Some golfers upset over possible golf course land sale

The southeast Las Vegas property is the site of Royal Links Golf Course, which golf course developer Billy Walters expects will be ranked among the best courses in the country. Its holes are modeled after famous holes at British Open golf courses.

"It sounds like a pretty good deal for Mr. Walters," said Stuart Reid, president of the Southern Nevada Golf Association.

In December, Walters said he spent $35 million on Royal Links, which was built on land he leased from the city in 1997 for 50 years. The lease was contingent on the course offering half its tee times at reduced rates to city residents.

On Tuesday, Walters said that he was misunderstood and that he spent about $17 million on the course, to open officially next month.

Regardless of its worth, the course would become city property in 50 years when Walters' lease expired, and the government would collect annual rent payments of at least $100,000 most years until then.

That is, unless the council votes to sell the property.

Councilman Larry Brown said $894,000 was enough to buy roughly four soccer fields or two baseball fields. In 50 years, on the other hand, the city would own a premiere golf course that Walters said could be worth as much as $50 million.

"We need money for parks now, not 50 years from now," Councilman Michael McDonald said.

By buying the land and making the course private, Walters could make the facility more exclusive.

"Not having a lease, we'll be able to invest additional capital (and provide amenities) that normally you don't provide at a typical public golf course, and we'll be able to charge the nonresident who comes to Las Vegas a lot more money," he said. "But in order to be able to do that, we need exclusivity."

Walters' lease requires 50 percent of tee times during the year be reserved for local players. The agreement limits greens fees for Southern Nevada residents to $53 a round, where Walters plans to get up to $200 a round from tourists.

Walters would not be bound by the restrictions if the City Council approved the sale.

Walters said the value of the golf course land value was lessened by its nearness to the city's water treatment facility. According to the deed, the land could be used only for a golf course or open space, he said, and not developed with homes or commercial businesses.

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