City buys $9.6M golf course - | KTBC Fox 7 | News, Weather, Sports

City buys $9.6M golf course

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In a 6-1 vote the Austin City Council approved the purchase of a golf course in Southwest Austin. For $9.6 million the city will buy Grey Rock Golf and Tennis club located near Circle C.

Council woman Laura Morrison voted no. She explained how she didn't think the purchase was a wise investment of the money.

According to a memo the city was approached by the owner of the Grey Rock Golf and Tennis Club about purchasing the property.

The property has an 18-hole golf course, eight tennis courts, three maintenance facilities and a clubhouse. The owner told city staffers that he would move forward with development if the city doesn't purchase the property. The 292 acres sits over the aquifer.

If developed the space had the potential for 522,000 new square feet for 90 different estate lots according to a city staffer during a presentation before council.

The construction of a new facility is estimated to be $18 million. The city says certificates of obligation would be issued and the debt would be paid with a combination of golf revenue and new debt not impacting the current tax rate.

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