The following questions and answers are designed to provide an understanding of Elkhorn Golf Club and the membership opportunity available at the Club. As these questions and answers are only summary in nature, you should read the Membership Plan and Rules and Regulations prior to purchasing a membership.
Q: What is Elkhorn Golf Club?
A: The Club is a golf club, located in the Elkhorn community in Sun Valley, Idaho featuring exceptional golf facilities.
Q: Who owns the Club Facilities?
A: CG-Elkhorn Golf LLC, a Delaware limited liability company (the "Company"), doing business as Elkhorn Golf Club, owns the Club Facilities. Troon Golf is managing the Club Facilities on behalf of the Company.
Q: What facilities will the Club offer?
A: Members, their families and guests will enjoy the following "Club Facilities":
· 18-hole championship golf course designed by Robert Trent Jones, Sr. and Robert Trent Jones, Jr.;
· Practice facilities including two driving ranges, two practice greens and practice bunkers;
· New clubhouse, featuring mixed grille, lounge, golf shop and men's and women's locker rooms.
Q: How many Golf Memberships will be offered in the Club?
A: The maximum number of Golf Memberships permitted to be issued in the Club is 395.
Q: What are the privileges of a Golf Membership?
A: Golf Members will be entitled to use all of the golf and clubhouse facilities of the Club. Golf Members will not be required to pay greens fees for use of the golf course, but will be required to pay golf cart fees. All practice facilities are available to members at no charge.
Q: What are the special features of membership in the Club?
A: Membership in the Club currently offers a number of attractive benefits. A brief description of some of these benefits follows:
· Refundable Membership Deposit. The membership deposit is refundable upon resignation and reissuance of the membership as provided herein.
· Immediate Family Privileges. A member, his or her spouse and their unmarried children, under the age of 23 who are living at home, attending school on a full-time basis or in the military are entitled to membership privileges without having to pay additional membership dues if the member pays the family level of dues.
· Extended Family Privileges. The parents, children who do not fall within the definition of immediate family and grandchildren of the member and spouse and the spouses of such family members may use the Club Facilities and play golf upon payment of reduced greens fees.
· Resigned Memberships Reissued Prior to Membership Sell-Out. Resigned members do not have to wait until all new memberships in the Club have been issued before their membership is reissued and they receive their refund. Every fourth membership issued will be a resigned membership from the waiting list.
· Transferability of Memberships. Memberships are transferable through the Club to the subsequent purchaser of a member's residence in Blaine County.
· No Assessments. Members are not subject to either operating or capital assessments.
· Legacy Transfer. Golf Members can request the transfer of their membership through the Club to their adult child or grandchild.
· Inheritability. Upon the death of a Golf Member, the membership can be transferred to his or her spouse or adult child or grandchild.
· Club Newsletter. Members will receive a periodic newsletter containing information about events and activities at the Club and other items of interest.
Q: Will there be any other users or types of membership available in the Club?
A: A limited number of Company and Honorary Memberships will also be available and will not count against the membership cap. The Club also reserves the right to issue Corporate Memberships, Sports Memberships, and Private Residence Club Memberships (i.e. fractional memberships).
An agreement with the Sun Valley Elkhorn Association ("SVEA") grants to SVEA members, as well as their renters and guests, six guaranteed starting times each day; two starting times in the early morning, two starting times in the mid-morning and two starting times after noon but before 2 pm. Starting times for SVEA members can be reserved no more than six days and no later than three days in advance of the day of play. These players are entitled to a 10% discount off of the Club's unaccompanied guest rate.
The Club has reached an agreement with the City of Sun Valley which reserves the right to permit a limited amount of daily fee play at off-peak times. For example in season (June 15 – Labor Day) there are public times available after 2 PM, that can be reserved only 3 days in advance with a non-refundable pre-payment. Members though have the right up until the day of play to “bump” a public time for their own use.
The Club also reserves the right to use the club grounds for winter sports and also permit use of the club grounds and the clubhouse by non-members during the winter season.
Q: Are there any reciprocal privileges with other Troon managed clubs?
A: Being a member of the Troon managed club's family has its benefits. In our quest to offer additional value to our members, Golf Members and up to three guests can experience the Troon Advantage program which provides you with the opportunity to secure tee times at over 140 select world-class Troon Golf managed facilities at very special reduced rates. Reservations for tee times may only be secured through the General Manager or Director of Golf of Elkhorn Golf Club and may be reserved up to 30 days in advance outside of Idaho and up to three days in advance within the State of Idaho. Members of other clubs in the Troon Advantage program will have access to the Club Facilities of Elkhorn Golf Club on such terms and conditions as may be determined by the Club from time to time.
Q: When will the membership deposit be repaid to the member?
A: The membership deposit actually paid by a member will be refunded, without interest, 30 years after the date the membership is issued by the Club. Upon resignation of the membership after the 30-year period, a member will receive 80% of the membership deposit amount then charged for the membership, less the amount previously refunded to the member at the end of 30 years, within 30 days after the membership has been reissued by the Club. A member who resigns their membership prior to the end of the 30-year period shall be entitled to a refund equal to the greater of: (i) eighty percent (80%) of the then current membership deposit charged by the Club for the membership or (ii) the membership deposit paid , but in no event to exceed the amount of the then current membership deposit, without interest, within 30 days after reissuance of the membership to a new member. In the event the amount refunded is less than the amount of the membership deposit paid, the difference will be refunded at the end of 30 years.
Q: Can members be assessed to cover any operating deficits or capital improvements?
A: No. Members will not be subject to any liability for capital or operating assessments for the costs and expenses of ownership or operation of the Club or the Club Facilities. The Company will pay all operating deficits incurred in the operation of the Club Facilities and will retain all operating revenues resulting from operation of the Club Facilities. Annual increases in dues shall not be deemed an assessment.
Q: How will the Club keep informed of the desires of the members?
A: The Club is committed to providing the types of services, programs, activities and events that the membership is desirous of having. An advisory Board of Governors comprised of members of the Club will be formed and will enable members to have input on the foregoing items as well as other matters that are of concern to the members.
Q: How do I become a member?
A: To become a member of the Club, you must submit to the Club a fully completed and signed Membership Agreement and a check in the amount of the required membership deposit. Membership is subject to approval by the Club. In the event your agreement is not acted upon favorably, the membership deposit will be fully refunded, without interest.
