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Tega Cay, SC

Tega Cay, SC: (Jul-08-07) The city of Tega Cay brought charges against Double Eagle Golf Management, in a bid to take back control of the city's golf course. The city had been negotiating to remove the company for several months after it alleged that the management company had violated its lease, by selling city property and by not giving an accurate audit to the city. The city claimed that Double Eagle couldn't run the golf course and the new conference center being built next to it, stating as reasons the fact that the tenant kept bad health and that the management wished to surrender control of the golf course. As part of the settlement reached, Double Eagle will have to be out by October 31, 2007 as part of the terms of its original two-year lease. The city will look for a new management company immediately. The city further agreed to pay Double Eagle $200,000 for revenue from events the company said it had booked previously. The settlement agreement also provides a $42,000 bonus for the company if the course turns a net profit of $700,000 from November 1, 2007 to October 31, 2008. [CHARLOTTE OBSERVER: GOLF COURSE MANAGEMENT]

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Published on Jul-9-07


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