The members of Somersett County Club (SCC) have apparent been give the ultimatum – buy the course or it will close or go BK or both. I’ve been told that there was a 10 day time line on the notice, so there should be action this week. Somersett Development explained the situation (and a bit about the Town Center) in this letter to homeowners.
Who is SCC? There is a LLC and an INC registered, one of which is the “owner” and the other the “manager”. LLC was established 10/4/2002 and Somersett Development LTD is the sole manager. Somersett Development’s sole director is Smith Realty Finance. Smith Realty Finance’s director positions are all held by G Blake Smith. SCC Inc. may be the operator. Blake is listed in all the board of director positions on the filing with the Secretary of State, originally filed 5/23/2003. The two liens for unpaid dues identified “Somersett Country Club” as the plaintiff but didn’t’t identify Inc. or LTD. However, the Assessor has all the land that the golf course occupies owned by Somersett Development. The only recorded document on SCC is a water document, but it is worth a look, as it identifies who owns what, at least at that point in time.
For the record, all the 18 hole golf course in Somersett is owned by Somersett Development per the Assessor. Not SCC.
So watch for Somersett to be breaking news this week. A golf community without a golf course, excepting the putt putt course owned by the HOA.