ST. JOHNS COUNTY, Fla. – St. Johns County has decided to purchase a large piece of property in the core of World Golf Village for $5.5 million.
The decision to buy about 37 acres of property was approved 4-1 during Tuesday’s St. Johns County Commission meeting.
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County commissioners said the purchase allows the county to decide what to do next with the property as opposed to selling it to a private company and losing control over what goes on the site next.
In 2022, The World Golf Hall of Fame announced it was leaving St. Augustine and returning to North Carolina, where it will be part of the USGA’s campus at Pinehurst.
“These departures and relocations provide a turning point for the SJC community, offering a unique opportunity to shape the development of these properties that align with the community’s vision and needs,” the county said in the proposed agreement.
The World Golf Foundation owns the PGA Tour Production building on the property and leases to the PGA Tour, Inc. and owns all of the parking area, common area, and other improvements within the core of the World Golf Village.
The county requested two appraisals for the property, and the average appraised value from the two appraisals was $5,297,500. The county called it a good deal.
The county said the Foundation has agreed to a purchase price of $5,297,500 for the property and $202,500 for the inventory in the Hall of Fame, IMAX Theater and the PGA Tour Production Building and the World Golf Village Marks for a total purchase price of $5.5 million.
The agreement also terminates the Tourist Development Agreement dated November 26, 1991, and the Ground Lease for the Hall of Fame dated May 10, 1995 with the World Golf Foundation providing a clear title to the county for the Hall of Fame.
PGA Tour, Inc. and World Golf Foundation, Inc. have also requested to lease back the Tour Production Building until March 2025 to facilitate an efficient move of the production group to their new headquarters at TPC in Ponte Vedra Beach.
The proposal includes an agreement with the Foundation to continue to operate the IMAX Theater and the responsibility to maintain the common space through the Property Owners Association until March 2025.
The county would then be responsible for the insurance costs for the property as part of the agreement.
The recommendation for funding for the county includes the reallocation of $2 million in American Rescue Plan Act Funding and $2 million from the 2019 Capital Improvements Fund approved for the construction of a library.
Current recommendations for how to repurpose the space include using the property as a possible museum, offices, or maybe a hotel.
The commissioners agree the potential for the area huge, and that public input on how to move forward will be essential. A discussion was held last year and topics ranged from selling the properties to buying it and moving county facilities there.
Commissioner Sarah Arnold noted both the county clerk’s office and supervisor of elections are “bursting at the seams,” and she suggested WGV might be a good spot for a library and community center.
One member of the public said the traffic is already too heavy in the area.
Another resident said they would be forming the World Golf Village Alliance of Homeowners, to make sure their voices are heard in the process.
The county said it plans to bring something before the board about potential plans in May.