History/Background Ledgeview Golf Course
Setting the Record Straight
Posted April 22, 2016
The City of Abbotsford has had some question about the history of Ledgeview Golf Course over the past several days. Below are some facts about Ledgeview to help in ensuring the facts are available for everyone:
- Ledgeview has operated as a golf course since 1963.
- Ledgeview Properties Ltd. was acquired by the District of Matsqui in May 1980.
- The total commitment for the purchase of Ledgeview was approximately $1.1 million* (see breakdown below).
- When the District of Matsqui purchased Ledgeview, a component of the agreement was that the property be maintained as a golf course for public use for the term of ownership.
- The Ledgeview Golf Course is currently owned by the City of Abbotsford.
- For the past 36 years, the Ledgeview Golf Society has managed and operated the Ledgeview Golf & Country Club facilities on behalf of the City.
- In 2014 the City renewed its lease agreement with the Ledgeview Golf Society to operate the facility with the City receiving revenues in the form of rent and profit sharing.
- The lease agreement provides the City with competent stewardship of a much needed and well regarded municipal recreational facility, as well as a source of revenue.
- On February 15, 2016 the City of Abbotsford signed a $1.3 million Community Benefits Agreement with Kinder Morgan Canada to assist with an upgrade to the Ledgeview clubhouse.
- The Community Benefits Agreement is intended to mitigate the impacts from the proposed Trans Mountain Pipeline expansion project on the operations of Ledgeview if the proposed project is approved by the National Energy Board and the Federal Government of Canada.
- On Tuesday April 19, 2016 at 12:05am, Abbotsford Fire Rescue responded to a call of a fire at the clubhouse at the Ledgeview Golf Course.
- When fire crews arrived, the structure was fully involved and it took crews several hours to bring the blaze completely under control.
- The building suffered extensive fire and water damage and Fire and Police officials are currently investigating.
- Insurance investigators and adjusters will need to assess the building and the police and fire reports before determining next steps.
- Ledgeview golf course and clubhouse occupy approximately 115 acres north of McKee Road in Abbotsford and the course has been rated in the top 20 full-length Golf Courses in BC by the Province of BC.
- Ledgeview hosts over 50 charity tournaments and banquet functions each year and over 17,000 rounds of golf for the general public each season.
*Cost to District of Matsqui for Ledgeview May 1980
Shares and Debentures (paid from Property Reserve)
|Assumed current liabilities (May 1980)||$130,000|
|Present value (May 1980)||$340,000
|Total purchase price||$885,000
|Commitment to match capital improvement
funds raised by Ledgeview Society
|Total commitment by District of Matsqui (May 1980)||$1,135,000|
The District had 2 independent property appraisals conducted in 1980 that valued the property at $1.5M and $1.35M prior to making an offer to purchase Ledgeview