An article I saw on the web says the project was put on hold several years ago. Dated September 2002, so maybe something has changed since then, but here is what the article said...
"Golf project suspended
The Nebraska Alumni Association Board of Directors has voted to suspend development of the Nebraska National Golf Course project.
The project was to include facilities for the university's new golf management program, turf grass research program, and the men's and women's golf teams. Given the state of the economy, lack of secured investment partners and potential infrastructure costs associated with the chosen site in northwest Lincoln, the board decided to put the project on hold."