(NEW) Does the Town of Hinton own the Golf Course?

Yes.  In 2020, the Town of Hinton acquired the golf course, including all the buildings and equipment to operate the course.  The Town of Hinton has financial liability associated with this asset acquisition.

As of January 11, 2024, there are three (3) outstanding liabilities:

1. Golf Course Operating Loan to the Hinton Golf Society

  • Original Loan Amount: $250,000 in 2019/2020
  • Payments: $50,000 annually
  • 2024: $51,892.32 final payment owing

2. Debenture (Loan) for the Clubhouse

  • Loan assumed for $1,350,000
  • Balance owing Dec. 6, 2023: $993,927.00
  • Payments: $13,015monthly (monthly payments paid to ATB by the Town of Hinton) (Annual sum $156,180 for 2024)
  • The expiry of the loan is 2032

3. The Town became Guarantor for the New Golf Cart Lease for the Hinton Golf Society - September 2022

  • Full contract value $608,999.04
  • The remaining term (May 1, 2024 to August 2028) is $468,460.

Show All Answers

1. What is an Expression of Interest (EOI) process and how does it work?
2. The Town of Hinton Golf Course Expression of Interest (EOI)
3. Appraisal Process
4. Tax Concessions
5. Next Steps in the Municipal Land Development Process
6. Focused Working Group
7. Town of Hinton Independent Golf Course Professional
8. (NEW) Does the Town of Hinton own the Golf Course?
9. (NEW) What is protecting the Town of Hinton’s Interest with the proposed development?