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Troy Board of Commissioners Regular Monthly Meeting Minutes January 2026

Town reviews financing terms for golf course sale

$500,000Town of TroyTR&GJanuary 5, 2026

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Description

The Board reviewed proposed terms for selling Densons Creek Golf Course to TR&G for $500,000, financed over 15 years at 4.5% interest, with conditions on ownership, insurance, and operations. A public hearing was scheduled for February 2 to consider the transaction.

Contract Details

Contract Amount

$500,000

Vendor

TR&G

Agency

Town of Troy, NC

Contract Type

OTHER

Document Date

January 5, 2026

Contract Term

15 years at 4.5% interest; TR&G must remain owner for at least six months

Renewal Info

Proposed financing prohibits prepayment on the mortgage until after year eight; TR&G must maintain property and liability insurance naming the Town of Troy as co-insured and remain owner at least six months.

Issuing Agency