact: Scott Erwin Executive Vice President – LandPlan Development Corp. 214-618-3802 [email protected] .
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