St. Johns County votes to approve 37-acre purchase of World Golf Village property for $5.5 million

William Clayton
·2 min read
6

In a 4-1 decision, the St. Johns County commissioners gave the green light Tuesday to a 37-acre land acquisition within the World Golf Village property.

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St. Johns County has announced that the World Golf Foundation has agreed to purchase the property at $5,297,500, alongside an additional $202,500 for inventory including the Hall of Fame, IMAX Theater, PGA Tour Production Building, and World Golf Village Marks. With a total purchase price of $5.5 million, the deal marks a pivotal moment for the county.

This decision follows the World Golf Hall of Fame’s relocation announcement in June 2023, as it prepares to move to the USGA’s campus in Pinehurst, North Carolina.

The new agreement brings an end to the Tourist Development Agreement signed on November 26, 1991, and the Ground Lease for the Hall of Fame dated May 10, 1995. As per the agreement, the World Golf Foundation will provide a clear title to the county for the Hall of Fame.

The PGA Tour Production building situated on Wold Golf Foundation-owned property will continue operations with a leaseback agreement until March 2025, facilitating a seamless transition to their new headquarters in Ponte Vedra Beach.

Additionally, the foundation owns all the parking areas, common areas, and other improvements at the core of the World Golf Village.

The agenda also stated the continued operation of the IMAX Theater at the World Golf Village and the responsibility to maintain the common space through the Property Owners Association until March 2025.

Funding for the acquisition will draw from various sources, including $2 million reallocated from the American Rescue Plan Act and an additional $2 million from the 2019 Capital Improvements Fund initially earmarked for a library construction project.

Deliberations among commissioners explored potential utilization options for the acquired property, ranging from library facilities, museums, offices, or hotels, with an emphasis on meeting community needs.

Plans for the property’s future will be presented to the board in May.

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