By John Collins, email@example.com
Updated: 04/04/2012 06:33:53 AM EDT
DRACUT -- The Meadow Creek Golf Club is scheduled to be sold at public auction on May 1.
According to the public-auction notice that is posted on the website of auctioneer JJManning Auctioneers of Yarmouthport, the mortgage holder, Bank of New England, is inviting prospective bidders to gather on site at the Dracut golf club on May 1 at 11 a.m.
The sale terms of the auction require that bidders bring a check for $100,000 to the auction site as a deposit toward the final sale price, stated the notice (www.jjmanning.com/property.cfm?id=567).
Meadow Creek owner/operator Jeffrey Brem, meanwhile, in what appears to be a continuing effort to retain ownership of the club, sent an email blast to the club's members over the weekend inviting them to begin golfing, declaring today to be the club's official season-opening date.
Also in the email, Brem informed members that part of the par-4 first hole will be sacrificed to make it a par 3, to make room for a new off-street parking area. The parking accommodation was made necessary due to Brem's ongoing legal dispute with Realty Financial Partners, Inc. (RFP), the lease-holder on the golf course's clubhouse and main parking lot.
"Many of you have been following the tales of our battles with the owner of the clubhouse and their open and obvious intent to prohibit golfing at Meadow Creek this year," wrote Brem. "But we are determined to not let them win and we are persevering... (and) with your cooperation and patience we will be able to accommodate the fabulous golfing experience here at Meadow Creek that you have come to expect."
RFP blocked access to Meadow Creek's clubhouse and parking lot in January, using concrete barriers and padlocked gates after Brem fell behind on his payments. Last week, Brem's legal action seeking a court injunction to have the barriers removed was denied by a judge who wrote that "none of (his) arguments holds water."
Previously, Dracut selectmen also declined Brem's request to intervene on his behalf in the clubhouse and parking-lot dispute with RFP, with Chairman George Malliaros declaring it to be a private landlord-tenant dispute.
"Your cooperation during these temporary and trying times will be enormously appreciated," wrote Brem at the conclusion of the email to members. "We thank you in advance for working with us as we work out the new details. And please sign our petition in the Golf Shop to help us with the authorities to get back to normal."
A copy of Brem's email to members was forwarded to The Sun by a "concerned Meadow Creek resident" who asked their name be withheld from publication.
"(Brem) is ruining the first hole to create new parking, and possibly causing members to park on our residential streets where many of our children ride their bikes and play out here every day," said the concerned resident. "I do not want to see the safety and beauty of our neighborhood put at further risk than we already are."
In a phone call to The Sun yesterday, Brem said under the first-hole reconfiguration-parking setup, there will be no need for the club's golfers or visitors to park on neighboring streets.
"I am going to provide enough on-site, off-street parking for everyone -- not just the members," said Brem.
He declined to respond to a question about whether he plans to become a bidder for the property at the auction on May 1.
"It may be scheduled, but auctions get scheduled all the time," said Brem. "Check the statistics: How many of them actually happen?"
According to Justin Manning, the president of JJManning Auctioneers, his company has been contracted to conduct the sales at public auction of four golf courses in the past 18 months: The Georgetown Club, in Georgetown; Sterling National in Sterling; Pleasant Valley Country Club in Sutton; and Lakeville Country Club in Lakeville. In all four instances, the scheduled auctions took place, with three of the courses being auctioned off to third parties. In only one instance, the Lakeville club's auction, did the foreclosed-upon owner repurchase the property, Manning reported.
There a number of things a borrower could do to stall the auction from happening, including: paying off the loan, refinancing, or declaring bankruptcy.
"Understand, any foreclosure could always get delayed by something like a bankruptcy filing," said Manning, whose firm has been conducting auctions since 1976. "And if that happens, it's likely to be in the 24- to 48-hour range prior to (the scheduled auction)."