I suspect that there were a few other factors other than water supply, recall that the Clubhouse and grill burned to the ground a few years back, I believe they have been using trailers since that time.
Also recall that Stevinson Ranch is not all that close to civilization, smack in the middle of the farm community, 30 minutes to Modesto, over an hour to Fresno, perhaps the revenue streams are not what they needed to be. Factor in the capital outlay to rebuild the clubhouse, maybe it didn't pencil out all that well.
I have heard it was a labor of love for George Kelley but it can't be a money loser either.