Really, Forrest, no credit necessary.....Really!
My only contribution was to follow Arnie's guys in the presentation sequence, thereby making them look even better in the eyes of the committee.....
As to the public ownership of golf courses, private owners have filed lawsuits from the early 1900's to stop them and their "unfair" competition. The right - and even the duty - of governement agencies to provide public recreation has been upheld every single time.
Lou is right in the fact that originally, public golf was thought to be a non profit public good that the government should provide. I expect we will continue to see lawsuits to that effect now that golf is more profitable. On the other hand, since most public courses also now provide business opportunities to management groups, maybe not.
It can be a real advantage. For example, my Giant's Ridge courses are state owned. Their greens fee is based on cost, whereas the private sector was based on market. The lower interest rate and break even in the name of generating jobs and tourist revenue mentality allows them to charge a $79 green fee when the Brainerd area courses tried to charge $135 and up while the market was hot.
Of course, they are now at the same greens fees as GR, which has held steady. However, GR continues to do well, mostly (I think) because there is an aura of "damaged goods" around a course that drops its fees too much.
While I think both are fine courses (as will be the Fortune Bay course, subsidized by casino money rather than government money) a comment from a hotel guest at Giants Ridge summed up the reallity of the situation. He was a banker from St. Paul, and he told me he liked the courses as well as anything in Brainerd, but the biggest draw was that hotel and golf combined was equal to the golf alone in Brainerd. When entertaining 4 to 12 clients, he can give them what they want for lower cost at Giants Ridge........
So, if the $94 Mil prices the La Quinta course well above the Desert Willow or other public courses in PS, then the project will fail, or need subsidy. If that is not much above what others have spent, then it will do fine. Sooner or later, money counts. It doesn't always have to be the lowest cost, but the monies spent must provide the customer and management a greens fee that allows the customer to percieve real value.
Time will tell, as it always does.....