Chief Executive Officer Becker indicated that the Management Report outlined this process in further detail (a copy of which is attached), but the basic terms of the CEA included a term of 35 years, a contribution of Eight Million Nine Hundred Thousand ($8,900,000) of capital (including in-kind goods and services) by the BDF, an allocation of the Net Operating Income ("NOI") of 75% to NOCPIA and 25% to the BDF of the first $1,150,000 of NOI with any amount of NOI received in excess of that amount be allocated 55% to CPIA and 45% to the BDF.

Commissioner Tom Fierke asked about the return of contribution of the Management Fee, and Chief Executive Officer Becker indicated that the operator will be paid a Management Fee equal to four percent (4%) of Gross Revenues earned each fiscal year for the operation of the Golf Complex, which is similar to the arrangement NOCPIA currently has with Billy Casper Golf. As set forth by the BDF response to the RFP and as stated in the CEA, the operator will contribute seventy-five percent (75%) of its Management Fee (or three percent (3%) of Gross Revenues) for capital improvements in the Golf Complex.

Commissioner Gerry Schoen asked Mr. Gerry Barousse, a representative of the BDF who had previously made a public comment, what the schedule will be for the implementation of the new golf course. Mr. Barousse indicated that depending on when the State released the plans for bidding, the new golf course would open in either 2014 or 2015.

It’s little more than piles of mud and a steel frame, but in the coming weeks, the construction zone next to City Park’s Great Lawn will be its newest attraction: City Putt, a two-course, 36-hole mini golf facility. The new attraction is part of City Park 2018, the park’s $150 million master plan that has already has seen the creation of the Great Lawn, new tennis courts and festival grounds with more to come.

City Putt will cost $2 million and is being paid for through several sponsorships, said John Hopper, City Park’s chief development officer.

New Orleans — It’s little more than piles of mud and a steel frame, but in the coming weeks, the construction zone next to City Park’s Great Lawn will be its newest attraction: City Putt, a two-course, 36-hole mini golf facility.

The new attraction is part of City Park 2018, the park’s $150 million master plan that has already has seen the creation of the Great Lawn, new tennis courts and festival grounds with more to come. City Putt will cost $2 million and is being paid for through several sponsorships, said John Hopper, City Park’s chief development officer.

City Park's long-promised championship golf course complex took a major step to becoming reality Tuesday. The City Park Board of Commissioners unanimously approved a measure that has it partnering with the Bayou District Foundation to run the new complex and help pay for it.

There are a few more hurdles to cross with FEMA and the state as well as a management agreement to draw up with the Bayou District Foundation. But those aren’t considered major issues and construction on the new golf course could start as early as February. At that start date, completion would likely be in the fall of 2014. A later construction start could mean the course would open in the summer of 2015.

The Municipal Police Employees Retirement System lost nearly $860,000 last fiscal year as a result of its ownership of two northwest Louisiana golf courses.

The golf courses have been a continuing drain for years on the system, which has been relying more and more financially on increased contributions by local governments — the employer of police employee system members.