Jonathan,
I live in Chicago and I'm a member of a top-100 golf club. We just did a golf course restoration, so I have some basis at questioning the figure.
I'm also in the commercial real estate banking business so I have a pretty good idea what commercial property costs. I'm not doubting the ability of Congressional members to pay, I'm just wondering how they could spend $40MM. Could they? Of course, but I'm not sure how they could do it on the golf course. Or on the clubhouse.
For what's it worth, didn't Sand Hills cost $1.2MM to build? In today's dollars, that's about $2MM. Redoing the greens at Congressional should not be more than a few million. But, it is the Washington, DC, area and people might be used to overblown budgets.