Posted by Joe Bower
The following article written by Dan Hixman – Reno Gazette-Journal – May 30, 2012
D’Andrea Golf Club could have a new owner by the end of June.
Nick Oddo, a retired real estate developer and D’Andrea homeowner, started D’Andrea Golf Partners LLC after the course was closed in March.
He said Wednesday there are two options for a possible sale. D’Andrea Golf Partners LLC is in escrow, but Oddo (pronounced OWE-doe) said another company has shown interest in the property.
“We’re talking seriously to a potential buyer,” Oddo said. “And we’re also working on our own program to acquire it ourselves. We’re not sure which way it will go.”
D’Andrea closed in March after D’Andrea homeowners voted down a $28 monthly increase in homeowner’s fees to cover losses. The course, which is still owned by D’Andrea Golf Holdings LLC, had consistently lost about $300,000 annually over the last five years. The City of Sparks shut off water after D’Andrea failed to pay a $150,000 bill.
D’Andrea Golf Holdings LLC also owes $39,809.23 in taxes and penalties on six parcels, according to the Washoe County Treasurer’s Office 2011-12 Delinquent Tax List published May 22.
Oddo said the potential buyer has until the end of June to finalize a deal. He would not identify the other buyer, but said it is not a local company but that the company is already in the golf management business.
Oddo said he expects to have things finalized next week.
“I really wish I could tell you more,” Oddo said. “We need to see how serious they are.”
If a sale is made, Oddo said it would take six weeks of prep time to get the course in shape, and a reopening would likely occur in late July or early August.
Oddo’s group convinced the City of Sparks to supply water in good faith, and Mark Stutsman, D’Andrea’s superintendent when it closed, has continued to keep the course in good enough shape to minimize the prep time should a sale be completed.
“It’s still green,” Oddo said. “It looks better than a lot of other (courses) in town.”
Will Gustafson, a partner in D’Andrea Golf Holdings, said in an email he is optimistic a deal can be reached.
“Nick is in escrow and … is maintaining the course in the interim,” he said. “We live in hope.”