Councilman warns Alabama town faces bankruptcy if course doesn’t sell

A small town in Alabama may become insolvent if it can’t sell off its shuttered municipal golf course, according to a member of the town council.

Councilman Farrell Hutto told The Moulton Advertiser newspaper that the $1.4 million mortgage is costing the town almost $12,000 a month. With the 2014 closure of the International Paper mill and the resultant loss of annual payments of $700,000, the town’s tax base has shrunk, and Hutto said, “We’re about to run out of money.” The Valley Landing Golf Course was built in 2000 at a cost of about $5 million, Mayor Clarence Logston told the paper in 2017 when the town council voted to shut the course to save money.

The 18-hole course was first put on the market in May 2017 with an asking price of $2.3 million. The property includes 228 acres, with a clubhouse and maintenance building. An Oct. 20 auction failed to sell the property when the highest bid was short of the city’s reserve price. The property was then offered at $1.5 million, but there have been no offers.

 

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