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Meadowloark Golf Course is the only public golf course in
Huntington Beach (the other 18-hole course is the private
SeaCliff Country Club, which includes tennis courts and a
clubhouse the public can rent for special events.) In 2008
the City of Huntington Beach entered into an agreement
(Consent to Sublease Agreement) with the operator of
Meadowlark public 18-hole course, American Golf Corporation,
a California Corporation, CNL Income EAGL Meadowark, LLC, a
Delaware limited liability company, as subtenant, and
Evergreen Alliance Golf Limited, L.P., which operates the
premises. Sound confusing' Here's the scoop!
In 1974, the City of HB entered into a lease agreement with
American Golf Corporation for the operation of Meadowlark
Golf Course. In July 1992 a new agreement was approved. Its
revisions provided major capital improvements to the golf
course and gave the city additional control over the
operational standards of the golf course.
American Golf Corporation then entered into an agreement for
transfer of 42 golf course properties across the U.S., one
of which was Meadowlark Golf Course. CNL, a real estate
investment trust (REIT) that invests in income-producing
properties with a focus on lifestyle related industries such
as golf courses, ski resorts, marinas, amusements, theme
parks entertainment centers and other recreation assets. CNL
net worth in 1998 was estimated at $1.4 billion.
Because of certain rules, REIT's are not permitted to
operate golf courses directly. Therefore, CNL leases its
course operations to other companies. EAGL is one such
company.
The City of Huntington Beach approved the lease agreement
with a stated Strategic Plan Goal L4 of creating an
environment that promotes tourism to increase revenues to
support community services and transform the city's economy
into a destination economy.
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