One way to resolve some of the issues: set up the course as a kind of private country club for locals, i.e. the golfers who now play the two courses. They get unlimited play at their current green fees, around $20 to $30 a round as I understand it. Outside play allowed, at $200 a round, but only in two ways:
1. As guests of 'members';
2. Through a daily lottery that permits some small, fixed number of golfers per day.
Tiger Woods is honorary head pro. He comes to the course twice a year, for a few days each time, to conduct clinics, meet with the community, etc.
To finance construction, including infrastructure changes: Obama and Keiser contribute $8 million each, either personally or through foundations. Their example should set the ball rolling, and motivate other wealthy people and institutions to contribute.
To finance running costs after the course is built: the PGA Tour commits to hold an annual tour event at the course. Maybe the Western Open or even the Tour Championship. That should raise several million dollars a year, enough to cover operating costs. A pro-am with members might be an interesting part of the event.
Course includes First Tee program, caddies and Evans Scholarships. Maybe Tiger and/or the PGA Tour can induce other touring pros to make appearances from time to time, holding clinics, meeting members, playing for-fun matches with/against them.
Course name: Obama Memorial. Obama agrees to maintain some involvement with the course and its members: like Tiger, this comes to a few days a year.
Seems to me something like this truly benefits local golfers and their community, and may require little or no public funding.