Palm Coast’s Golf Courses: Assessed Values Down 71% Since 2008

Assessed values of Palm Coast’s ten golf courses are down again this year, but there is good news; unlike two previous years, property taxes on all courses have been paid.

Palm Coast, FL – May 12, 2011 – Palm Coast, Flagler County preliminary assessed real property values are posted. The housing market isn’t the only sector under stress from declining values. The area’s ten golf courses are each suffering from declining valuations. But on the bright side, declining assessed value can mean lower taxes. And unlike the last two years at this time, the taxes for Crescent Resources four golf courses (Pines, Matanzas, Cypress, and Grand Haven) are not delinquent. Crescent emerged from bankruptcy last year.
It’s a tough time to be in the golf course business. The cost of maintaining a golf facility is relatively fixed. The courses must be maintained regardless of how many rounds are played. But revenue is variable, driven by discretionary income; in short supply lately. Changing demographics are also thought to be a factor. Aging golfers are not being replaced with young ones in sufficient numbers. Most industry sources feel that the industry is about 15% overbuilt.
It’s a buyer’s market.
The four local courses (plus three others in Florida and Georgia) owned by Crescent Resources are currently under a sales contract. I’m told that the deal is solid and will likely close. The decline in assessed value of Palm Coast’s local courses mirrors the decline of the industry. The golf course owners are not the only ones to suffer. Property taxes paid by the local courses are also down. In 2008, ten local courses chipped in over $1.8 million to local taxing districts. That number fell to slightly more than $652 thousand in 2010. The 2011 millage rates have not been determined, but the preliminary 2011 roll of assessed values for local courses totals only $25 million, down from $34 million last year and from $86.1 million in 2008.
Assessed Value of All Palm Coast Area Golf Courses

Palm Coast Golf Courses - Assessed Values -

Property Taxes Paid by All Palm Coast Area Golf Courses

Palm Coast Golf Courses Property Taxes Paid -


Palm Coast Area Golf Courses: Assessed Values ($M)





2011 (Prelim)

 Grand Haven





 Pine Lakes










 Matanzas (closed)





 Grand Reserve





 Palm Harbor (Muni)





 Hammock Dunes Links





 Hammock Dunes Creek





 Hammock Beach Ocean





 Hammock Beach Conservatory











Assessed values include clubhouses. Grand Haven has a 9,517 SF clubhouse. Cypress has 5,736 SF, Pine Lakes has 18,368 SF, Hammock Dunes Links has 35,566 SF, Hammock Dunes Creek has 4,383 SF, Hammock  Beach Ocean has 38,562 SF (includes lodge rooms), Hammock Beach Conservatory has 38,834 SF

3 replies
  1. George Edward Chuddy
    George Edward Chuddy says:

    Matanzas Woods Golf Course Homeowners Association

    For those interested in reading about Palm Coasts’ very rich Heritage and History:
    I.L.S. # 29870
    Page 8 of 10
    PART V

    Every record owner of a fee simple undivided interest in any lot in Sections 34 and 37, Palm Coast, shall automatically be a member of a Homeowner’s Association, a non-profit corporation organized: (a) for the purpose of maintaining and preserving the golf course and appurtenant facilitities by means of general and special assessments levied by the Association against land within the Subdivision, (b) to adopt and enforce rules and regulations for the use of said
    golf course and appurtenant facilities and (c) to establish a schedule of use fees and admission charges for such facilities. These rights of the Homeowner’s Association with respect to the golf course shall become effective only if a duly recorded assignment or conveyance of the golf course and appurtenant facilities is made to the Homeowner’s Association by the Company or its successor.

    For those wanting to read the full ‘Florida Public Offering Statement’ filed by ITT Community Development Corporation ask for I.L.S. # 29870 from or go to the hud site.
    Also from Daniel Johnson:
    Certain Lots in Palm Coast Sections 1-4, 6-35, 39, 57-60, 63-65 (OILSR# C-1092-09) located in Flagler County, FL and the developer listed as ITT Community Development Corporation was Voluntarily Suspended on June 25, 1996. The subdivision was Administratively Suspended due to the failure of developer to submit the required Annual Renewal on the anniversary of the effective date of the initial registration. There have been no other types of submissions for this subdivision to the Interstate Land Sales Office since then. Assuming that this is the correct subdivision you have referenced, any information pertaining to this subdivision may have been selected for disposition since the registration has been suspended for more than seven years. ( However, there is another subdivision listed with the Interstate Land Sales Office under Certain Lots of Palm Coast (ILS# 30564) with the developer listed as National Recreational Properties of Palm Coast, Inc.) If the new developer purchased the remaining lots in the subdivision, that may be the reason for all the changes in the subdivision and there may be a new property owners association involved if one had ever been established by the original developer. I have attached some property reports for these two filings. I hope this information is helpful.

    Daniel Johnson

    Office of Interstate Land Sales

    ( Matanzas Woods and Cypress Knoll are Communities of Palm Coast and are Sections 34 and Sections 37 )

  2. George Edward Chuddy
    George Edward Chuddy says:

    Golf and Tennis History in Palm Coast

    For those interested in the evolution of Tennis and Golf in Palm Coast we share this:
    ( Since Golf is struggling would anyone be interested in putting together a ‘Heritage and Historical ‘ Packet about Golf and / or Tennis in Palm Coast – hopefully this will give a sense of place and a sense of History for the newcomers and hopefully attract more prospective buyers here as Palm Coasts’ ‘The Four Sisters’ Golf Courses once did successfully ).

    For the newer Palm Coasters – You will note they reference ‘Palm Coast Golf Course’ – that is what we were shown, paid for, and what it was first called and the very first Golf Course in Palm Coast ; after the Pine Lakes Golf Course opened the ‘Palm Coast Golf Course’ name was changed to ‘Palm Harbor Golf Course’. It was known as the ‘Magnificent Monster’. At first we could only play the front 9 since they were the first to be completed – we always enjoyed the large Bar-B-Que area with a View and Vista of the Golf Course Waterway and also the very large Pic-Nic Area there also with a View and Vista of the Golf Course Waterway – both adjacent to the Concrete, Block and Stucco Golf Course Clubhouse – ( it was quaint and charming and later upgraded by a local Contractor – Herb Bratloff ) we really enjoyed all these large Golf Course Features/Areas alot and had much social and fund raising Events there –


    Four additional tennis courts have been completed at the Palm Coast Tennis Club adjacent to the Yacht Club, giving area tennis buffs six courts with which to pursue their favorite sport.
    The grand opening for the new complex took place on May 15. The featured event was an exhibition match between tennis pros Tom and Tim Gullikson.
    Washington Tennis Service, a tennis management firm oversees the new tennis complex and provides a tennis professional. The tennis pro works withthe Palm Coast Tennis Association and has developed a complete tennis program which includes video tape coaching sessions, intraclub competition, tennis clinics and other specil events The Washington Tennis Service specializes in all aspects of tennis and tennis club management and stocks the new tennis shop with the latest in tennis equipment, clothes and other accessories. The tennis shop, which also serves as the tennis pro’s office is a gazebo located between two of the tennis courts.
    The tennis courts have been specially designed, using a plexicushion surface over an asphalt layer. The plexcushion provides better bounce and playability. It is also more durable than standard tennis surfaces and less fatiguing for players.
    All six tennis courts have been lighted for night play, and twenty-four metered lights have been installed . Four quarters will turn on the lights for an hour, providing four sets of lights for each court.
    Various types of memberships are available and fees for these memberships are available upon request. Members are entitled to participate in all the club’s activities such as private or group lessons, tournament and ladder play competition, special tennis strategy sessions, and special functions. A reservation system to provide court time has also been established. Non-members and guests of members may use the courts on an hourly fee basis.
    The Gullikson twins, Tom and Tim, or Tim and Tom, and Leon Aragon, local Palm Coast Pro engage in post match conversation at the new Palm Coast tennis complex. The Gulliksons are two of the top young tennis pros in the country, and recently appeared at Palm Coast.

    Beau Baugh,

    a 25 year-old professional golfer, won the third annual Palm Coast Tournament of Champions golf tournament. February 25 and 26, with a 36 hole score of 136. Baugh currently works as an assistant pro at the University of South Florida Country Club in Tampa.
    Baugh fired a pair of 68’s on the par 72, 6,555 yard course, finishing four strokes ahead of Jack Rice of Fort Lauderdale and Mark McCumber of Jacksonville.
    Played under sunny skies, the Palm Coast tournament was the final event on the Florida PGA Winter Tour.

    1974 was the first year of professional golf competition in Palm Coast.

    At that time, the event was called the Palm Coast Open, but was changed the following year to the Tournament of Champions. The Tournament of Champions, previously played in 1975 and 1976, has grown each year with an increasing number of golfers and spectators coming to Palm Coast to enjoy the event.
    More than 140 professionals, including seven from Canada, arrived for the weekend tournament. A large crowd of residents and visitors followed the golfers over the course during the two days of play. Seventy-two members of the Palm Coast Men’s and Women’s Golf Association assisted in the tournament as scorekeepers, marshalls, and starters.
    Baugh received a winner’s check of $2,000 with $1,000 of that being donated by ITT Community Development Corporation. Alan Smolen, president of ITT Community Development Corporation presented an elated Baugh with a ceremonial $ 2,000 check. After the tournament Baugh said it was his best two days score "in at least five years’.
    Professional and amateur golfers teamed up for the pro-Am competition on Friday before the Tournament of Champions, with the winners taking a share of the more than $ 2,500 in prize money on that day.

    CAPTION: What’s the Score" This was the scene during the Tournament of Champions held at the Palm Coast Golf Club.

    (Below is the Palm Coast Beach Club on A1A )

    "Get Lost" at the Sheraton Palm Coast resort Inn If you are traveling to Florida to get lost for awhile there are two great ways to Get Lost at the Sheraton Palm Coast Resort Inn located on the Atlantic Ocean beach about 28 miles north of Daytona Beach on the scenic oceanside highway, State Road A1A. The hotel is offering two package vacation plans for those seeking a way to get lost. One way to get lost is called the Honeymooners’ Paradise the other is the Golfers Weekend. Either adds up to four days and three nights.
    The Sheraton Palm Coast Resort Inn is built in the Old Spanish Missionstyle, with coquina rocks and nestled in acres of green , rolling lawn sprinkled with subtropical trees and shrubs with access to five miles of beautiful beach. Each airconditioned guest room has double beds and color television. Honeymooners are guaranteed a room with an ocean view.
    The ocean is just a few steps away. Also close by is the Intracoastal Waterway, which offers good fishing, boating, and waterskiing. On the Inn grounds, there is a large free form swimming pool surrounded by sundecks. Close by are two tennis courts which will soon be lighted for night play.

    Just a short ride by boat is an 18 hole championship golf course, the Palm Coast Golf Club. ( using the ‘Boat to Golf’ Dock at the Golf Course)

    The Golfers’ package includes unlimited play at the Palm Coast Golf Club, an electric cart, a gift package of golf balls and a complimentary bucket of practice range balls daily at the Pro Shop. At the Inn, the cuisine is superb in the Coquina Room or Cafe del Mar. The newly completed Beachcomber Bar, located beside the pool, offers the finest in mixed drinks and sandwiches. Dancing and nightly entertainment are popular in the newly decorated Jon-kanoo Lounge. For a slightly different atmosphere the visitor can also eat at the

    Palm Coast Yacht Club across the Intracoastal Waterway.

    Sightseeing is a must at nearby historic St. Augustine and Marineland, and Daytona Beach, is just a shosrt drive for shoppping or touring. For the young at heart, Walt Disney World is approximately 98 miles away.*
    The Palm Coaster, Summer 1978, pp. 10-11.

  3. George Edward Chuddy
    George Edward Chuddy says:

    More Golf / Tennis Heritage and History

    For those interested in more ephemera about Palm Coasts’ Golf and Tennis Heritage and History:

    (Note: We have our originals of the Palm Coast Newsletters below should anyone be putting together an informative / promo *packet* )

    From the Year:


    Dear Palm Coaster:
    If a history book were published about Palm Coast and its people, an exciting and fulfilling chapter would be written about the year 1978.
    Firm roots were planted by ITT Community Development Corporation ( ICDC) as the headquarters building opened, fulfilling a commitment to consolildate offices from New York, Miami and Palm Coast. The facility and personnel presence in Palm Coast highlight the p0int that ICDC continued taking direct involvement in Palm Coast in developing a planned and controlled community where families can live, work and play.
    Now in the final stages is another key development. The Palm Coast Shopping Center with Publix and Eckerds will offer one stop shppping facilities in fashionable and attractive surroundings.
    We are happy that golf sensation Nancy Lopez has chosen Palm Coast as here official place of residence, and is the touring pro for Palm Coast Golf Club. As we approach the 3,000 population mark in this water-oriented community, we have become the "home-Port" for Nancy’s Navy.
    Arnie’s Army likewise had an enthusiastic showing here as Arnold Palmer played our golf course after signing a contract to design Palm Coast’s second golf course which will be completed by December 32, 1980.
    A further expansion was made in our tennis activities with the opening of six lighted cushionized tennis courts.
    The Palm Coast Community YMCA has soared with interest and participation. Memberships and individual donations have assisted the programs and activities conducted for youngsters and adults living throughout the county.
    Houses of worship likewise have made significant and lasting strides in the community. Services are being held in the St. Mark by the Sea Lutheran Chuirch and the First Baptist Church of Palm Coast. Clergy and parishioners of Mother Seton Catholic Church broke ground in September for a church on the newly opened Belle Terre Parkway. The new church will be completed in April or early May.
    In providing support services to the growing community, expansions are being made on the wastewater treatment plant which will be completed in February and the water treatment plant to be completed this spring.
    Palm Coast Utility Corporation has relocated from a model home near the Welcome Center into new offices off of Old King’s Road. New rates, fees and charges were placed in effect on January 1, 1979. These adjustments represent the first overall revision of rates by the Utility since 1971. Due to inflation and increased construction costs, the contribution-in-aid -construction for water has been established in the amount of $640. or $810 depending on Section. The water tap, meter installation and connection fees will range between $255. and $320. For new homesite purchasers who do not connect to the system, there will be an assessed availability fee of $4.00 per month for both water and sewer service.
    In the area of residential lot improvement, all improvements including central sewer failities scheduled to be completed by the end of the year, were completed on time.
    A second fire truck was loaned by ICDC to the Palm Coast Fire District and the volunteer Fire Department.
    Our own Palm Coast Construction Company has entered the residential market and is adding final touches to prototype models.
    The Sheraton Palm Coast Resort Inn received awards of excellence at the Sheraton World Conference held in Boston in September.
    Headlining the Spring Festival was Archie Campbell, of television’s Hee Haw fame. This six-day celebration was highlighted with and international bathtub boat race, the Italian American Festa, a four-mile foot race, band concerts, fireworks, tennis and golf tournaments.
    The year was not all fun and games. Research and hours of hard work were poured into a four-year effort as the Comprehensive Land Use Plan (CLUP) was completed. Working directly with state planning agencies and receiving valuable input from outside consultants, the ICDD planning staff has readied a plan which provides a working framework describing the locations of future residential units, parts, roads, recreational areas, industrial property and commercial stores.
    This year as Palm Coast continues to grow and develop, we at ICDD look forward to the many new and exciting events which will take place. Personally, I am very enthused about the future and hope our residents and future residents share this enthusiasm about our community. Sincerely, Alan Smolen
    Alan Smolen President AS/agk

    The above from: ITT Community Development Corporation, Exective Offices, Palm Coast, Florida 32051 Telephone (904)445-2628.

    From the Year:


    Dear Palm Coaster,
    It seems every year gets better at Palm Coast and 1979 was a year of solid accomplishment. A brief look at the year in retrospect will explain why I feel that way.
    Early last year Palm Coast Shopping Center saw five businesses open and in April, Publix Supermarket held its grand opening. Today there are 17 tenants in the shopping center, with more on the way.
    The East Flagler Service District was activated in April. This was a giant step towards Palm Coast having one uniform governmental entity.
    The Palm Coast Industrial Park gained a new tenant with the decision by the Wittemann Company of Buffalo, New York, to relocate here. We also began construction of a 25,000 square foot building shell, which we will finish to suit a tenant, and thus provide a competitive delivery date for new industry.
    A new ITT subsidiary ITT Transportation Distribution Service Center, established its headquarters in Palm Coast.
    Another busy element was the religious sector of Palm Coast. The Mother Seton Catholic Church was dedicated in May. Temple Beth Shalom is under construction and the United Presbyterians and United Methodists are both planning to build houses of worship.
    The 200 member Italian American Club held its annual Festa in the Spring, and the club purchased an acre of land where the clubhouse will eventually be built.
    The amenities in Palm Coast continue to expand with the new Swim and Racquest Club completed in December 1979, the expansion of the Marina facilities nearing completion , and our second 18 hole golf course, which was designed by Armond Palmer and Ed Seay, is under construction and due for completion by the end of December 1980.
    Sepaking of golf, Nancy Lopez has continued to represent Palm Coast well by leading the LPGA in wins. Nancy will also purchase one of the new Fairways Condominiums nearing completion , along the 17th Fairway.
    The capacities of the water treatment plant and the wastewater treatment plant were expanded last year. The water plant tripled its capacity and the wastewater plant doubled its capacity. Not only de we have good water in Palm Coast, but the water service we provide had a direct bearing on the reduction of fire insurance rates for residents of the Palm Coast Fire District – a savings for everyone in the District.
    Another highlight last year was the opening of Daytona Beach Community College Flagler Center in the Palm Coast Shopping Center. With nearly 400 students from all parts of the Country, the center has already outgrown its facilities and may soon be expanding to a second building in the shopping center.
    Continuing in education, ICDC again last year awarded a 1,000 scholarship to a Flagler Palm Coast High School graduating senior.
    A middle school has been recommended by the State, and ICDC has donated 20 acres of land to the School Board for the school site with an option to purchase an additional 10 acres if needed.
    Our postal service grew again last year. The new Palm Coast Post Office opened in March and began home delivery service in November.
    Construction of new homes was brisk last year, nearing the 300 mark. Our new model home center opened in the Woodlands featuring homes by Palm Coast Construction Company, Brattlof Construction Company and Red Carpet Development.
    The models are open in our new 200 unit condominium being constructed along the 16th and 17th golf course fairways, and units are available for sale in the states where we are registered.
    After many months of planning the I-95 interchange moved closer to reality. Constuction should begin by early 1980.
    Tournaments were much in evidence last year. First, The Nancy Lopez Pro-Am was held in February, followed by the Florida PGA Tournament of Champions . In June, The Colgate/PalmCoast World Mixed Team Championship was won be Lee Trevino and Nancy Lopez. The Michelob Light/Palm Coast Pro-Am Tennis Championships were played at our tennis complex. Out Touring pro Tom Gullikson, who is building a new home in Palm Coast played an exciting exhibition match with another outstanding pro Marty Riesssen.
    Approximately 6,000 homesites were completed by the end of 1979. In addition to all committed improvements, these homesites have central sewer facilities.
    All in all, it was a tremendous year in PalmCoast, and we look forward to 1980 and the beginning of Palm Coast’s second 10 years, Sincerely, Alan Smolen President EXEC1/B

    The above from: ITT Community Development Corporation, Exective Offices, Palm Coast, Florida 32051 Telephone (904)445-2628

    From the Year:


    Dear Palm Coaster
    The year 1980 was an important milestone year for Palm Coast as several
    major projects were finished and others were speeding toward completion.

    Perhaps the most enthusiasm has been generated by the I-95 interchange which
    is soon to be completed at St. Joe Grade Road. The 3.6 million interchange
    will mean less travel time, reduced transportation costs and the ability for
    quicker response to emergency services for Palm Coast residents.

    Palm Coast development – both residential and commercial- experienced a rapid
    growth during the year. In spite of a national downward trend, housing
    starts in Palm Coast continued to show significan increases, up 12 % from

    Palm Coast housing took new directions in 1980, as construction began on a
    number of new model homes. included are luxury homes now under construction
    near the Pine Lakes Golf Course, waterway homes across from the Welcome
    Center, and moderate priced homes off of Belle Terre Parkway North. A total
    of 16 new model shelter units are planned to be opened at various times
    during 1981.

    Contributing significantly to the 1980 total of over 400 housing starts is
    the accelerated condominium activity. Three additional phases ( 76) units
    which are scheduled for completion within the next four months, will bring
    the Fariways condominium complex to a total of 200 units.

    The highlight of commercial activity was the grand opening of The Witteman
    Company headquarters. Formerly based in Buffalo, New York, Wittemann moved
    into their new 1.25 million Palm Coast facility in July, opening 70 jobs
    for the local workforce.

    The response to the newly completed Professional Office Building, which is
    already 75 percent leased, ws so favorable that plans now are being made for
    additional professional office space construction.

    Palm Coast amenities also were in the forefront of the communitys growth
    during the past year. The Belle Terre Swim and Racquet Club had its grand
    opeing last Spring, and now hosts many swim meets throughout the year.

    The Palm Coast Marina, one of the finest docking facilities on the Southeast
    Coast, was officially christened last Spring. The Beautiful new Pine Lakes
    Country Club golf course, designed by Arnold Palmer and Ed Seay. held its
    grand opeing in December, and is in excellent playing shape. Final plans
    were approved in late 1980 for the new Bowling Center. This facility, to be
    located on Old Kings’ Road, just west of the shopping center, is scheduled
    for completion during the summer of 1981.

    For Palm Coast clubs and organizationa, 1980 was the busiest year I can
    remember. The Internation Festival, Italian American Fests, Mother Seton
    Church’s annual Oktoberfest, Palm Coast Vicic Associationa July 4th and
    Labor Day celebrations and concerts of classical and jazz music were
    tremendous successes.

    The Flagler Palm Coast Kiwanis Club brought the Circus to town in April, the
    Flagler County Friends of the Library opened a library in the Shopping
    Center, The Italian American Club began construction of their new club
    facility, and the Palm Coast YMCA sponsosred a regional swim meets, soccer,
    and volley ball leagues, parades, dances and parties.

    The relilgious sector of Palm Coast continued to expand in 1980. First
    services were held in March at the New Temple Beth Shalom on Wellington
    Drive, and the Presbyterian Church of Palm Coast broke ground for a worship
    facility of their own on Florida Park Drive.

    As of July, 1980, the Florida Legislature placed Palm Coast Utility
    Corporation under the jurisdiction fo the PSC. Under this new arrangement,
    the Utility has sought and may periodically seek new water and sewer rates,
    fees and charges from the Public Service Commission, Tallahassee, Florida
    32304. where current and pending rates are available.

    Further steps for expanded educational facilities in Flagler County were
    bgun in 1980. a 6 Million school bond isssue received voter approval in
    September, giving the Flagler County School District the go ahead for
    construction of a middle school in Palm Coast. The site consists of 30 acres
    of land, 20 or which were donated by ICDC.

    Agreements were finalized between ICDC and Daytona Beach Community College
    for an ICDC donation of 100 acres to be used in the future as a Flagler
    County branch campus.

    Palm Coast’s growth also was evident in the living rooms of our residents.
    Palm Cable, Inc., continued its expansion program making cable TV service
    available to more than 1,000 homes in Palm Coast. Home Box Office HBO and
    Cinemax are now available to cable TV subscribers. In addition, installation
    of a new satellite receiving station in September made possible the TV
    reception of the Superstation Atlanta’s Channel 17.

    Im certain that when the history of Palm Coast is penned sometime in the
    distant future, the year that began the Community’s second decade 1980 will
    warrant two chapters instead of one. It has been a year of outstanding
    accomplishment in Palm Coast; one in which we can all take pride, an I look
    forward to even greater growth and progress in the years ahead.
    Alan Smolen.

    The above from: ITT Community Development Corporation, Exective Offices, Palm Coast, Florida 32051 Telephone (904)445-2628

    From the Year:


    Dear Palm Coaster:
    For Palm Coast, 1981 was a very busy year; a year of important and wide ranging achievements, and a year of positive progress. Her’s a briefs look at the highlights:
    The 3.6 million Palm Coast Parkway/I-95 interchange – funded more than 95 percent by ITT Community Developoment Corporation (ICDC) was christened in May by Florida Lt. Governor Wayne Mixson, who called the project a "artenership between private industry and government." ICDC planners perdict the interchange will create many opportunities for commercial and industrial growth in the community.
    With this in mind, ICDC opened Palm Coast Industrial Park west of U.S. 1 in November. The Park with 32 acres in its first phase – offers smaller businesses a lower cost alternative to the Pine Lakes Commerce/Industrial Park. Due to begin production early in 1982 in the new park is Olde St. Augustine Ovens, Inc. manufacturers of all-natural cookies and other healthporiented baking products. Another company to begin operations in 1982 is Cardiac Control Systems, Inc., a cardiac pacemaker firm. Cardian Control initially will employ 70 persons in its 25,000 square foot facility in the Pine Lakes park, and could employ up to 1,000 people within 5 or 6 years, according to its management at this time. Negotiations for facilities in the parks are continuing with several other companies.
    Tenants in The Atrium, the first professional office building in Palm Coast, began doing business in their new offices in Janary. Next door, the Realty World Complex, which includes a branch office of Centruy Federal Savings and Loan, opened for business in November, Barnett Bank’s branch office near the shopping center is scheduled for completion in January; Florida Federal Savings and Loan’s branch nearby is scheduled for completion in March and Security First Federal Savings and Loan in the Palm Harbor Shopping Center completed expansion of its facility in November.
    Palm Cable, Inc., continued its expansion program in 1981, with service now available to more than 1,7000 Palm Coast homes. Also, the Entertainment and Sports Network (ESPN) was added to the basic subscriber package, joining pay channels HBO and Cinemas, Atlanta’s superstation Channel 17 and eight other channels.
    Palm Coast’s water and wastewater treatment plants are undergoing expansion and are expected to be completed next summer, the water treatment plant won its second consecutive state award for operational excellence. The Florida Public Service Commission – which regulates Palm Coast Utility Corporation (PCUC)- authorized PCUC in December to increase the sewer fee to $1,342 for all sections of Palm Coast. The increase will be in effect in 1982. A Palm Coast substation of the Flagler County Sheriff’s Department opened in October, manned by full-time deputies and Palm Coast volunteers. The Belle Terre Middle School, being built on 30 acres of land donated by ICDC is progressing toward a Fall, 1982 opening.

    Coquina Lanes, a new 20-lane bowling center, opened in August. A little further north on Old Kings Road is the spacious clubhouse of the Italian-American Club, completed last spring. The former Palm Coast Yacht Club reopened in March as The Harbour Restaurant with beautifully renovated interior and new menu selections. The Pine Lakes Country Club restaurant began serving gourmet dinners and lunches to members in the fall. Also the Palm Harbor Tennis Club has been enlarged and improved withe the addition of a lounge and restroom/locker building, and the 19th Hole at the Palm Harbor Golf Club was enlarged and renovated as well.
    Special events staged this year were huge successes. The Internation Festival in October drew more than 10,000 visitors to Palm Coast. The Italian Festa in May, Mother Seton Catholic Chursh’s Oktoberfest, the Palm Coast Civic Association’s July 4th celebration and Entertainment ’81 concert series, plus special events staged by the YMCA and other organizations made thie year’s social calendar a busy and entertaining one.
    Religious organizations continued to thrive. St. Mark by the Sea Lutheran Church celebrated the fifth Anniversary of its sanctuary by buring the mortgage papers on July 5. Trinity United Presbyterian Church dedicated its beautiful new sanctuary in late April, and members of the Palm Coast United Methodist Church broke ground for their new sanctuary in November.
    Meanwhile, ICDC continued its diversification of housing product lines, with the opening of Pine Lakes Village, a new country club community of luxury single family and condominium homes west of I-95. The 1.8 million Pine Lakes Country Club clubhouse, local point of Pine Lakes Village, was christened in August by Arnold Palmer, co-designer of the 7,066 – yard Pine Lakes course.
    The Woodlands Model Home Center featuring six new single family homes designs, opened in early summer almost simultaneously with the first 20 units of the Woodhaven Condominium on Old Kings Road. Two other new Palm Coast Construction Company model homes – the Sandpebble and Westwind – opened in January on canal lots directly across from the Welcome Center.
    In other residential news, land development of residential lots – i.e., roads, central sewer and water lines – was completed ahead of schedule in all sections of Palm Coast that had an Improvement Completion Date of December 31, 1981. Similarly, we expect all other previously committed residential land development in Palm Coast to be completed ahead of schedule.
    In sports, Roscoe Tanner and Brian Gottfried battled Palm Coast resident touring pro Tom Gullikson in tennis exhibition matches this year, and Palm Harbor and Pine Lakes golf courses hosted the North Florida PGA’s sectional championship and Tournament of Champions. Our LPGA touring pro, Nancy Lopex-Melton, after tuning up her game in Palm Coast last winter, had a fine year on the tour and will continue to represent Palm Coast on the LPGA circuit.
    So you see, it has been an active, exciting year in Palm Coast. I look forward to more of the same. Sincerely, Alan Smolen, President.

    The above from: ITT Community Development Corporation, Exective Offices, Palm Coast, Florida 32051 Telephone (904)445-2628

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