A purchaser has emerged for the ailing Chamisa Hills Golf Course and Country Club in Rio Rancho but the buyer says the deal hinges on water rates.
Chamisa owner Harry Apodaca has signed a purchase agreement with Rio Rancho businessman Bob Gallagher and Jhett Browne, owner of the Farmers Market business in Albuquerque, Gallagher told the Journal on Monday.
“We’re very enthusiastic,” Gallagher said.
He declined to divulge the purchase price but said financing has been approved.
Gallagher said the deal is contingent on negotiating better terms for the treated effluent water the golf club buys under a contract with the city that expires this summer.
New rates the city council approved last year would take the price from 47 cents per 1,000 gallons to $3.28 per 1,000 gallons on July 1.
Gallagher said he has an alternative rate proposal and planned to email it to City Manager Keith Riesberg for staff and city councilors to consider before the regular council meeting on Wednesday. Gallagher would not reveal details of the proposal.
The meeting agenda already contains a resolution sponsored by Councilor Tim Crum to consider the recycled water rate from any potential buyer.
It also says the city will consider proposals for a public-private partnership that would allow Chamisa Hills to be improved and remain a golf course, or consider proposals for redevelopment of the property.