A year after the struggling DeBell Golf Club tapped into a $1-million loan designed to pull it out of the red, the course appears to be on the path to financial recovery.
The loan was part of a $2-million bailout package approved by the City Council for the municipal amenity that then-Mayor Jess Talamantes said was “too big to fail.” The National Golf Foundation was brought in to help turn the course around.
According to the latest financial data, it appears that the strategy is working, helped by a prolonged dry spell that has meant more playable days on the course, officials say.
As of May, DeBell's operating revenue was $1.78 million with expenses of $1.76 million, according to city records.
That's a flip from the same period in 2011, when operating expenses of $1.8 million were outpacing revenues of just $1.58 million. DeBell ended the 2010-11 fiscal year about $300,000 in the red. In 2009 the course lost about $397,000.