$25M Loan Approved For New Five Ponds Golf Clubhouse

WARMINSTER TOWNSHIP, PA — The Five Ponds Golf Course is getting a $25 million loan to construct a new clubhouse.

The Warminster Township Board of Supervisors approved the loan on Aug. 20 to fund the construction of a new clubhouse and other improvements at the township's golf course.

Subscribe

"The improvements will maintain the status of the Five Ponds Golf Course as one of the premier publicly owned golf courses in America," Supervisors Chairman Kenneth M. Hayes said.

Hayes said the costs of the project will be paid from golf revenues and won't impact taxpayers.

The 20-year loan for the project will be provided by the Delaware Valley Regional Finance Authority, Township Manager Tom Scott said.

"We analyzed our financing options, and we concluded that the DelVal loan would save the township more than $1.3 million of interest and fees," he said.

DelVal Administrator Jeffrey Calhoun said the township has continued to be a good financial steward.

"Expenditures are consistently less than revenues," Calhoun said. "As a result, the township has built a good rainy-day fund. This gives DelVal confidence in the future financial stability of the township."

In July, Supervisors and Spirit Golf – Sports Facilities Companies announced that the public bidding process was underway for construction of the clubhouse.

The new clubhouse at the Five Ponds Golf Club at 1225 W Street Road will include a second-floor wedding and events space as well as the traditional golf course bar and restaurant area with patio on the first floor.