An Open Letter to the Walden Lake Community Regarding the Proposed Golf Course Co-Purchase
Dear Walden Lake Residents,
Like many of you, I value the unique character of Walden Lake. The golf course, open space, and watershed have long been defining features of our community, and preserving those assets is an admirable goal. However, before asking homeowners to support a proposal that could involve millions of dollars and long-term financial obligations, we deserve substantially more information than has been presented.
The recent newsletter column by President Tomes outlines a vision for a possible co-purchase of the golf course property involving the Walden Lake Community Association (WLCA), the City of Plant City, and an unidentified private partner. While the concept is presented as affordable and beneficial, the proposal raises more questions than it answers. Additionally, I assume this is the official position of the WLCA Board since Mr. Tomes published the proposal in the official WLCA newsletter. If not, then there are other issues which need to be addressed.
The Proposal Is Not a Financial Plan
The newsletter column repeatedly references costs to homeowners but never discloses the most important number: the purchase price of the property.
Without knowing the purchase price, appraised value, financing terms, closing costs, legal expenses, environmental liabilities, and long-term maintenance obligations, no homeowner can determine whether the proposal is financially responsible.
The statement that the cost would amount to approximately $60 per household per year is presented without any supporting calculations or independent financial analysis. Responsible governance requires more than estimates—it requires verifiable facts.
Critical Assumptions Have Not Been Proven
The proposal assumes:
The City of Plant City will purchase the watershed.
The City will provide matching funds.
A private co-purchaser exists and is financially capable.
The golf course can be successfully operated into the future.
HOA-owned property can be developed elsewhere to create approximately $2 million in value.
All parties will agree to complex legal arrangements.
None of these assumptions are supported by executed agreements, approved budgets, or publicly available commitments.
If even one of these assumptions proves incorrect, the financial burden on homeowners could increase substantially.
Residents Should Understand the Risks
Owning land carries significant responsibilities.
If the HOA acquires portions of the property, residents should understand:
environmental liability,
insurance costs,
legal exposure,
maintenance obligations,
future capital improvements,
and the possibility of special assessments.
These issues are not discussed in the proposal.
Likewise, if the private golf operator fails—as has previously happened —what protections exist for homeowners? Who assumes responsibility for maintaining the property? What prevents the HOA from becoming the owner of an expensive, non-performing asset?
These questions deserve clear answers before any consideration. The proposal provides no contingency plan. Responsible governance requires preparing for what can go wrong—not simply hoping everything goes right.
Preserving Property Values Is Important—but Should Be Supported by Evidence
The newsletter states that purchasing the golf course would protect or increase property values while development would reduce them.
Perhaps that is true.
However, no independent appraisal, market study, or analysis from a qualified real estate economist has been presented to support these conclusions.
Major financial decisions should be based on objective evidence rather than assumptions.
The Community Deserves Complete Transparency
Before residents are asked to consider any financial commitment, the Board should provide:
An independent MAI appraisal of the property.
The negotiated purchase price.
A complete acquisition budget.
A 10-year cash flow and financing analysis,
Copies of any proposed agreements with the City and the private co-purchaser.
Environmental and engineering reports.
An independent legal opinion describing the HOA’s potential liabilities.
Independent review by qualified financial and legal professionals.
Only then can homeowners make an informed decision.
There May Be Other Solutions
Preserving open space does not necessarily require the HOA to purchase the property.
Other alternatives should be explored, including public grants, development agreements, density transfers, public acquisition of environmentally sensitive areas, or negotiated restrictions that preserve community character while minimizing financial risk to homeowners.
Every reasonable option should be evaluated before asking residents to assume a long-term financial obligation.
Moving Forward Together
Every resident shares a common objective: protecting Walden Lake’s quality of life.
This is not an argument against preserving the golf course. It is an argument for making decisions based on complete information, independent analysis, and fiscal responsibility.
A proposal involving millions of dollars deserves more than optimism—it deserves transparency, due diligence, and accountability.
Before asking homeowners to commit their money, the Board should provide all of the facts so the community can evaluate the proposal on its merits rather than its promises.
Respectfully,
Scott Collins
