Just to expand this great thought outside of North America.
Within 15 miles of my house are two public courses that could be made great, with a little money and continuing TLC.
The first is Kinghorn, an Old Tom Morris design that was one of the better courses in Scotland 60+ years ago, but which was emasculated in WWII for an airfield and now tries to cram 18 holes into land on which 13 holes once stood. The land for the NLE 5 holes is still there as a farm, and could be reclaimed, and the turf and contours of the current course could produce 13 really good links/raised beach holes. Think Kingsbarns, with a far richer golfing history.
The second is Dunnikier which was built in the 1960's with encouragement from the R&A as a possible Open Qualifying course. It is parkland, but has elasticity, fine contours and an above average design. All that really lets it down is extremely mediocre maintenance and a complete lack of vision. Properly tweaked and lovingly maintained, this could be one of the top-5 inland courses in Scotland.
However, try prying either of these courses out of the cold dying hands of the local county council..........