Title
Request to Authorize Assignment of the Golf Course Lease Agreement from Golf Concepts, Inc., to Bylen Golf Company, LLC
Body
Whereas, the City of Rochester Hills and Golf Concepts, Inc. entered into a long-term Golf Course Lease Agreement for the development and operation of the Pine Trace Golf Course; and
Whereas, as part of a business reorganization, Golf Concepts, Inc. is assigning its assets and liabilities to a new entity, Bylen Golf Company, LLC, which will be solely owned by Mike Bylen and will be the new operating entity; and
Whereas, under the Golf Course Lease Agreement, as amended, an assignment of the Golf Course Lease Agreement must be approved by the City; and
Whereas, the City Council has been duly advised of the circumstances and has been provided with a financial assurance letter from Golf Concepts/Mike Bylen's primary commercial lender.
Therefore, the Rochester Hills City Council Resolves to authorize the assignment of the Golf Course Lease Agreement, as amended, from Golf Concepts, Inc. to Bylen Golf Company, LLC, as tenant, with the understanding that Bylen Golf Company will fulfill all obligations under the Lease and will continue to operate and maintain the Pine Trace Golf Club to the standards established in the Lease and to which the City and its residents have been accustomed.
It Is Further Resolved that the City Council authorizes the Mayor and City Attorney to prepare, execute and record any and all other documents that are necessary or appropriate to carry out the assignment of the Lease.