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Item 17 RFP # 25-006 for the Lease and Operation of the Forest Lake Golf Club
Meeting Date: November 18, 2025 Item #: 17 Contact Name: Michael Rumer Department Director: Contact Number: Ext. 6434 City Manager: Craig Shadrix Background Summary: On April 1, 2025, the City Commission selected SSS Down To Earth OPCO LLC (DTE) to assume interim operations of the Forest Lake Golf Club. DTE was chosen from three qualified local vendors to manage the course from May 1, 2025, through November 3, 2025. A 30-day extension was later approved on October 7, 2025, extending operations through November 30, 2025. After selecting an interim operator, the City issued RFP #25-006 to identify a long-term tenant to operate the Forest Lake Golf Club. The RFP opened publicly on August 5, 2025, and six responses were evaluated by the City's RFP Evaluation Committee. On August 28, 2025, the Committee short-listed the following three firms: • Hampton Golf Inc./FLGC Golf Holdings LLC • Ocoee Golf Holdings, LLC • Tamarack Golf Management, LLC The City Commission approved the short-listed firms on September 16, 2025, and held a Special Session on October 21, 2025, to interview and receive presentations from each of them. Commissioner George Oliver was absent, but the Commission heard all three presentations and provided brief comments. The Mayor and the Commissioners present voted to continue the item to November 18, 2025, so that Commissioner Oliver could participate in the final vote. Additionally, due to the continuation of the final selection, the Commission needs to further extend DTE up to 90-days which will bring the operations to March 31, 2026. Issue: RFP #25-006 Lease and Operation of the Forest Lake Golf Club final City Commission selection. Recommendations: The Mayor and City Commissioners have the following options: 1. Award the Lease and Operation agreement for RFP #25-006 Lease and Operation of the Forest Lake Golf Club to the one of the shortlisted firms, and authorize staff to proceed with lease agreement negotiations with selected firm or; 2. Reject all proposals for RFP #25-006 Lease and Operation of the Forest Lake Golf Club and direct staff to City of Ocoee • 1 N. Bluford Avenue • Ocoee, Florida 34761 Phone: (407) 905-3100 • www.ocoee.org Page 311 of 356 bring back a plan to address community and commission goals. Additionally, staff recommends the City Commission extend DTE up to 90-days regardless of which direction the commission proceeds with, which will bring the interim operations to March 31, 2026. Attachments: 1. RFP #25-006 Notice of Interviews 2. RFP #25-006 Forest Lake Pro Forma Pre -interview Questions 3. RFP #25-006 Hampton Golf, Inc._FLGC Golf Holdings, LLC - Response to RFI 4. RFP #25-006 Ocoee Golf Holdings, LLC- Response to RFI 5. RFP #25-006 Tamarack Golf Management, LLC - Response to RFI Financial Impacts: No immediate financial impact. Type of Item: Regular Page 312 of 356 0 City Manager Craig Shadrix October 6, 2025 City Commission Special Session Convene First Firm Second Firm Third Firm City Commission Final Rankings Commissioners Scott s, Rosemary. Kennedy, istrict Richard District George Distric] t9 2-22 raxwlawll 7:15 p.m., local time, or as soon thereafter as possible Firms interview order will be randomly selected by holding a drawing 7:20 p.m. — 8:05 p.m., local time 8:1.0 p.m. — 8:55 p.m., local time 9:00 p.m. — 9:45 p.m., local time 10:00 p.m., local time, or as soon thereafter as possible Re: RFP #25-006 Lease and Operation of the Forest Lake Golf Club Notice of Interviews by the City Commission and Request for Additional Information To: The Top Three (3) Shortlisted Firms: Hampton Golf, Inc./FLGC Golf Holdings, LLC Ocoee Golf Holdings, LLC Tamarack Golf Management, LLC The top three (3) shortlisted firms are required by the City Commission, as discussed at the City Commission meeting on September 16, 2025, to submit by email prior to the interview by October 15, 2025 to Olena Stokych at ostokychgocoee.or with a copy Joyce Tolbert at jtolbert &ocoee.or • a more detailed one -page summary outlining their compensation and rent structure, • revenue sharing analysis, • a bank letter verifying proof of funds and financial capacity, • a five-year capital improvement plan, • a golf business growth strategy, and • expanded details regarding food and beverage operations, • complete and provide the attached Forest Lake Pro Forma Pre -Interview Questions spreadsheet. Please be advised on Tuesday, October 21, 2025, at 7:15 p.m., the City Commission will hear presentations at a special session up to fifteen (15) minutes for interviews/presentations with handouts from the three (3) Respondents for RFP #25-006, followed by a thirty (30) minute question and answer period. Interviews will take place at the above -scheduled times and will be held in the Commission Chambers at Ocoee City Hall located at 1 N. Bluford Avenue Ocoee Florida 34761. Time limits will be strictly adhered to; therefore, it is requested for each firm be available during the special session. The public RFP City Commission meeting will follow to finalize the rankings at approximately 10:00 p.m., local time. Special Guidelines: a) Each interview/presentation period will be for a maximum of fifteen (15) minutes for presentations followed by a thirty (30) minute question and answer period, and will be timed. Page 313 of 356 b) There are five (5) members of this City Commission. Please bring nine (9) handouts and one (1) electronic copy, so we have one for the project file. If desired, there will be room for up to two (2) display boards, but there will not be additional time allotted for complex setup. c) Bring all digital media on a Flash Drive in Microsoft applications: MS Powerpoint, MS Excel, or MS Word, or Adobe PDF. The City Hall Chambers is fully equipped with the latest technology for presentations. d) The discussion will start with each finn's presentation, which should include introductions of those persons present, a brief overview of the company, and approach to golf course operation. Please limit the duration of your presentation to allow questions from the City Commission. Respondents should be prepared to answer technical questions regarding their proposals and approach to golf course operation. e) The Respondents will be allowed up to four (4) key project team members to be present. f) All costs for presentations, including travel related costs, shall be the responsibility of the Respondent, and the City shall make no reimbursement of any kind. Should there be any questions regarding the above, please contact me at ostok chgocoee.org. All information concerning this RFP is posted on Bonfire, which may be accessed via the City's website. Sincerely, t Purchasing Analyst Enclosure: Forest Lake Pro Forma Pre -Interview Questions 3 pages Cc: City Commission 2 Page 314 of 356 Forestr Ili to Be Completed By Proposer Company Name: Basis for compensation/rent 2026 2027 2028 2029 2030 Totals Projected Rounds of Golf Income Green Fees (current avg = $43) $ - Cart Fees Merchandise Sales $ Driving Range based on proposers plan to expand/increase revenue $ - Food / Beverage Sales $ Outside Facility Rental/Events $ Other $ Other $ - Other $ Total Income $ - $ - $ - $ - $ - $ - Total Cost of Goods Sold $ - GROSS PROFIT $ - $ - $ - $ - $ - $ - Expenses Golf Operations $ - Total Golf Maintenance $ - Total Food & Beverage $ - Total General & Administration $ - Total Expenses $ - $ - $ - $ - $ - $ NET INCOME Is - $ - $ - $ - $ - $ - Compensation and Rent/revenue share Structure Guaranteed Annual Base Rent $ Additional or Alternative Rent (If Applicable) on Total Income (TI), Net Income (NI) or "Golf only revenue" income(GO) (Specify) Revenue Share calculation per your proposal based on projected revenues $ Other Source(s) per proposal - be specific and clear $ Percentage % of Rent Paid on Golf Only Revenue $ - TOTAL $ RENT w/revenue share and or % based on proposers formula $ $ $ $ $ $ Page 1 Page 315 of 356 Capital Investment Plan and Proof of Financing Capital Investment $ Amount by Year $ - Detailed Scope of Investment by Year (bullets) Financial Capacity - provide a certified bank letter verifying proof of funds associated with all financial commitments outlined in proposal. For each year, indicate amount of capital to be invested. Total Annual Contribution to Future Capital Fund $ - $ $ $ $ $ TOTAL RENT and FUTURE CAPITAL CONTRIBUTION $ $ $ $ $ $ High Level Golf Course, Golf Program and Community Venue Growth Business Plan by Year (bulleted) High Level Description of plans for food and beverage operations by Year (bulleted) Page 2 Page 316 of 356 From: David Mayo To: Stobych OUena; Justin Kuehn Cc' jai�t_]=e Subject: RE: Reminder xFp#ao'nnoLease and Operation mthe Forest Lake Golf Club Date: Wednesday, October zr.xnooa:zn:ax PM Attachments: UnNmLo� FLGC GOLF HOLDINGS, LLC (HG) Forest Lake Financial CapL��2. df FLGC GOLF HOLDINGS, LLC (HG) Forest Lake RFP Interview QuestionsAnswers FINAL SUBMISSION.pd FLGC GOLF HOLDINGS, LLC CHG) Forest Lake RFP #25-006 Notice of Interviews Enclosure October 21 2025 Forest Lake Pro Forma Pre -Interview Questions HG 10.15.25. FINAL SURMLT.pdf FLGC GOLF HOLDINGS, LLC CHG) Forest Lake Financial Caj?aLLty 1.adf Good Afternoon, Please se attached all the requested documents for the Lease and operation of the Forest Lake Golf Club. From: Stokvch,O|ena<OStokvch@ocoeeor8> Sent: Tuesday, October 14, 2025 3:49 PM To: David Mayo <dmayo@hampton.golf>; Justin Kuehn <jkuehn@hampton.golf> Cc: Tolbert, Joyce <JTo|beri@ncoeeorgx Subject: Reminder RFP#Z5-006Lease and Operation ofthe Forest Lake Golf Club Importance: High Good afternoon. As a reminder, the last day to submit the requested information before the interview for RFP #25- 006 Looking forward to hearing from you. Thank you. Purchasing Analyst Page 317 of 356 BudgetForest Lake Golf Course - 5 Year all cells to Be Completedr Company Name: FLGC Golf Holdings, LLC / Hampton Golf Basis for compensation/rent 2026 2027 2028 2029 2030 Totals Projected Rounds of Golf 55,200 55,200 55,200 55,200 55,200 276,000 Income Green Fees (current avg = $43) $ 2,484,000.00 $ 2,533,680.00 $ 2,584,354.00 $ 2,636,041.00 $ 2,688,761.00 $ 12,926,836.00 Cart Fees $ - $ - $ - $ - $ - $ - Merchandise Sales $ 165,600.00 $ 168,912.00 $ 172,290.00 $ 175,736.00 $ 179,251.00 $ 861,789.00 Driving Range based on proposers pIan to expand/increase revenue $ 2,037,600.00 $ 2,139,480.00 $ 2,246,454.00 $ 2,358,777.00 $ 2,476,716.00 $ 11,259,027.00 Food / Beverage Sales $ 3,588,000.00 $ 3,759,600.00 $ 3,939,078.50 $ 4,126,753.45 $ 4,322,989.80 $ 19,736,421.75 Outside Facility Rental/Events $ 85,000.00 $ 92,650.00 $ 100,998.50 $ 110,088.37 $ 119,996.32 $ 508,733.19 Company Events $ 55,000.00 $ 59,950.00 $ 65,345.50 $ 71,226.50 $ 77,636.89 $ 329,158.89 Network events $ 30,000.00 $ 32,700.00 $ 35,643.00 $ 38,850.87 $ 42,347.45 $ 179,541.32 Private Parties $ 25,000.00 $ 27,250.00 $ 29,702.50 $ 32,375.73 $ 35,289.55 $ 149,617.78 Total Income $ 8,470,200.00 $ 8,814,222.00 $ 9,173,866.00 $ 9,549,848.92 $ 9,942,988.01 $ 45,951,124.93 Total Cost of Goods Sold $ 1,262,723.00 $ 1,322,630.00 $ 1,385,468.00 $ 1,451,382.00 $ 1,520,524.00 $ 6,942,727.00 GROSS PROFIT $ 7,207,477.00 $ 7,491,592.00 $ 7,788,398.00 $ 8,098,466.92 $ 8,422,464.01 $ 39,008,397.93 Expenses Golf Operations $ 716,941.00 $ 724,110.00 $ 731,351.00 $ 738,665.00 $ 746,051.00 $ 3,657,118.00 Total Golf Maintenance $ 1,133,690.00 $ 1,145,027.00 $ 1,156,477.00 $ 1,168,042.00 $ 1,179,723.00 $ 5,782,959.00 Total Food & Beverage $ 1,506,794.00 $ 1,521,862.00 $ 1,537,081.00 $ 1,552,452.00 $ 1,567,976.00 $ 7,686,165.00 Total General & Administration $ 1,413,509.00 $ 1,427,644.00 $ 1,441,921.00 $ 1,456,340.00 $ 1,470,903.00 $ 7,210,317.00 Total Expenses $ 4,053,993.00 $ 4,818,643.00 $ 4,866,830.00 $ 4,915,499.00 $ 4,964,653.00 $ 23,619,618.00 NET INCOME $ 3,153,484.00 $ 2,672,949.00 $ 2,921,568.00 $ 3,182,967.92 $ 3,457,811.01 $ 15,388,779.93 Compensation and Rent/revenue share Structure Guaranteed Annual Base Rent $ 240,000.00 $ 240,000.00 $ 240,000.00 $ 240,000.00 $ 240,000.00 $ 1,200,000.00 Page 1 Page 318 of 356 Additional or Alternative Rent (If 5% of ALL GROSS REVENUE OF THE CLUB WITH NO Applicable) on Total Income (TI), Net Income (NI) or "Golf only EXCLUDED REVENUE WHATSOEVER. revenue" income(GO) (Specify) Revenue Share calculation per your proposal based on projected N/A N/A N/A N/A N/A revenues $ _ Other Source(s) per proposal - be N/A N/A N/A N/A N/A specific and clear $ Percentage % of Rent Paid on ALL Gross Revenue of the club $ 183,510.00 $ 200,711.00 $ 218,693.00 $ 237,492.00 $ 257,149.00 $ 1,097,555.00 TOTAL $ RENT w/revenue share and or % based on proposers formula Is 423,510.00 $ 440,711.00 $ 458,693.00 $ 477,492.00 $ 497,149.00 $ 2,297,555.00 Capital Investment Plan and Proof of Financing Capital Investment $ Amount by Year $ 2,000,000.00 $ 11,900,000.00 $ 1,000,000.00 $ 1,000,000.00 $ 500,000.00 $ 16,400,000.00 Detailed Scope of Investment by Refer to Proposer's response to the notice of interviews and its respective RFP submission Year (bullets) Financial Capacity - provide a certified bank letter verifying proof of funds associated with all Proposer submitted the requisite proof of its financial capacity in proper's response to the notice of interviews. financial commitments outlined in proposal. For each year, indicate amount of capital to be invested. Total Annual Contribution to Future Capital Fund $ 150,000.00 $ 150,000.00 $ 150,000.00 $ 150,000.00 $ 150,000.00 $ 750,000.00 Page 2 Page 319 of 356 TOTAL RENT and FUTURE CAPITAL CONTRIBUTION $ 573,510.00 $ 590,711.00 $ 608,693.00 $ 627,492.00 $ 647,149.00 $ 3,047,555.00 High Level Golf Course, Golf Program and Community Venue Refer to Proposer's response to the notice of interviews and its respective RFP submission Growth Business Plan by Year (bulleted) High Level Description of plans for food and beverage operations Refer to Proposer's response to the notice of interviews and its respective RFP submission by Year (bulleted) Page 3 Page 320 of 356 Forest Lake RFP Interview Questions FLGC GOLF HOLDINGS, LLC October 15, 2025 Pursuant to that certain Notice of Interview by the City Commission and Request for Additional information (the "Notice"), FLGC GOLF HOLDINGS, LLC/HAMPTON GOLF ("Proposer") hereby provides the following information related to the Notice: I A more detailed onepW summary outlining their compensation and rent structure o Initial submitted proposal: ■ Initial Term: ■ Renewal Term: ■ Commencement Date: ■ Minimum Annual Guaranteed Rent: ■ Percentage Rent: ■ Security Deposit: ■ Guarantor: ■ Letter of credit: ■ Performance security ■ Surety Company ■ Insurance Company/Agent ■ Asset Manager ■ Resident Program 2 Revenue Sharinz Analysis 10 Years Four 10-year renewal options January 1, 2026 $240,000 ($20,000 monthly) 5% of ALL Gross Revenue of the Club 3 Months of minimum annual guarantee Corporate Guaranty Irrevocable letter of credit Performance bond Zurich David Cosper 2% of all gross revenue of the club Yes (As further described below) ------------ i •., i •� A # # t # # Annual Base Rent RevenueGuaranteed .. ! per e proposal on projected revenues TOTAL $ RENT w/revenue share t or r based on proposers formula a. The City of Ocoee will receive 5% of gross revenue of the club or the minimum annual guaranteed rent, whichever is greater. 3 Bank letter verifying proof of funds and financial capacity — Please see attached. 4 Five-year Capital Improvement Plan a. Year 1: 2026 — Phase 1— $2,000,000 i. Renovation of existing clubhouse and rejuvenation of food & beverage operations: $500,000 1 Page 321 of 356 ii. Cart path repair to fix potholes and improve overall surface: $500,000 iii. Re -grassing of 9 greens: $400,000 iv. Leveling and re -grassing of Tee boxes: $200,000 v. Landscape improvements: $400,000 b. Year 2: 2027 — Phase 2 — $11,900,000 i. New clubhouse (9,000 SF) featuring vista views: $9,500,000 ii. Re -grassing of 9 Greens: $400,000 iii. New parking lot: $500,000 iv. New covered driving range (20 bays): $1,500,000 c. Year 3: 2028 — Phase 3 — $1,000,000 i. Irrigation repair and partial replacement on 9 holes: $1,000,000 d. Year 4: 2029 — Phase 4 — $1,000,000 i. Irrigation repair and partial replacement on 9 holes: $1,000,000 e. Year 5: 2030 — Phase 5 — $500,000 i. Covered driving range (additional 20 bays): $500,000 5 Golf Business Growth Stratezy a. Growing Resident, Member, and Guest Golf Usaze i. Introduction of guest offerings aligned with underutilized tee sheet periods through the installation of an automated predictive pricing system. ii. Emphasis on golf programming —specifically golf events, tournaments, and leagues —to drive participation and engagement. iii. Tracking each guest's activity and communicating tailored messages based on their individual behaviors and preferences. iv. Implementation of programs designed to encourage incremental spending during each visit without compromising profit margins. v. Expansion of hours of operation, as needed, following a review of utilization patterns. b. Events i. Hosting of an annual tournament for current Major participants. ii. hosting of high school and collegiate golf tournaments to promote community involvement and visibility. c. Junior Programs i. Expansion of junior golf programs to foster early engagement and long-term player development. ii. Continued active support of First Tee — Central Florida through expanded onsite collaboration at Forest Lake, providing access to the practice facility, driving range, and golf course for youth programs (ages 7-18) that blend golf skills with life and leadership lessons. d. Resident Appreciation Program i. Introduction of resident discounts to increase participation and loyalty among the local community. Page 322 of 356 ii. Engagement of residents who do not currently play golf through the development of a covered, garnified driving range paired with enhanced food and beverage offerings. This synergy will create a natural transition from social engagement to golf participation. e. Please note: This program will be executed in alignment with the approved Capital Improvement Plan (see section above for details). 6 Expanded Details &zardink Food and Beverage Operations Vision and Approach Our objective is to deliver a comprehensive food and beverage program that positions Forest Lake Golf Club and Rusty Niblick Pub as not only a premier golf destination, but also as a vibrant social and dining hub. The offerings will rival and in many cases exceed those of neighboring private clubs and popular casual restaurants in the community, such as Miller's Ale House and similar regional operators. The food and beverage program will serve three primary audiences: 1. Clubhouse Members and Golfers — providing reliable, quality offerings before, during, and after play. 2. Driving Range and Entertainment Patrons — activating the new double -level, 40-b range with a modem, fun, shareable menu designed for groups. I 3. Community Guests — positioning the facility as a go -to option for casual dining, events, and gatherings, even for those not playing golf. i. Concept: Casual -upscale clubhouse restaurant offering a sit-down experience for members, golfers, and community patrons. ii. Menu Design: Balanced between traditional clubhouse fare (sandwiches, salads, wraps, burgers) and elevated entree selections (fresh fish, steaks, chef s specials). iii. Price Point: $12—$20 for lunch entrees; $18—$28 for dinner entrees, consistent with well- known casual dining restaurants. iv. Quality Standards: Comparable or superior to neighboring private clubs, with an emphasis on fresh ingredients, seasonal specials, and signature dishes unique to the facility. V. Beverage Program: Full bar service including local craft beers, curated wine list, and cocktails that appeal to both golfers and social diners. i. Concept: An energetic, "social sports bar" food and beverage experience integrated into the 40-bay double -level range, modeled on a smaller -scale Topgolf environment. ii. Menu Design: a. Shareable plates: wings, sliders, flatbreads, nachos, loaded fries. 3 Page 323 of 356 b. Group platters for bays: sampler boards, buckets of beer/seltzers, pitchers of cocktails. c. Kid -friendly options for families. iii. Price Point: Competitive with Alehouse and casual dining restaurants ($10—$16 for appetizers; $12—$20 for entrees). iv. Beverage Program: Branded signature cocktails, frozen drinks, domestic/craft beer buckets, and wine by the glass or bottle. Laxalum i. Beverage Carts: Two mobile carts circulating the course daily, stocked with cold drinks, sandwiches, snacks, and grab -and -go options. ii. Halfway House/Kiosk: Convenient walk-up service near the turn offering hot dogs, handheld sandwiches, energy drinks, and quick service items to maintain pace of play. i. Clubhouse Banquet Rooms: Flexible event space for private parties, corporate outings, weddings, and golf tournaments. ii. Menu Offerings: Buffet, plated, and cocktail reception formats. Pricing custornizable to community standards, with competitive packages. Revenue Impact: Events drive incremental non -golf revenue while expanding EMEHEMINUK�%� i. Benchmarking: Our menu and pricing strategy will be benchmarked quarterly against leading local restaurants (e.g., Miller's Ale House, family -friendly casual dining operators) and neighboring golf clubs to ensure quality and competitiveness. ii. Quality Control: We will employ an experienced Executive Chef and F&B Director to oversee kitchen operations, service training, and menu development. iii. Community Activation: Weekly specials, live music nights, happy hours, and seasonal events (e.g., football watch parties, holiday brunches) will make the clubhouse and range a consistent draw beyond golf. CLERMONT, FLORIDA. ii. A clubhouse restaurant experience meeting or exceeding private club standards. iii. A driving range activation model delivering a "mini-Topgolf' destination for all ages. iv. A community -friendly price point comparable to regional Miller Ale House -style restaurants. V. A flexible event and banquet program generating new revenue streams. vi. Assurance that the facility will become a regional attraction for golf, dining, and entertainment. 0 Page 324 of 356 h. Please note: This program will be executed in alignment with the approved Capital Improvement Plan (see section above for details). Page 325 of 356 Stokych, Olena From: Grant Johnson <gjohnson@troon.com> Sent: Wednesday, October 15, 2025 1:50 PM To: Tolbert, Joyce; Stokych, Olena Cc: Adam Laufer; Don Lipari; Bob Greenberg; Peter Solberg Subject: RE: Reminder - RFP #25-006 Lease and Operation of the Forest Lake Golf Club Attachments: RFP 25-006 Forest Lake Pro Forma Pre -Interview Questions - Ocoee Golf Holdings LLC -10.15.25.xlsx; Proposed Terms & Exceptions - Ocoee Golf Holdings, LLC.pdf, 5-Year Capital Improvement Plan - Ocoee Golf Holdings, LLC.pdf, 10-Year Proforma - Ocoee Golf Holdings, LLC.pdf, Proof of Funds (3).pdf, Proof of Funds (1).pdf, Proof of Funds (2).PDF Thank you for the opportunity to provide this additional information as requested by the Selection Committee for RFP #25-006. Please confirm receipt of our response. We have outlined the requested information below and in the numerous attachments: • a more detailed one -page summary outlining their compensation and rent structure, Pee attached "Proposed Terns & Exceptions" revenue sharing analysis, Please see the attached spreadsheet with detail on Revenue, Expenses and Capital in the first 5 years. Additionally, we have provided oUr 10-gear proforma provided in our initial response. Ocoee golf Holdings, l..L.0 has provided a proposal in which The City will receive $5.35M of capital investment into Forest Fake over the first 24 months of the term and 3.5% of Cross Revenues beginning in year 5. Over the proposed 1 0-year term, this totals $6.19M. Beyond this, we have proposed annual. Lease rent of $100,000 per annurn + a golf revenue share above outlined thresholds (see proposed terms) beginning in year 5. Over the 10-year terai, the City will receive 7.29M in Rent + Capital Improvements, egr:all.y 63% of the proposed 10-year EBITL AR. • a bank letter verifying proof of funds and financial capacity, Please see attached"Proof of Funds Letters 1,2 &Y - marked confidential. • a five-year capital improvement plan, Please see attached "5-Fear Capital Improvement Plan" detailing the timeline and project scope for our initial $5.35M capital investment to be spent over the first 24.-months of the term. a golf business growth strategy, and Ocoee Golf Holdings, L LC business growth strateg focuses on revitalizing the golf experience through reinvestment, programming diversity, and data -driven operations under Troon's proven management moee . antrato this approach is enhancing course ua �ty, upgra ingtae driving range and irrigation systems, and implementing a robust player development program through the Kyle Berkshire Academy and certified POABL.Pt3A instruction. Growth will be driven by increased rounds, yield optimisation, new membership and instructional revenue streams, and destination - Page 326 of 356 level events that boost visibility and COMMUnity engagement. Leveraging Troon's national. marketing, Loyalty, and customer anal tics platforms, Forest Lake will sustain long-term participation and revenue growth while positioning itself as a modern, inclusive, and high - performing municipal golf destination. • expanded details regarding food and beverage operations, While term restrictions and the significant capital required limit immediate investment in a new clubhouse and restaUrant, Ocoee Golf Holdings will explore all available sources of capital funds to evatUate the feasibility of future clubhouse development. In the interim, our F&B strategy emphasizes Leveraging modern kitchen FF&E to produce elevated, diverse offerings that enhance the guest experience and improve operational efficiency. The expanded patio and food truck area will serve as a lively, inviting social hub creating an approachable, community -driven environment that complements the reimagined driving range and overall energy of Forest Lake Golf Club. • complete and provide the attached Forest Lake Pro Forma Pre -Interview Questions spreadsheet. Please see attached the completed spreadsheet. The numbers provided directly reflect the initial 1 0-year proforr'na provided in our initial response. We have provided the 1 0-year Proforma again as it details Miry our Proposed Rent and Capital Plan including base rent, revenue sharing and capital reserve fund. We took forward to discussing these topics further in our scheduled presentation. Should you have any immediate questions, please do not hesitate to contact us. Sincerely, Grant Johnson I Director, Business Development Troon I c 571.926.5011 1 glo nsonfftrooncom rfj�*� From: Adam Laufer <alaufer@gmail.com> Sent: Tuesday, October 14, 2025 3:57 PM To: Grant Johnson <gjohnson@troon.com> Subject: Fwd: Reminder - RFP #25-006 Lease and Operation of the Forest Lake Golf Club Sent from my iPhone Begin forwarded message: From: "Stokych, Otena" <OSto. kych. @ocoee.org> Date: October 14, 2025 at 3:51:37 PM EDT To: Donald Lipari <donli_p5__ouW1ook.com>, aLaufer@gmai1.c_corn, rrg877@icioud.com, P-a-oi -e-rg-@troo—n.com — Page 327 of 356 Forest Lake Golf Course r Budget Forecastr Company Name: Basis for compensation/rent 2026 2027 2028 2029 2030 Totals Projected Rounds of Golf 54,750 44,938 57,488 60,362 62,173 Income Green Fees (current avg = 43) $ 1,180,762 $ 893,602 $ 1,413,373 $ 1,558,243 $ 1,653,140 $ 6,699,119.87 Cart Fees $ 396,375 $ 309,068 $ 525,861 $ 579,762 $ 615,069 Merchandise Sales $ 164,250 $ 136,835 $ 177,675 $ 189,357 $ 197,964 $ 866,080.80 Driving Range based on proposers plan to expand/increase revenue $ 292,563 $ 425,027 $ 691,179 $ 762,025 $ 808,432 $ 2,979,225.39 Food / Beverage Sales $ 468,650 $ 563,522 $ 622,484 $ 663,413 $ 693,565 $ 3,011,634.09 Outside Facility Rental/Events $ 20,000 $ 16,662 $ 26,565 $ 28,312 $ 29,598 $ 121,136.82 Other - Other Golf Revenue (chib rental., $ 49,250 $ 49,250 $ 50,481 $ 51,743 $ 52,778 $ 253,502.68 Other - Clinic / School Revenue $ 70,000 $ 108,500 $ 181,738 $ 186,281 $ 190,007 $ 736,524.99 Other - Mernbership/'ass Sales $ 211,250 $ 211,250 $ 216,531 $ 221,945 $ 226,383 $ 1,087,359.20 Total Income $ 2,853,100 $ 2,713,716 $ 3,905,887 $ 4,241,080 $ 4,466,936 $ 18,180,719 Total Cost of Goods Sold $ 305,502 $ 319,585 $ 436,798 $ 465,502 $ 486,251 $ 2,013,637 GROSS PROFIT $ 2,547,598 $ 2,394,131 $ 3,469,089 $ 3,775,578 $ 3,980,686 $ 16,167,082 Expenses Golf Operations $ 442,522 $ 455,392 $ 465,541 $ 477,284 $ 489,380 $ 2,330,119 Total Golf Maintenance $ 1,185,368 $ 1,214,847 $ 1,282,286 $ 1,311,548 $ 1,341,688 $ 6,335,736 Total Food & Beverage $ 209,666 $ 216,889 $ 222,101 $ 228,764 $ 235,627 $ 1,113,048 Total General & Administration $ 505,920 $ 521,849 $ 527,387 $ 543,209 $ 559,505 $ 2,657,870 Total Expenses $ 2,343,475 $ 2,408,977 $ 2,497,315 $ 2,560,805 $ 2,626,200 $ 12,436,773 NET INCOME $ 204,123 $ (14,846) $ 971,774 $ 1,214,773 $ 1,354,486 $ 3,730,309 Compensation and Rent revenue share Structure - See attached .0 Year Pro orma Guaranteed Annual Base Rent $ $ $ $ $ $ _ Additional or Alternative Rent (If Applicable) on Total Income (TI), Net Income (NI) or "Golf only revenue" income(GO) (Specify) $ - Page 1 Page 328 of 356 Revenue Share calculation per your proposal based on projected revenues $ Other Source(s) per proposal - be specific and clear Percentage % of Rent Paid on Golf Only Revenue $ $ $ $ $ $ TOTAL $ RENT w/revenue share and or % based on proposers formula I$ $ $ $ $ Capital Investment Plan and Proof of Financing Capital Investment $ Amount by Year $ 1,850,000.00 $ 3,500,000.00 1 $ Is Is Is 5,350,000.00 Detailed Scope of Investment by Please see attached "S-Year Capital Improvement Plan" detailing the timeline and project scope for our initial. 5,35M capital Year (bullets) investment to bespent over the first 24-months of the term, Financial Capacity - provide a certified bank letter verifying proof of funds associated with all financial commitments outlined in proposal. For each year, indicate amount of capital to be invested. see emailed response for Proof of Funds Letters Total Annual Contribution to Future Capital Fund $ 1,850,000.00 $ 3,500,000.00 $ $ $ $ 5,350,000.00 TOTAL RENT and FUTURE CAPITAL CONTRIBUTION I 1$ 1,850,000.00 1 $ 3,500,000.00 1 $ $ $ 00.00 $ 5,350,01 Page 2 Page 329 of 356 Ocoee Golf Moldings, LLC business growth strategy focuses on revitalizing the golf experience through reinvestment, programming diversity, and data -driven operations under Troon's proven management model. Central to this approach is enhancing course quality, upgrading the driving range and irrigation High level Golf Course, Golf systems, and implementing a robust player development program through the 1C le Berkshire Academy Y p g p y P p g g y y Program and Community Venue and certified PGA/LPGA instruction. Growth will be driven by increased rounds, yield optlrnization, new Growth Business Plan by Year membership and instructional revenue streams, and destination -level events that boost visibli ty an (bulleted) community engagement, Leveraging Troon's national marketing, loyalty, and customer analytics platforms, Forest Lake will sus aln long- errn participation and revenue growth while positioning Itself as a modern, inclusive, and high -performing nnunlclpal golf destination While terra restrictions and the significant capital requlred firnit immediate investment in a new clubhouse and restaurant, Ocoee Golf Moldings will explore all available sources of capital funds to High Level Description of plans evaluate the feasibility of future clubhouse development. In the interim, our F .B strategy emphasizes for food and beverage operations leveraging modern kitchen FF&E to produce elevated, diverse offerings that enhance the guest experience by Year (bulleted) and improve operational efficiency. The expanded patio and food truck area will serve as a lively, inviting social hub --creating an approachable, community -driven envlronrnent that complements the relrnaglned driving range and overall energy of Forest Lake Golf Club. Page 3 Page 330 of 356 Ocoee Golf Holdings, LLC has developed a comprehensive Capital Improvement Plan focused on both foundational infrastructure upgrades and high -impact, revenue -generating enhancements designed to reposition Ocoee National Golf Course as the future Ocoee National Golf Club. We are committed to implementing a core capital program totaling $5.35 minion within the first 24 months of the Lease term, addressing critical improvements to the golf course, practice facility, maintenance infrastructure, and clubhouse. These investments are designed to elevate the facility's condition, guest experience, and Long-term financial sustainabiLity. In addition to this baseline commitment, we have identified a broader List of aspirationat improvements —projects that would further enhance the destination but are not included in our initial capital outlay. These potential future investments will be pursued through strategic fundraising efforts, including the solicitation of grants, private donations, sponsorships, and community partnerships. Through this phased and responsible approach, Ocoee Golf Holdings is prepared to deliver both immediate upgrades and Long-term transformational impact. Below is a summary of the anticipated capital investment projects: CATEGORY: Driving Range TIMELINE: Yearl COST ESTIMATE: $1,200,000 To elevate the practice facility into a true year-round destination, Ocoee Golf Holdings will add 20 upgraded driving range bays, each equipped with advanced technology, overhead Lighting, and comfortable seating to enhance both daytime and evening use. These bays will be designed to support interactive ball -tracking systems and digital game play, appealing to golfers of all skill levels as well as recreational users seeking a more social, engaging experience. The project also includes the installation of new range targets to support instructional programming and player development, as well as an extension of the range netting along the perimeter to ensure safety — particularly along adjacent roadways. These enhancements will transform the driving range into a signature feature of Ocoee National Golf Club, offering a dynamic blend of entertainment and training that drives usage, revenue, and community appeal. CATEGORY: Driving Range & Clubhouse TIMELINE: Yearl COST ESTIMATE: $300, 000 To elevate the golfer experience and meet anticipated increases in food and beverage demand, Ocoee Golf Holdings will invest $300,000 to transform the existing clubhouse patio into a modern, activated outdoor F&B zone. This expanded space will serve as a central hub for casual dining and social gathering, featuring a dedicated food truck pad, modular outdoor bar, upgraded patio seating, and ambient lighting —all designed to create an inviting, flexible environment for golfers and community visitors alike. Strategically Located to serve guests on the driving range, making the turn, or relaxing post -round, the space will encourage dwell time and significantly enhance F&B revenue potential. The project also anticipates necessary upgrades to restroom capacity and ADA-compliant access, ensuring the facility remains inclusive and functional as traffic grows. Beyond its functional benefits, this new social zone wilt serve as a signature "hang spot" at Ocoee National Golf Club —complementing the technology -driven range experience, hosting events and gatherings, and positioning the facility as a year-round destination for both golf and Leisure. CATEGORY: Golf Course TIMELINE: Year2 COST ESTIMATE: $3,500,000 A top priority in Ocoee Golf Holdings' capital improvement plan is the complete replacement of the existing irrigation system, with a dedicated investment of $3.5 million. A modern, efficient irrigation system is essential to improving turf health, playability, and long-term sustainability at Ocoee National Golf Club. The new system will feature state-of- the-art central controls, individual head coverage, and water -saving technologies that allow for precise management of turf conditions across greens, fairways, tees, and roughs. This investment wit[ dramatically improve course conditioning, reduce water usage, and lower long-term maintenance costs —supporting both environmental stewardship and exceptional player experience. In addition, a modern irrigation infrastructure will enhance agronomic flexibility, supporting future course enhancements and ensuring consistent quality year- round. CATEGORY: Clubhouse TIMELINE: Year1 COST ESTIMATE: $175,000 REPAIRSCLUBHOUSE ROOF , To address existing water intrusion and preserve the structural integrity of the facility, Ocoee Golf Holdings will allocate $50,000 to perform targeted roof repairs on the clubhouse. This work will address active leaks, prevent further damage to interior finishes, and ensure the building remains safe, dry, and functional for staff and guests. CLUBHOUSE INTERIORS REFRESH - R 000 In tandem with structural repairs, an additional $125,000 will be invested in a cosmetic interior refresh of the clubhouse to elevate the overall guest experience. This includes new carpeting, updated furniture, fixtures, and equipment (FF&E), and minor layout enhancements to create a more welcoming and functional environment. These upgrades are designed to align the interior atmosphere with the elevated outdoor amenities and practice areas, reinforcing a cohesive, modern brand identity throughout Ocoee National Golf Club. CATEGORY: Golf Course TIMELINE: Yearl COST ESTIMATE: $1,500,000 - Operational Expense Ocoee Golf Holdings will invest $1.5 million in a new, state-of-the-art fleet of maintenance equipment to support the ongoing care and operational excellence of Ocoee National Golf Club. This upgraded fleet will include modern mowers, utility vehicles, turf care machinery, and specialized equipment designed to improve efficiency, enhance turf quality, and reduce downtime. By equipping the maintenance team with advanced tools and technology, the club will ensure superior course conditions year-round, optimize labor productivity, and support sustainable agronomic practices critical to the Long-term success of the facility. This new maintenance equipment fleet will be acquired through an operating [ease financed over a 60-month term, allowing for manageable capital expenditures white ensuring the latest technology and equipment remain in use throughout the [ease period. in addition to the committed $5.25 million capital improvement plan, Ocoee Golf Holdings has identified a series of future enhancement projects that will further elevate Ocoee National Golf Club to a superior competitive and recreational Level. These projects are contingent upon securing additional funding beyond the baseline capital commitment and are intended to drive continued facility improvement, player experience, and Long-term value. To incentivize additional investment, Ocoee Golf Holdings proposes that for each incremental $1 million invested above the initial $5.25 million, the Lease agreement term will be automatically extended by four years, providing mutual benefit and a strong alignment of interests for Long-term facility stewardship. Potential future projects under consideration include: • Greens replacement and renovation • Maintenance facility expansion • Wash station installation • Bunker restoration and redesign • Course -wide drainage improvements • Regrassing of tees, fairways, and rough areas • New tee construction • Cart path repairs and upgrades These projects will be prioritized based on available capital and operational needs, and will be pursued through a combination of grants, sponsorships, private donations, and reinvested revenues. Ocoee Golf Holdings remains committed to transparently evaluating and implementing these enhancements to ensure Ocoee National remains a premier golf destination. PROPOSED CAPITAL IMPROVEMENTS FOREST LAKE GOLF COURSE TROON Description. CATEGORY YEAR S COST CAPA41 „ ,,: ap to ," q dp 8%t+KaG= C1f7fia C8pii0 , p ai dII'.' Olpi ..,' Capf E „i-„ 1. .. Annual Capital Reserve 3.50 % $845,236 $ $ $ $ $ $ 161,271 $ 165,248 $ 169,316 $ 173,397 $ 175,998 $ 845,236 Cumulative ACR $. _..... $ _ $ _ $... _....... $ _ $ 161,278 $.... 326,526 $ 495,841 $ 669,238 $_.. 845,236 Maintenance / Course Projects _.100,000 Start Up Equipment 1 $100,000 $.. 100,000 $ $ $_. $ $ $_.. $ $ $_.. $ Range Structure & Technology 1 $1,200,000 15 1,200,000 $ $ $... $ $ $..... $ $ $....-........ $ 1,200,000 Food Truck, & Outside Bar 1 $175,000 $ 175,000. $ $ $... $ $ $... -..... $ $ $.... $ 175,000 Patio Expansions 1 $200,000 $.. 200,000 $ $ $.... _..... $ $ $..... $ $ $...... _....... $ 200,000 New Irrigation System 2 $3,500,000 $... __.. $ 3,500,000 $ $_. $ $ $_. $ $ $_.. $ 3,500,000 Clubhouse Roof 1 $50,000 $.. 50,000 $ $ $_. $ $ $_.. _..... $ $ $.... _........$ 50,000 Clubhouse Interior Updates 1 $125,000 $ 125,000 $ $ $ $ $ $.... $ $ $.... $ 125,000 Sub -Total Maintenance Course Projects $5,350,000 $ 1,850,000 $ 3,500,000 $ - $ - $ - $ - $ - $ - $ - $.... - $ 5,350,000 Cumulative Maintenance/ Course Projects $ 1,850,000 $ 5,350,000 $ 5,350.000 $ 5,350, 000 $ 5,350'000 $ 5'350,000 $ 5,350,000 $ 5,350,000 $ 5,350,000 $ 5,350,000 $ (1,850,000) $ (5,350,000) $ (5,350,000) $ (5,350,000) $ (5,35Q000) $ (5,188,722) $ (5,023,474) $ (4,854,159) $ (4,680,762) $ (4,504,764) Total Proposed Capital $5,350,000 $ 1,850,000 $ 3,500,000 $ $ $ $ 161,278 $ 165,248 $ 169,316 $ 173,397 $ 175,998 $ 6,195,236 Cumuuative Proposed Capital $267,500 $ 1,850,000 $ 5,35Q000 $ 5,35Q000 $ 5,350,000 $ 5,35Q000 $ 5,511,278 $ 5,676,526 $ 5,845,841 $ 6,019,238 $ 6,195,236 Page 336 of 356 �;i ` '�' � t 1 � � Rya"{ � ���` ��1i� ' � C �� 7 ,€� �� �� is tr `�f�c; 2 s��t �� �� ii iR: 1� � a �� it�� { ttft�+ ti�'rt��,�.�, � �"�}Gu?,�di��iY�u .,.,. ,� e .tG.w;,. Ocoee Golf Holdings, LLC (OGH) proposal is structured as a Lease Agreement between OGH and the City, covering the management, operation, and financial responsibility of Ocoee National. OGH will subcontract with Troon to provide complete turn -key management including, golf operations, F&B operations, golf course and facility maintenance, marketing and promotion, general and administrative functions, operating budgeting, employee hiring and training, capital project recommendations/execution, and financial management and reporting. All employees would be employees of Troon. OGH shalt pay the City a Base Fee, a Gross Revenues Fee (based upon percentages of Greens Fees, Cart Fees, and Membership / Card Holder Revenues over a defined threshold) and contribute annually to a Capital Improvement Fund for the sole and exclusive right to manage, direct and use of the facility. This structure best aligns the interests of OGH and the City. The structure promotes the growth of rounds and gross revenues for the benefit of Ocoee National and would provide both OGH and the City financial incentive for increased revenues and more efficient operations. OGH is dedicated to the goals of achieving the financial and community/recreational goals of the City. OGH remains open to discussion about alternative structures, and ultimately is committed to developing the most advantageous Long-term partnership for both the City and OGH. OGH reserves the right to engage in discussions with the City with respect to this Response and Bid Proposal. ® Ten (10) years, two five (5) year extension at the sole discretion of OHG. BASE FEE: OGH will pay the Town an Annual Base Fee of $0 per annum in years 1-5, $100,000 per annum in years 6-10, and if extended, $150,000 per annum in years 11-15, and $200,000 per annum in years 16-20. The Annual Base Fee shalt be paid in twelve equal installments. REVENUE SHARE: OGH shall pay to the Town a revenue share ("Revenue Share") of Gross Golf Revenues, Gross Food & Beverage Revenues and Gross Other Revenues (as defined below) equal to a certain percent that exceed the annual thresholds ("Annual Thresholds") for the 2025 Calendar Year Revenues for Ocoee National as described below: a. Gross Golf Revenues - Fifteen percent (15%) of Gross Golf Revenues that exceed an Annual Threshold of One Million and Eight Hundred Thousand Dollars ($1,800,000) but are less than or equal to Two Million Two Hundred and Fifty Thousand Dollars ($2,250,000), and Thirty Five percent (35%) of Gross Golf Revenues that exceed an Annual Threshold of wo Million Two Hundred and Fifty Thousand Dollars ($2,250,000). "Gross Golf Revenue" means gross receipts from green fees, cart fees, and membership / loyalty card holder fees. b. Revenue Share thresholds above shall increase annually two- and one-half percent (2.5%). c. Golf Instruction, Driving Range, Food & Beverage, and Clinic/Camp Revenue shall not be calculated in revenue share fees to the City. d. Revenue Share amounts will be paid no Later than May 31st of the following Year. OGH shall remain solely responsible for all obligations of the agreement and the City shall have full recourse to OGH for any liabilities caused by this entity. All employees at Ocoee National shall be Troon employees and will. work exclusively for the benefit of Ocoee National. Troon and OGH wit[ retain exclusive right to hire and terminate employees. COURSE OPERATION: ALL operating expenses of Ocoee National shall be the responsibility of OGH. OGH wit[ execute an Operating Lease for the golf carts and maintenance equipment with funds inside of the operational budget. GOLF ® OGH will procure a new golf cart fleet at Ocoee National in Year 1 with the anticipation of replacing the fleets via lease in Year 1. Troon has assumed the replacement of the fleets no later than every 5 years. FF&E AND OGH will procure a new maintenance equipment and FF&E at Ocoee MAINTENANCE National in Year 1 with the anticipation of supplementing necessary items as needed. OGH will retain all ownership of the equipment and FF&E at the remainder of the term. GREEN FEE/ OGH shall have sole discretion to set greens fees and cart fees, CART ® provided that a resident rate shall be established and made available to all customers who present valid proof of residency within the City of Ocoee. Such resident rates shalt be submitted to the City annually for review and approval. CAPITAL In addition to the Base Fee and Revenue Share payments, OGH shall make an Initial Capital Investment up to $5.35M within the first 24- months of the contract term. Beyond this, beginning in Year 5 and continuing thereafter, OGH will deposit three and one half percent (3.5%) of Gross Revenues into an Annual Capital Reserve ("CIF"). The amounts in the CIF shall be strictly used for Capital Improvements to the Premises upon mutual agreement by both parties. Capital Improvements shall mean all projects, building systems and all improvements, repairs or replacements to the buildings and golf course (including pump stations and irrigation systems) of Ocoee National which have an expected useful life of a period of three (3) years or more and which cost in excess of Five Thousand Dollars ($5,000). OGH's responsibility for Capital Improvements is limited to the Initial Capital Investment and the balance in the CIF. Capital Reserve payments will be deposited into the CIF before May 31st of following Year. ADDITIONALWhile not required, OGH may elect to invest capital into Ocoee CAPITAL: National beyond the initial $5.35M for benefit of the facility. For every $1M additional capital invested, the lease agreement shall automatically extend by four (4) contract years. EXISTINGOGH is not mandated to buyout existing pro shop and food & beverage inventory, but may have the opportunity to do so if desired. OUTSTANDINGOGH shall be paid the full amount of all outstanding gift cards and CREDITS, DEPOSITS gift certificates in January 2026. Any outstanding rainchecks that & EVENTS: are redeemed in 2026 and beyond shall be reimbursed to OGh within 30 days. Any outstanding deposits for events in 2026 and beyond shall be paid to OGH in January 2026. OGH shall be provided a list of all contracted events for 2025 and beyond. TERMINATION: If the agreement is terminated for any reason, OGH shall be paid the unamortized (20-Year term) amount of the Initial Capital Investment of $5.35M. PHASEI/PCA: OGH shall contract for a Phase I and Property Condition Assessment for all Verticals, Pump Station, and Parking Lots prior to commencement date. 1.99-Year Ground Lease for New Mutti-Use Facilities We propose the development of a new, permanent structure on the Ocoee National Golf Club property. This facility would be privately funded and constructed by our team and would include the following: • A full -service restaurant (as requested by the City) • A modern Pro Shop (essential to golf operations) • Dedicated event and banquet space for weddings, tournaments, and functions • Facilities for the LPGA Hall of Fame and related exhibits • A high-performance golf training center • Potential office and administrative space • Potential hospitality component (e.g., boutique golf hotel or short -stay lodge) In order to finance and justify this capital -intensive development, we respectfully request a 99-year ground lease on the footprint of this development site. This lease would provide long-term security for the investment while ensuring the facility remains a lasting public benefit. Additional Points: • Should OGH not maintain an operational lease of the golf course, the City would lease back the Pro Shop (and optionally the restaurant) under commercially reasonable terms, since these are core components of the golf operation which the City retains ownership of. • We would also construct a separate golf equipment storage facility in support of ongoing operations. This structure would likewise be subject to a ground lease, with rent paid by the City to our operating entity through the term of the master lease or until termination. 2. Contingency Clause Regarding Dynasty Sports Complex We understand that part of the City's anticipated growth in tourism and golf activity is tied to the proposed Dynasty Sports Complex, which is expected to drive substantial foot traffic and regional economic activity. Given that our development model and revenue assumptions are closely tied to the projected success of this facility, we respectfully request the inclusion of a performance contingency clause in the agreement: • if the Dynasty Sports Complex is not completed and operational within 24 months from the execution of our agreement, we shall have the option to reduce our financial and/or operational commitments under the RFP by a defined and material amount. • This clause is necessary to ensure alignment between projected tourism growth and our proposed investment. Without the increased volume that the complex is expected to generate, the overall economics of the project change substantially. FI U }c� Forest Lake Golf Club 16"OI salt 1,1171 T/ Aly 10521 Garcons Ocoee Rd, Apopka, FL 32703 EE��D YEAR REVENUES Greens Fees Cart Fees Driving Range Pro Shop Sales Food (Food & Soft Drinks) Beverages (Alcohol) Other Food & Beverage Revenue Other Golf Revenues (club rental, handicap, locker, bag storage) Clinic f Sch_l Revenue Membership Fees Misc. Revenue TOTAL REVENUE increase COST OF SALES - COG Instruction COGS Pro Shop March COGS Food (food and soli drink,) COGS Beverage (alcohol) TOTAL COST OF SALES LABOR- Golf Operations Label General and Administrative Labor Golf Course Maintenance Labor Food and Beverage Labor Total Direct Labor Total Payroll Taxes Total Madicai/Health Benefits I - Woi-keys Co(np TOTALLABOR GROSSINCOME Labor as % of Revenue Labor Burden % 20 YEAR OPERATING PROFORMA 1 2 3 4 5 6 7 8 9 10 1 30 YEAR $ 1,180,762 $ 813160, $ 1,413,373 $ 1,558,243 $ 1,613,140 $ 1,731:413 $ 1,754,451 $ 1,798,580 $ L843,814 $ 1,871,472 1 15,SIB III5 $ 396,375 $ 309,0. $ 525,861 $ 579,762 $ 615,069 $ 636,750 $ 662,764 $ 669, 181 $ 686,011 $ 696,302 $ 5,767, 144 $ 292,563 $ 425,027 $ 691,179 $ 762,025 $ 808,432 $ 836,929 $ 857,978 $ 879,556 $ 901,677 $ 915,202 $ 7,370,568 $ 164,250 $ 136,835 $ 177,675 $ 189,357 $ 197,964 $ 202,942 $ 208,046 $ 213,279 $ 218,643 $ 221,922 $ 1,930,913 $ 206,000 $ 247,702 $ 273,620 $ 291,610 $ 304,864 $ 312,531 $ 320,391 $ 328,449 $ 336,709 $ 341,760 $ 2,963,636 $ 262,650 $ 315,820 $ 348,865 $ 371,803 $ 388,701 $ 398,477 $ 408,499 $ 418,772 $ 429,305 $ 435,744 $ 3,771:61 $ 20,000 $ 16,662 $ 26,565 $ 28,312 $ 29,598 $ 30,343 $ 31,106 $ 31,888 $ 32,690 $ 33,181 $ 280345 $ 49,250 $ 49,250 $ 50,481 $ 51,743 $ 52,778 $ 53,834 $ 54,910 $ 56,009 $ 56,849 $ 57,701 $ 532,806 $ 70,000 $ 108,500 $ 181,738 $ 186,281 $ 190,007 $ 193,807 $ 197,683 $ 201,636 $ 204,661 $ 207,731 $ 1,742,043 $ 211,250 $ 211,250 $ 216,531 $ 221,945 $ 226,383 $ 230,911 $ 235,529 $ 240,240 $ 243,843 $ 247,501 $ 2,285,384 $_____ ___. --------- __ $_____ _. __. ______ ___ $____ _.____ -------------- $___ ____ $__ --------------- $______._..._.. $ 2,853,100 $ 2,713,716 $ 3,905,887 $ 4,241,080 $ 4,466,936 $ 4,607,938 $ 4,721,363 $ 4,837,591 $ 4,954,203 $ 5,028,516 $ 42,330,329 -51y, 44% 9ly, 5% 31Y, 2% 2°b 2% 1% F-s-s-%71 $ 59,500 $ 92,225 $ 154,477 $ 158,339 $ 161,506 $ 164,736 $ 168,030 $ 171,391 $ 173,962 $ 176:171 $ 1,480737 5896 $ 111,690 $ 93,048 $ 120,819 $ 128,763 $ 134,615 $ 138,001 $ 141,472 $ 145,030 $ 148,677 $ 150,907 $ 1,313,021 35% $ 71,997 $ 71,997 $ 86,572 $ 95,630 $ 101,918 $ 106,550 $ 109,230 $ 111,977 $ 114,793 $ 117,680 $ 988,343 24% El $_____ 62 315 $ _____ 52,315 $______ 74,_930 $____ 32 770 $_____ 88 212 $ ___ 92-221 $___ 94 5, 41 $ __ 96 918 $__ 99 356 1__ 101855 $__ 855,432 $ 305,502 $ 319,585 $ 436,798 $ 465,502 $ 486,251 $ 501,508 $ 513,272 $ 525,316 $ 536,788 $ 547,013 $ 4,637,533 $ 2,547,598 $ 2,394,131 $ 3,469,089 $ 3,775,578 $ 3,980,686 $ 4,106,430 $ 4,208,091 $ 4,312,276 $ 4,417,415 $ 4,481,503 ( $ 37,692,796 .I----- 1 278,250 $ m,,., 286,598 $ .,u 295, 196 $ --"I 304,051 $ 1 313,173 $ Nu„ 322,568 $ -. - 332,245 $ yv., 342,213 $ I- 352,479 $ -"I 363,053 $ 3,189,826 $ 115,000 $ 118,450 $ 122,004 $ 125,664 $ 129,434 $ 133,317 $ 137,316 $ 141,435 $ 145,679 $ 150,049 $ 1,318,346 $ 478,140 $ 492,484 $ 507,258 $ 522,476 $ 538,150 $ 554,295 $ 570,924 $ 588,051 $ 605,693 $ 623,864 $ 5,481,335 $_ 142,896 $ 147185 $____151601 $ 156�i49 $____ If_ $ 165,_658 �__ 17__ $ 175�747 $__ 181.,019 $___186450 �_ 1i638169 $ 1,014,288 $ 1,044,717 $ 1,076,058 $ 1,108,340 $ 1,141,590 $ 1,175,838 $ 1,211,113 $ 1,247,446 $ 1,284,870 $ 1,323,416 $ 11,627,676 9.00% $ 91,286 $ 94,025 $ 96,845 $ 99,751 $ 102,743 $ 105,825 $ 109,000 $ 112,270 $ 115,638 $ 119,107 $ 1,046,491 $ 73,906 $ 76,123 $ 78,407 $ 80,759 $ 83,182 $ 85,678 $ 88,248 $ 90,895 $ 93,622 $ 96,431 $ 847,252 11,316 $ 18,283 � 18 831 $ 19,396 $ 19,978 $ 20,577 � _ 21 194 $ 21,830 $,__ __ 22`485 $ 23r160 19 r7 950 $ 1,190,796 $ 1,233,147 $ 1,270,142 $ 1,308,246 $ 1,347,493 $ 1,387,918 $ 1,429,555 $ 1,472,442 $ 1,516,615 $ 1,562,114 $ 13,718,468 42% 45% 33% 31% 30% 30% 30% 30% 31% 31% 32% 179, 18% 1891 189, 189' 18% 1891 18% 18% 18% OTHER OPERATIONAL EXPENSES' Increase» 3,CD f 3.ti lae' 3'" 3.01 Golf Operations Expense $ 41,750 $ 43,003 $ 43,003 $ 44,293 $ 45,621 $ 46,990 $ 48,400 $ 49,852 $ 51,347 $ 52,868 $ 467,145 General & Administrative Expense $ 327,423 $ 337,245 $ 337,245 $ 347,363 $ 357,783 $ 368,517 $ 379,572 $ 390,960 $ 402,688 $ 414,769 $ 3,663,566 Golf Course Maintenance Expense $ 317,140 $ 326,654 $ 376,654 $ 387,953 $ 399,592 $ 411,580 $ 423,927 $ 436,645 $ 449,744 $ 463,237 $ 3,993,125 Food and Beverage Expense $ 41,900 $ 43,157 $ 43,157 $ 44,452 $ 45,785 $ 47,159 $ 48,574 $ 50,031 $ 51,532 $ 53,078 $ 468,824 Sales and Marketing Expense $ 25,485 $ 26,250 $ 27,037 $ 27,848 $ 28,684 $ 29,544 $ 30,430 $ 31,343 $ 32,284 $ 33,252 $ 292,157 Golf Cart Lease -Tied to Lease Tab $ 74,100 $ 74,100 $ 74,100 $ 74,100 $ 74,100 $ 88,920 $ 88,920 $ 88,920 $ 88,920 $ 88,920 $ 815,100 Equipment Lb- - Tied to Lease Tab $ 306,882 $ 306,882 $ 306,882 $ 306,882 $ 306,882 $ 306,882 $ 153,441 $ 153,441 $ 153,441 $ 153,441 $ 2,455,057 Start-up Equipment -Tied to Lease Tab $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - I ranee-6&_L 18000 $ 18,540 19 $ 19�669 20,259 $ 29,867 21493 $ _22,138 22,802 $ 23486 �_ 206R3_50 TOTAL OTHER OPERATIONAL EXPENSES $ 1,152,679 $ 1,175,830 $ 1,227,174 $ 1,252,560 $ 1,278,707 $ 1,320,459 $ 1,194,757 $ 1,223,329 $ 1,252,758 $ 1,283,070 $ 12,361,323 TOTALEXPENSES $ 2,343,475 $ 2,408,977 $ 2,497,315 $ 2,560,805 $ 2,626,200 $ 2,708,377 $ 2,624,313 $ 2,695,771 $ 2,769,374 $ 2,845,184 $ 26,079,791 EBITDAR $ 204,123 $ (14'846) $ 971,774 $ 1214,773 $ 1,354,486 $ 1,398,053 $ 1,583,778 $ 1,616,504 $ 1,648,042 $ 1,636,319 $ 11,613,00S CUMULATIVE EBITDAR $ 204,123 $ 189, 277 $ 1,161,050 $ 2:375,823 $ 3,730,309 $ 5,128,362 $ 6,712,140 $ 8,328,644 $ 9,976,686 ####### OPERATING MARGIN 7% 1% 25% 29% 30% 30% 34% 33% 33% 33% THRESHOLD RENT PAYMENTS -Rent-Base Fee Payments Threshold Percentage $ - $ - $ - $ - $ - $ t00,000 $ t00,000 $ 100,000 $ t00,000 $ 100,000 § 500,00g -Renf-bolf Revenue Share Payments inittat $1,tYLYtt,i100 15_ti?+„ $ $ $ $ $ $ 10],]38 $ t14,t25 $ 120 ]4] $ t27,t89 $ 124,879 $ 590.679 GF, Cans, Memberships/Cards ecurrH $225YI.OU6 ;:; a.p% TOTAL RENT TO CITY $ - $ - $ - $ - $ - $ 207,738 $ 214,125 $ 220,747 $ 227,189 $ 224,879 $ 1,094,679 CUMULATIVE RENT $ - $ - $ - $ - $ - $ 207,738 $ 421,863 $ 642,610 $ 869,800 $ 1,094,679 7a OF EBITDA 0% o% 0% 03, 0% 15% 14% 14% 14% 14% 9% OTHER EXPENSE I DEBT SERVICE - Capital Projects/ Captlel Reaerve 3,ti% $ 1,850,000 $ 3,500,000 $ - $ - $ - $ 161,278 $ 165,248 $ 169,316 $ 173,397 $ 175,998 $ 6,195,236 CLmulative Capital Reserve $ 1,850,000 $ 5,350,000 $ 5,350,000 $ 5,350,000 $ 5,350,000 $ 5,511,278 $ 5,676,526 $ 5,845,641 $ 6,019,238 $ 6,195,236 EBITDA $ (1,645,877) $ (3,514,846) $ 971,774 $ 1,214,773 $ 1,354,486 $ 1,029,038 $ 1,204,405 $ 1,226,442 $ 1,247,455 $ 1,235,442 $ 4,323,090 CUMULATIVE EBITDA $ (1,645,8]7) $ (5,160,723) $ (4,188,950) $ (2,974,177) $ (1,619,691) $ (590,653) $ 613,751 $ 1,840,193 $ 3,087,648 $ 4,323,090 % OFFEtTDA •806% 23675% 100% '1003, 100% 74% 76", 76% 76'x, 76% 37% 1 2 3 4 5 6 7 8 9 I O 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 TOTAL VALUE TO TOWN (RENT +CAPITAL) $ 1,850,000 $ 3,500,000 $ - $ - $ - $ 369,016 $ 379,373 $ 390,063 $ 40,587 $ 400,877 $ 7,289,915 CUMULATIVE VALUE TO TOWN $ 1,850,000 $ 5,350,000 $ 5,350,000 $ 5,350,000 $ 5,350,000 $ 5,719,016 $ 6,098,389 $ 6,488,451 $ 6,8:9,038 $ 7,289,915 AWRIAL ,.t NT+C-P IT L ,Of TO, = GAR 9}6/ 51b/ 0% 510 0% 26, .17, 29% 24% %.,, 631111 Prepared by DATEDF ISSUANCE I Fluday, August 1, 2025 Page 342 of 356 Stokych, Olena From: Leah Lucier <Leah@stoneybrookwestgolfclub.com> Sent: Wednesday, October 15, 2025 4:53 PM To: Stokych, Olena Cc: Tolbert, Joyce; Rocky Hodge Subject: RFP #25-006 Lease and Operation of the Forest Lake Golf Club - Tamarack Golf Management LLC Attachments: RFP #25-006 - Tamarack Golf Management LLC Pre -Interview Response.pdf Good evening, Please find attached the full pre -interview response for Tamarack Golf Management, LLC. Thank you, Leah Leah Luder Event Coordinator Etft WIST Marketing Manager Gat CIO Call or Teat- 689-276-7602 Email: leah@stoneybrookwestgolfclub.com Web: stoneybrookwestgolfclub.com Address: 15501 Towne Commons Blvd, Winter Garden, FL Sign tip For OurNewsletter: CLICK HERE R Page 343 of 356 Forest Lake Golf Course - 5 Year Budget Forecast Forest Lake Golf Course - 5 year Budget Forecast - all cells to Be Completed y Proposer Company Name: Tamarack Golf Management, LLC Basis for compensation/rent 2026 2027 2028 2029 2030 Totals Projected Rounds of Golf ue to closure 3 months June - Sept for course renovation 65,000 67,500 70,000 70,000 Income Green Fees (current avg = 43) $ 2,450,000.00 $ 3,185,000.00 $ 3,307,500.00 $ 3,430,000.00 $ 3,430,000.00 $ 15,802,500.00 Cart Fees Merchandise Sales S 125,000.00 $ 175,000.00 $ 200,000.00 $ 300,000.00 $ 375,000.00 $ 1,175,000.00 Driving Range based on proposers plan to expand/increase revenue (Renovation late summer2026) $ 180,000.00 $ 350,000.00 $ 425,000.00 $ 600,000.00 $ 750,000.00 $ 2,305,000.00 Food / Beverage Sales S 600,000.00 $ 1,000,000.00 $ 1,125,000.00 $ 1,500,000.00 $ 2,000,000.00 $ 6,225,000.00 Outside Facility Rental Events $ Other $ Other $ Other $ Total Income $ 3,355,000.00 $ 4,710,000.00 $ 5,057,500.00 $ 5,830,000.00 $ 6,555,000.00 $ 25,507,500.00 Total Cost of Goods Sold $ 193,500.00 $ 327,400.00 $ 357,300.00 $ 473,200.00 $ 582,200.00 $ 1,933,600.00 GROSS PROFIT $ 3,161,500.00 $ 4,382,600.00 $ 4,700,200.00 $ 5,356,800.00 $ 5,972,800.00 $ 23,573,900.00 Expenses Golf Operations $ 625,000.00 $ 775,000.00 $ 825,000.00 $ 875,000.00 $ 920,000.00 $ 4,020,000.00 Total Golf Maintenance $ 857,500.00 $ 895,000.00 $ 945,000.00 $ 990,000.00 $ 1,040,000.00 $ 4,727,500.00 Total Food & Beverage $ 360,000.00 $ 600,000.00 $ 675,000.00 $ 900,000.00 $ 1,200,000.00 $ 3,735,000.00 Total General & Administration $ 475,000.00 $ 550,000.00 $ 625,000.00 $ 650,000.00 $ 675,000.00 $ 2,975,000.00 Total Expenses $ 2,317,500.00 $ 2,820,000.00 $ 3,070,000.00 $ 3,415,000.00 $ 3,835,000.00 $ 15,457,500.00 NET INCOME $ 844,000.00 $ 1,562,600.00 $ 1,630,200.00 $ 1,941,800.00 $ 2,137,800.00 $ 8,116,400.00 Company Name: Tamarack Golf Management, LLC Page 1 Page 344 of 356 Forest Lake Golf Course - 5 Year Budget Forecast Compensation and Rent/revenue share Structure Guaranteed Annual Base Rent (let year - an additional $5.5 rnillion paid on 3./1/2026. Plus guaranteed $180,000 or 40% [whichever is higher]) $ 5,680,000.00 $ 180,000.00 $ 180,000.00 $ 180,000.00 $ 180,000.00 $ 6,400,000.00 Additional or Alternative Rent (If Applicable) on Total Income (TI), Net -Income-LNI) or "Golf only revenue" income(GO) (Specify) (1st year - an additional $5.5 million paid on I/1/2026. Plus guaranteed $180,000 or 40% [whichever is higher]) $ 5,837,600.00 $ 625,040.00 652,080.00 $ 582,540.00 $ 641,340.00 $ 8,338,600.00 Revenue Share calculation per 30% of net profit & 30% of net profit & Hotel - $5 per Hotel - $5 per your proposal based on projected occupied room per occupied room per revenues night. (Based on 70% night. Based on 75% 40% of net profit 40% of net profit 40% of net profit occupancy) occupancy in 2030 Other Source(s) per proposal - be specific and clear [Starting in 2029: Hotel -,$5 per occupied room per night. Based on 70% occupancy in 2029 and 75% in 20301 $ 191,625.00 $ 209,875.00 $ 401,500.00 Percentage % of Rent Paid on Golf Only Revenue $ TOTAL $ RENT w/revenue share and or % based on $5,680,000 OR $180,000 OR $180,000 OR $371,625+ OR $389,875+ OR $6,801,500+ to proposers formula I 1$5,837,600+ 1$625,040+ 1$652,080+ 1$774,165+ 1$851,215+ 1$8,740,100+ Company Name: Tamarack Golf Management, LLC Page 2 Page 345 of 356 Forest Lake Golf Course - 5 Year Budget Forecast Capital Investment Plan and Proof of Financing Capital Investment $ Amount by $35,000,000- $64,000,000 - Year $ 2,500,000.00 $ 26,500,000.00 $50,000,000 $ 1,000,000.00 $79,000,000 Relocate/construct 2 new holes and finish Detailed Scope of Investment by construction on all Year (bullets) other tie-in holes & Reconstruct greens and start of hotel and Complete hotel & Complete all Golf, Hotel & Retail driving range retail construction retail development finishings of full venue Development Financial Capacity - provide a certified bank letter verifying proof of funds associated with all financial commitments outlined in proposal. For each year, indicate amount of capital to be invested. Attached letter Attached letter Total Annual Contribution to $35,000,000- $64,000,000 - Future Capital Fund $ 2,500,000.00 $ 26,500,000.00 $50,000,000 $ 1,000,000.00 $ - $79,000,000 TOTAL RENT and FUTURE $8,180,000 to $26,680,000 to $35,180,000 to $1,371,625+ to $389,875+ to $71,801,500 to CAPITAL CONTRIBUTION $8,337,600+ $27,125,040+ $50,652,080+ $1,774,165+ $851,215+ $88,740,110+ *Continue to Grow High Level Golf Course, Golf *Grow Large Charity and Market Golf Program and Community Venue *High School Home Events Tournaments, and Growth Business Plan by Year Course *Moonlight Pro Tour *Grow and Market Stay & Play Packages *Start Academy for *Florida Pro Tour Large Golf With Expansion of (bulleted) Groups, Ladies, Men, *International *Stay & Play Golf Tournaments (120- Reach (Across State Juniors, and Kids Promoting Golf Events Events and Groups 140 players) and International) *Hotel pen *Multiple Restaurant *Concerts & Live High Level Description of plans Locations Music Events *Tax Impacts *Grow Large Events for food and beverage operations *Market to Larger to Include Food *Continue to Grow by Year (bulleted) *New Menu *Golf Events for 120- Events (Weddings, Offerings and Market Events to *New Dinnerware 130 player with Buffet Charity, Community, *Continue to Market Include Food *Themed Dinners included Etc.) Larger Events Offerings Company Name: Tamarack Golf Management, LLC Page 3 Page 346 of 356 TAMARACK GOLF MANAGEMENT, LLC - COMPENSATION AND RENT STRUCTURE Overview This memorandum outlines the key financial terms proposed in partnership with the City of Ocoee. The agreement includes initial payments, ongoing financial obligations, and anticipated contributions once the hotel component is completed and operational. Initial Payments and Investment • A one-time payment of $5.5 million will be made to the City of Ocoee on January 1, 2026. • A security deposit of $45,000 will also be paid on January 1, 2026. 0 The total estimated investment for the project is between $50 million and $70 Ongoing Monthly Payments Beginning February 1, 2026, Tamarack Golf Management, LLC will remit monthly rent payments equal to the greater of: 0 40% of net profits, or 0 A guaranteed minimum payment of $15,000 per month. Post -Construction Terms (Hotel Operations) Upon completion and commencement of hotel operations: • The City of Ocoee will receive a $5 fee for each occupied hotel room, based on an estimated 150-room property with an average 70% occupancy rate. • Tamarack Golf Management, LLC's profit-sharing obligation will adjust from 40% to 30% of net profits, in addition to the per -room fee outlined above. Tax Contributions The development is projected to generate annual property tax revenue estimated to be between $250,000 and $300,000. Summary This agreement represents a substantial financial commitment to the City of Ocoee, ensuring both significant upfront payments and sustainable Long-term revenue streams through profit sharing, hotel occupancy fees, and property tax contributions. Page 347 of 356 TAMARACK GOLF MANAGEMENT, LLC - FIVE-YEAR CAPITAL IMPROVEMENT PLAN (CIP) Overview This Five -Year Capital Improvement Plan outlines the phased redevelopment of the existing golf course and clubhouse, followed by the design, construction, and operation of a new destination hotel. The plan ensures continuous use of the existing course white implementing phased improvements to enhance both community and tourism benefits. Year 1 (2026): Renovation and Modernization Objective: Renovate and expand the existing golf course and clubhouse white maintaining operations. Scope of Work: 0 First 6-8 months: Expand and modernize clubhouse with 60-70 additional seats, accommodating 120-140 players for tournaments and events. • Complete new greens installation and partial redesign of select holes. • By Late 2026, complete construction of new driving range with modern monitors and high -quality ball -tracking technology • Improvements completed within the first 12 months (clubhouse expansion within the first 6 months). • Finalize architectural and engineering plans for hotel and retail area. • Obtain necessary city permits and approvals for construction. Year 2 (2027): Marketing and Pre -Development Activities / Construction Commencement Objective: Launch brand development and marketing, as well as begin construction for the proposed hotel and retail sites. Scope of Work: • Develop and execute a "Stay & Play" marketing strategy targeting regional and national golf tourism. • Begin construction of hotel infrastructure, guest rooms, and amenities. • Begin construction of all retail sites • Secure brand partnerships and preliminary booking channels. Year 3-4 (2028-2029): Hotel/Retail Sites Completion and Operational Launch Objective: Complete construction and open the hotel for operations. Scope of Work: 0 End of 2028 — Early 2029: Complete all construction on on -site hotel and retail Locations • Conduct a soft opening, followed by full operation and marketing Launch. • Integrate hotel reservations with golf course packages and events. • Host inaugural "Stay & Play" tournaments to drive early occupancy. Page 348 of 356 Year 5 (2030): Optimization and Expansion Objective: Refine operations and enhance guest experience across golf, hotel, and retail facilities. Scope of Work: • Evaluate hotel and course performance metrics to guide reinvestment priorities. • Expand event programming, dining options, and membership offerings. • Implement technology and sustainability upgrades. Summary of Five -Year Investment Plan Year Major Milestones Estimated Capital Cost Year 1 Golf course and clubhouse renovation $8-10 million Year 2 Marketing strategy and pre -development $1-2 million Begin construction of hotel and retail sites $25-30 million Year 3-4 Complete and open hotel and retail sites $12-15 million Year 5on Operational optimization and reinvestment ���i Total Estimated Investment: $50-70 million Conclusion The proposed Five -Year Capital Improvement Plan provides a structured roadmap for phased growth of the development project. The plan balances immediate enhancements to existing facilities with long-term expansion into a hotel and tourism -based destination, ensuring steady operational continuity, increased city revenues, and enhanced community engagement. Page 349 of 356 TAMARACK GOLF MANAGEMENT, LLC - FOOD & BEVERAGE Overview As part of the clubhouse renovation in Year 1, the food and beverage (F&B) operations will be comprehensively upgraded to serve as a premier dining and event destination for golfers, hotel guests, and the surrounding community. Enhancements • Seating Expansion: The clubhouse will expand by approximately 60-70 seats, increasing total capacity to 120-140. Layout flexibility will accommodate daily dining, tournament groups, and Large events. • Service Upgrades: Investment in modern dinnerware, glassware, and cutlery will elevate the dining experience to complement the upscale design and expanded menu offerings. Operational Vision The upgraded F&B program will deliver a blend of casual and upscale hospitality, with an emphasis on flexibility, community engagement, and quality service. Hours of Operation 0 Extended Hours: The restaurant and bar will remain open later into the evenings, creating a social hub for post -round dining, community gatherings, and after-hours events. • On -Course Service: Continued beverage cart and snack service during play, with seasonal flexibility for peak golf months. Dining Experience and Therned Programming 0 Daily Service: Provide daily service for breakfast, Lunch, and dinner featuring Locally inspired, seasonal menus with fresh ingredients. 0 Therned Evenings: To attract both golfers and community residents, the restaurant will host recurring themed nights, such as: 0 Taco Tuesdays with Local craft beer pairings o Steakhouse Fridays featuring prime cuts and live music 0 Wine& Dine Nights featuring chef's specials and cu rated pairings Page 350 of 356 • Community and Special Events: The expanded venue will host larger gatherings and community events. These events will help establish the clubhouse as a Local social Landmark, not just a golf amenity. Bar and Beverage Program 0 Expanded Wine and Spirits Selection: The restaurant will showcase a premium wine List, Local craft beers, and a curated spirits program emphasizing bourbons, whiskeys, and signature cocktails. • Seasonal and Signature Cocktails: Rotating specialty drinks and seasonal craft beverages will complement therned nights and promote brand identity. Event and Catering Capabilities • In-house catering operations will support tournaments, private events, and hotel banquets. • Flexible menus will range from buffet service to plated fine dining for up to 140 guests. • Future integration with the on -site hotel will enable "Stay, Play, and Dine" packages for traveling golf groups and destination events. Financial and Strategic Impact • The expanded F&B operations are projected to increase gross revenue by35-45% within three years of completion. • The enhanced offerings will support higher per -guest spending, extended visitation hours, and improved event revenue. • Integration with hotel development (Years 3-5) will further expand revenue through cross -promotion and package sates. Summary The upgraded food and beverage operations will transform the clubhouse into a vibrant, full -service hospitality center that complements the golf course and future hotel. By offering extended hours, refined dining experiences, therned events, and community - oriented programming, the facility will serve as both a destination and a year-round economic driver for the community of Ocoee. Page 351 of 356 �A ARRIVAL OH PROPOSED BRIDGE HOTEL TOP TRACER/ RANGE O RETAIL/COMMERCIAL J� GOLF CLUBHOUSE OD BANKSITE- COMMERCIAL �K BREWERY/ENTERTAINMENT MAINTENANCE rl-'N' SURFACE PARKING FO HOLE 18/ 1 (NEW) O GRAB'N'GO - F&B O PRACTICE/SHORT GAME �N HOTELAMENITY Grace Design Studios THE PRESERVE AT FOREST LAKE I MASTER SITE PLAN Fm"`=,* - CREATING PLACES 1 \j :> THAT MATTER. PN 8125124 110.21.2025I TAMARACK GOLF MANAGEMENT LLC I BELLA TERRA BUILDING COMPANY , ,. BUILDING CIOMPANY HENSEL PHELPS mnTr as NO- Plea. Butd. M—g, M .TLLC, Page 352 of 356 Desace � CREATING PLACES r„�,;y. iw,yr; CREATING THAT MATTER. xUILDINGCOMPANY HENSELPHELPS - Plea. gild. ll—g, Page 353 of 356 J P 50 1PP 15P 250 . 1r THE PRESERVE AT FOREST LAKE I CURRENT AERIAL �r PN 8125124 1 10.21.20251 TAMARACK GOLF MANAGEMENT LLC I BELLA TERRA BUILDING COMPANY mn�rnxaasonx.F Grace ( - t Design Studios j THE PRESERVE AT FOREST LAKE I BREWERY 1 �C ANY CREA NG PLACES ,% THAT MATTER. PN 8125124 j 10.21.2025 j TAMARACK GOLF MANAGEMENT LLC j BELLA TERRA BUILDING COMPANY ..„. BUILDINGDMVANHENSEL PHELPS mn>\saxaos aozm Plea. gild. M—g, .A .,..... 111, Page 354 of 356 i�cr r GraceLandDesign. G 6©MPANY HENSEL PHELPS THE PRESERVE AT FOREST LAKE I DRIVING RANGE * Design studios .y-;rc`+n_, CREATING PLACES THAT MATTER. PN 8125124 70.21.2025 TAMARACK GOLF MANAGEMENT LLC BELLA TERRA BUILDING COMPANY `i P,UILDa1 mnTr c-canx.m Plen. Build. Manage. Page 355 of 356 �w i cr xUI�DINCCOMUANY HENSELPHELPS GraceLan THE PRESERVE AT FOREST LAKE I HOTEL/ DINING * w�-;i,k Design studios "`* p.�,�,� CREATING PLACES TAT MA TER. PN 8125124 70.21.2025 TAMARACK GOLF MANAGEMENT LLC BELLA TERRA BUILDING COMPANY `i mnTr c-canx.F Plen. Build. Manage. M .TLLC Page 356 of 356