Club Dues Reduced at Ginn’s Tesoro Club

Port St. Lucie club developed by Bobby Ginn succumbs to member pressure.

Palm Coast, Florida – December 3, 2008 – Members of the Tesoro Club, a Ginn developed amenity rich golfing community in Port St. Lucie, FL, recently received a notice that club dues had been reduced "to help ease the economic crunch that many are feeling and also align dues with current services and amenities." The reduction was made retroactive to October.
 
Annual golf dues were reduced 25% from $14,000 to $10,500. The monthly billing changes from $1,167 to $875. Annual social membership dues were reduced 14% from $7,000 to $$6,000. Monthly, the reduction was from $583 to $500. The amounts do not include sales tax.
 
Tesoro is one of four Ginn properties in default of a Credit Suisse credit facility. Significant cutbacks have been made in service levels at the club. (see story) The Tom Watson designed golf course has been mothballed, leaving only the Arnold Palmer course open. A promised oceanfront Beach Club was never built. Tesoro hosted the Ginn sur Mer Classic in 2007, the same PGA Fall Tour event recently hosted at the Tom Watson designed course at The Conservatory in Palm Coast, FL.
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