Private investment group buys Mill Creek Golf Club - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

SALADO

Private investment group buys Mill Creek Golf Club

SALADO -

A private investment group has stepped in to buy The Mill Creek Golf Club in Salado after the course was in danger of closing for good.

A Salado nonprofit company made up of local business owners, residents and golf club members was in the process of raising funds when the private corporation purchased the course.

The deal between the current owner of the course and investment group was reached and the deal is scheduled to close on July 15.

The Salado Golf Club at Mill Creek Incorporated had until October 1 to raise the roughly $325,000 needed to keep the course open or the owner said he planned to close it for good.

The nonprofit group made up of town residents and business owners was asking members to loan the corporation money to help purchase the golf course and then paying those members back once the course is fully functional again.

The Mill Creek Golf Club in Salado originated as a nine-hole course in the early 70s and was then turned into a 27-hole course in 2003.

Since 2007, three separate severe floods have caused major damage to the course with only 18 holes now fully playable.

Some members like Jane Wilmer, who have been golfing on the course for decades, feel that the impact of a possible closure would be felt throughout the entire community.

"I think it would be devastating," Wilmer said.  "So many people moved here because we had so many wonderful amenities. It would be the saddest day in Salado because I think it would affect the whole town."

Studies have shown that golf course closures across the United States contribute to property value declines in surrounding areas by anywhere from 15% to 25%.

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