branson creek cbre branson creek 3-11-2011.pdf

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The Communities at BRANSON CREEK An Excellent +/- 138.7 Acre Senior Living Development Site in Branson, Missouri CB Richard Ellis, Inc. | Senior Housing Services Group | Property ID#176122 | Broker’s Lic. #00409987

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Page 1: Branson Creek CBRE Branson Creek 3-11-2011.pdf

The Communities at BRANSON CREEKAn Excellent +/-138.7 Acre Senior Living Development Site in Branson, Missouri

CB Richard Ellis, Inc. | Senior Housing Services Group | Property ID#176122 | Broker’s Lic. #00409987

Page 2: Branson Creek CBRE Branson Creek 3-11-2011.pdf

Contact Information:

David RothschildExecutive Vice President | Lic. 01211079619-696-8303 | [email protected]

Matthew WhitlockSenior Vice President | Lic. 0120729978-740-0024 | [email protected]

Mary ChristianSenior Vice President | Lic. 01223961619-696-8336 | [email protected]

Brian KirbyFinancial Analyst | Lic. 01505845619-696-8337 | [email protected]

Marifl or BernalClient Services Specialist | Lic. 01359437619-696-8392 | marifl [email protected]

Tina MachadoClient Services Specialist | Lic. 01823473619-696-8399 | [email protected]

CB RICHARD ELLISSENIORHOUSINGSERVICESGROUP

DisclaimerThis Offering Memorandum was prepared in March of 2011, by CB Richard Ellis, Inc. (“Broker”) solely for the use of prospective purchasers of the real property commonly known as the property (the “Property”). Neither the Broker nor the owners of the Property (“Owner”) makes any representation or warranty, express or implied, as to the completeness or the accuracy of the material contained in the Offering Memorandum.

This Offering Memorandum is confi dential. By accepting the Offering Memorandum, you agree (i) that you will hold and treat the Offering Memorandum and its contents in the strictest confi dence, (ii) that you will not photocopy or duplicate any part of the Offering Memorandum, (iii) that you will not disclose the Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner, and (iv) that you will not use the Offering Memorandum in any fashion or manner detrimental to the interest of the Owner or Broker.

We obtained the information within this Offering Memorandum from sources we believe to be reliable. However, we have not verifi ed its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi nancing or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

Confi dentialityThis Offering is highly confi dential. All of your employees or agents are bound by the Confi dentiality Agreement that you have executed and they shall not disclose any information relating to the marketing or potential sale of this community. The employees or residents at the community are not to be contacted or notifi ed of this potential sale activity in any way by you, your employees or agents. Competitive senior housing companies and properties are not to be alerted of this Offering. All communication, inquiries and requests should be directed to the CB Richard Ellis Senior Housing Services marketing team.

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: : D I S C L A I M E R A N D C O N F I D E N T I A L I T Y

D I S C L A I M E R A N D C O N F I D E N T I A L I T Y

Page 3: Branson Creek CBRE Branson Creek 3-11-2011.pdf

The Communities at Branson Creek was named one of America’s Best 100 Master-Planned Communities

3

: : E X E C U T I V E S U M M A R Y

The Offering

The CB Richard Ellis Senior Housing Services Group is pleased to present the exciting opportunity to develop a class A senior living community located at the beautiful, master planned community, The Communities at Branson Creek (“Branson Creek”), in Branson, Missouri.

The Communities at Branson Creek was named one of America’s Best 100 Master-Planned Communities, and includes new-home neighborhoods, top-notch recreational amenities and two top rated championship golf courses with world-class reputation on over 6,000 acres. At fi nal build-out Branson Creek will have single family homes for families, retirees and second homes, as well as other uses including but not limited to an equestrian facility, retail, grocery, hiking trails, educational uses, religious facilities and multi-family. Branson Creek is conveniently located just south of downtown Branson and is serviced by the Branson Airport which fl ies to 60 destinations daily. The owner and master developer of The Communities at Branson is San Diego, CA–based McMillin Homes.

The Branson MSA, including Stone and Taney County, has approximately 80,000 residents and draws over 7.9 million tourists annually to this entertainment Mecca featuring an array of theaters, attractions and active recreational pursuits.

McMillin Homes has set aside an ideal 138.7 +/- acre site nestled between two golf courses for development of a senior living community. The Owners are interested in selling this parcel to a senior living developer/operator. The Owners will entertain Offers for more or less land within the development, or different land within the development, depending on the desired specifi cations of the potential purchaser.

For more information regarding The Communities at Branson Creek, visit the websitewww.branson-creek.com and www.mcmillinhomes.com/branson.

Please contact the CB Richard Ellis Senior Housing Services Group to discuss this exciting opportunity further.

Site Size: +/-138.7 acres

Zoning: Approved master plan governing commercial and residential developments

Asking Price: None. The development site is being marketed “un-priced”

Bid Due Date: None. Owners will entertain offers immediately

E X E C U T I V E S U M M A R Y

Page 4: Branson Creek CBRE Branson Creek 3-11-2011.pdf
Page 5: Branson Creek CBRE Branson Creek 3-11-2011.pdf
Page 6: Branson Creek CBRE Branson Creek 3-11-2011.pdf

The owner makes no warranties or representation of any kind or character, expressed or implied, with respect to the matters depicted or covered by renderings, drawings, or illustrated information provided herein. For precise details regarding this proposed development, refer to the fi nal recorded plat. The owners of the property shown and their successors and assigns reserve the right to make zoning, devel-opment, ownership, and/or use changes for any part(s) of the properties. The developer reserves the right to change the amenity package and plans without further notice. All acreage is depicted as gross.

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: : P R O P E R T Y S U M M A R Y

Regional Aerial

P R O P E R T Y S U M M A R Y

Senior Housing Site+/-138.7 Acres

NORTH

Page 7: Branson Creek CBRE Branson Creek 3-11-2011.pdf

EXISTING LAND USES:A. Branson Creek Golf Course and Country Club +/- 276.2 acresB. The Fieldstone Villas +/- 29.4 acresC. The Fieldstone Bluffs +/- 38.9 acresD. Oak Knoll +/- 84.9 acresE. Ironridge +/- 25.4 acresF. The Legends +/- 17.3 acresG. Murder Rock Golf Course and Country Club +/- 75.1 acresH. The Cliffs +/- 9.1 acresI. Branson Airport +/- 341.1 acres

262727

28

29

38

39

4042

42

43

44

4647

48

44

4245

42

40

41

40

303132

33

34

3536

37

NORTH

1

3

67

8910

AA

E

GI

H

F

BCD

12

11

1314

151617

2324

1920

212522

18

54

2

Hwy 65

Hwy 65

ProposedSenior Housing Site

+/-138.7 Acres

PROPOSED LAND USES:1. Single Family Homes +/- 29.7 acres2. Commercial +/- 8.5 acres3. Open Space +/- 42.9 acres4. Equestrian Community +/- 65.5 acres5. Valley Cottages +/- 74.5 acres6. Open Space +/- 32.0 acres7. Gated Community Single Family +/- 101 acres8. Patio Homes +/- 51.9 acres9. Vacation Resort +/- 59.9 acres10. Golf Villas +/- 28 acres11. Vacation Resort +/- 55.3 acres12. Golf Villas +/- 79.4 acres13. Open Space +/- 23.6 acres14. Single Family Lots +/- 217.5 acres15. Religious +/- 89.1 acres16. Gated Single Family +/- 33.7 acres

17. Open Space Hiking Trails, Mine/Cave Ruins +/- 246.1 acres18. Educational Use +/- 55.8 acres19. Single Family Lots +/- 211.2 acres20. Patio Homes +/- 42.4 acres21. Vacation Resort +/- 85.3 acres22. Commercial (Retail, Grocery) +/- 85.3 acres23. Commercial Lifestyle Center +/- 29.8 acres24. Nightly Rental Cabins +/- 126.6 acres25. Patio Homes +/- 8.9 acres26. Golf Villas +/- 11.6 acres27. Single Family Lots +/- 217.6 acres28. Open Space +/- 35.9 acres29. Open Space +/- 125.4 acres30. Multi-Family Homes +/- 42.1 acres31. Educational Use +/- 62.4 acres32. Open Space +/- 255.8 acres

33. Offi ce +/- 35.9 acres34. Vacation Resort +/- 46.0 acres35. Gated Single Family +/- 24.6 acres36. Single Family Lots +/- 43.4 acres37. Theme Park +/- 256.7 acres38. Open Space +/- 77.4 acres39. Commercial +/- 49.3 acres40. Open Space +/- 984.9 acres41. Aviation Residential +/- 82.9 acres42. Industrial +/- 477 acres43. Valley Cottages +/- 55.8 acres44. Multi-Family Homes +/- 106.1 acres45. Equestrian Community +/- 300 acres46. Single Family Lots +/- 38.4 acres47. Multi-Family Lots +/- 24.5 acres48. Single Family Lots +/- 27.1 acres

The owner makes no warranties or representation of any kind or character, expressed or implied, with respect to the matters depicted or covered by renderings, drawings, or illustrated information provided herein. For precise details regarding this proposed development, refer to the fi nal recorded plat. The owners of the property shown and their successors and assigns reserve the right to make zoning, devel-opment, ownership, and/or use changes for any part(s) of the properties. The developer reserves the right to change the amenity package and plans without further notice. All acreage is depicted as gross.

7

: : P R O P E R T Y S U M M A R YThe Communities at Branson Creek Detailed Aerial

P R O P E R T Y S U M M A R Y

Page 8: Branson Creek CBRE Branson Creek 3-11-2011.pdf

The owner makes no warranties or representation of any kind or character, expressed or implied, with respect to the matters depicted or covered by renderings, drawings, or illustrated information provided herein. For precise details regarding this proposed development, refer to the fi nal recorded plat. The owners of the property shown and their successors and assigns reserve the right to make zoning, devel-opment, ownership, and/or use changes for any part(s) of the properties. The developer reserves the right to change the amenity package and plans without further notice. All acreage is depicted as gross.

8

: : P R O P E R T Y S U M M A R Y

NORTH

Senior Housing Site Aerial with Existing Land Development

P R O P E R T Y S U M M A R Y

Senior Senior Housing SiteHousing Site

138.7138.7++-- Acres Acres

TheLegendsBRANSONCREEK

Page 9: Branson Creek CBRE Branson Creek 3-11-2011.pdf

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Branson Attractions Map

: : P R O P E R T Y S U M M A R Y

P R O P E R T Y S U M M A R Y

John Daly’sJohn Daly’sMurder Rock Murder Rock Golf CourseGolf Course

Branson Branson AirportAirport

Senior Housing Site+/-138.7 Acres

Branson Landing (100+shops)Waterfront shopping, dining and entertainment

Skaggs Regional Medical Center

College of the Osarks

Sight & Sound Theatre

Big Cedar Lodge

Branson Scenic Railway

Thousand Hills Thousand Hills Golf CourseGolf Course

Pointe Royal Pointe Royal Golf CourseGolf Course

Table Rock Table Rock State ParkState Park

Branson CreekBranson CreekGolf CourseGolf Course

Holiday Hill ResortHoliday Hill Resortand Golf Courseand Golf Course

Skaggs Community Hospital

Silver Dollar City Park

The Meadows Mall & Cinema

0 mi 1 2 3 4

7 miles

Branson Landing Cruises on Lake Taneycomo

Big Cedar Lodge

With over 50 theaters and 100+ shows, Branson is known as ” The Live Music Show Capital of the World”

Page 10: Branson Creek CBRE Branson Creek 3-11-2011.pdf

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Branson Airport

: : P R O P E R T Y S U M M A R Y

P R O P E R T Y S U M M A R Y

The new Branson Airport is conveniently located just off the U.S. 65. It is approximately three miles from the Branson Creek site and eight miles south of the center of Branson and has replaced prior commercial airport service which was located 50 miles away in Springfi eld. In addition to the improved accessibility, convenience and cost savings experienced by residents, tourists and corporate visitors, the economic impact of the new airport for Branson and the region is expected to be considerable. It will provide approximately $209 million in new revenues to the Branson Lakes regional economy, approximately $77.5 million in payroll earnings and will support approximately 3,299 jobs. There are plans for spillover development in the construction of an 8,000-seat arena and 15,000-seat amphitheater near the airport.

Branson Airport is serviced by AirTran Airways, with direct fl ights from Atlanta and ser-vice to over 50 destinations; Frontier Airlines, with daily service to Denver and service to Milwaukee; and Branson Air Express with non-stop fl ights to Austin and Dallas. AirTran has recently added year round fi ghts from Branson to Baltimore, Chicago-Midway and Houston-Hobby.

The new 58,000 square foot terminal, located on 922 acres with an ultimate capacity of 1.4 million passengers and further expansion capability, includes a General Aviation facility with hangars for based aircraft as well an executive terminal with pilot lounges, a conference room and wi-fi access throughout. Complete auto rental and ground trans-portation services are offered. The General Store and a Famous Dave’s Barbecue are located in the terminal, described by one user as “a big log cabin with several touches of country charm”.

As the fi rst privately fi nanced and operated commercial service airport in the United States, Branson Airport enjoys far more operational fl exibility than public use airports which are hindered by the municipal process. Bypassing the usual intense competition between airlines, the airport can offer exclusive development rights to airlines. It is able to develop unconventional revenue streams and provide cost effective service to custom-ers by striking unique deals with vendors and concessionaires. In a “pay-for-perfor-mance” agreement with the airport, the City of Branson will pay a subsidy of $8.24 to Branson Airport for each arriving visitor with an annual cap of $2 million.

Branson Airport offers service to over 50 destinations

Page 11: Branson Creek CBRE Branson Creek 3-11-2011.pdf

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: : M A R K E T A R E ACompetitive OverviewThe Communities at Branson Creek is an excellent location for a senior living development. A search of the surrounding market reveals strong demand for a new senior living community to service Branson and this new master planned community.

Within 25 miles of the subject, there is only one competitive assisted living project living community called Culpepper Place at Branson Meadow. The larger projects are all stand-alone skilled nursing facilities (SNF) and the other assisted living (AL) communities are too small to be competitive.

Culpepper Place has 104 beds ranging in size from 350 square feet to 650 square feet and is currently 100% occupied with a waiting list. Rates at Culpepper Place start at the following:

We have provided a map of the communities which serve seniors that are located within a 15 mile radius, the majority of which we would not consider to be competitive to a new senior living community located at The Communities at Branson Creek.

Senior Housing Communities within 15 Miles of Branson Creek

Unit Type Monthly Rate

Studio $2,700

One Bedroom $3,200

Two Bedroom $3,400

0 mi 2 4 6 8 10 12

M A R K E T A R E A

Page 12: Branson Creek CBRE Branson Creek 3-11-2011.pdf

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Table Rock LakeBull Shoals

Lake

10 Miles 10 Miles 10 Miles

5 Miles 5 Miles 5 Miles

20 Miles 20 Miles 20 Miles

2010 Average Household Incomeestimated by block group

$100,000 or more$85,000 to $100,000$70,000 to $85,000$55,000 to $70,000

less than $55,000

7Miles

KM 10

• There are 1,533 income qualifi ed adult children in a ten mile market whose incomes are $75,000+

• There are 528 seniors ages 75+ within ten miles of the site with incomes over $50,000

• Approximately 26% of the adult children (potential caregiv-ers) age 45 to 54, within a ten mile radius, have average incomes of $75,000 or higher – approximately 826 people

• The 2015 estimated population over 65 years old within a ten mile radius is 9,024 (19% of the population)

• The 2010 average household income within a ten mile radius is $51,058

• 2010 estimated average housing value within a ten mile radius is $155,198

• The population within ten mile of the site is expected to grow by 8.87% from 2010 to 2015

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: : M A R K E T A R E A

Demographic Map Demographic Highlights

Average HH Income Ages 65 & Over

5 Miles $49,385 3,549

10 Miles $52,196 8,658

20 Miles $52,084 16,134

M A R K E T A R E A

Page 13: Branson Creek CBRE Branson Creek 3-11-2011.pdf

Branson Landing features over 100 retail shops, restaurants, luxury lodging and entertainment

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: : A R E A O V E R V I E W

Branson OverviewBranson, MO is a city in southwestern Missouri, in Taney County, 35 miles south of Springfi eld, Missouri and 173 miles north of Little Rock, Arkansas. It is located within the heart of the Ozark Mountains and is surrounded by three lakes. The Branson Micropolitan Statistical Area embraces Stone and Taney counties, which had an estimated population of 79,447 in 2009. The 2011 population of Branson is approximately 7,651.

Branson is an entertainment capital that caters to families and features an array of live theaters, attractions and active recreational pursuits. Its historic downtown, with car traffi c of 7,000 daily, makes its Main Street, Route 76, also known as, Country Music Boulevard, one of the busiest in America. A variety of about 130 unique businesses offering a unique combination of shops are situated on this street.

The scenic natural beauty of the Branson area, the theaters with their line-up of major recording artists, as well as its focus on family oriented entertainment have attracted abundant development to the area. Branson Landing, opened in 2006, is a $420 million, 95-acre development along Lake Taneycomo waterfront which blends over 100 retail shops with dining, luxury lodging, river walk, town square, marinas, and nightlife into a dynamic, waterfront setting. The Branson Convention Center (2007), operated by the Hilton, is situated between the Landing and Historic Downtown Branson. In spite of its small population, Branson has more than 268 restaurants, fi ve shopping centers (three outlet centers, one mall, and one lake front, lifestyle retail center) as well as numerous big-name retailers like Wal-Mart, Home Depot, Target, Kohl’s and more.

TransportationU.S. Highway 65, a north-south highway, is the main route through Branson. State Route 76 runs east/west to Branson, before turning south towards Branson West.

Branson is serviced by the Branson Airport, located less than 10 miles from downtown Branson, with daily service from Branson Airport to more than 60 destinations including Mexico and Costa Rica. As the only privately owned, privately operated commercial service airport in the United States, Branson Airport is served by AirTran, Frontier Airlines and Branson AirExpress, the latter of which offers fl ights to and from the major metropolitan hubs in Tennessee, Mississippi, Louisiana, Iowa, and Texas.

Arts and AttractionsWith more than 50 theaters, more than 100 shows, and approximately 11,000 more theater seats than those on Broadway, Branson is one of the live show capitals of the world. They offer a variety of entertainment options - magicians for the family, country music legends, rock n’ roll, gospel, musical theater, comedy and dinner shows, from intimate performances to major world-class productions and well-known performers that play limited engagements.

A R E A O V E R V I E W

Page 14: Branson Creek CBRE Branson Creek 3-11-2011.pdf

Silver Dollar City is one of many local attractions in Branson14

: : A R E A O V E R V I E W

Local attractions include Silver Dollar City, an 1890’s Ozarks village inhabited by a colony of unique crafters and artists, features rides and amusements, live comedies, many dining places, dozens of country musicians and an evening music show; White Water, Waltzing Waters, Ride The Ducks, The Haunted House and Monster Asylum, Butterfl y Palace & Rainforest Adventure and Predator World. Ripley’s Odditorium in Branson is housed in a building that has been made to look as if it is cracked wide open by an earthquake or other disaster.

EconomyBranson has become a focus of international attention as both a major development area and an entertainment and tourism Mecca. It serves as the job, service and shopping center for the Taney and Stone county areas with approximately 7.9 million tourist visitors annually who pump almost 2 billion dollars annually into the local economy. Tourism and related businesses are the major industries in Branson and either employ or effect the employment of almost everyone who works there. Accommodation and food services, the arts, entertainment, and recreation, are major business segments. Health care and educational services are also large contributors to the economy. The largest employer in Branson is Herschend Family Entertainment (±2,300), while the largest employers in nearby Springfi eld are St John’s Regional Health Center, Cox Medical Center South, SW Missouri State University, City of Springfi eld, Oxford Healthcare, and Chase Bank Card Services.

HealthcareState-of-the-art healthcare is available at the Skaggs Regional Medical center, a multi-award winning, short term, acute care, 177-bed hospital located two miles from downtown Branson. The campus includes Skaggs Hospital, Skaggs Outpatient Center, a helicopter landing pad for air ambulance service and two medical offi ce plazas. Skaggs RMC has received the distinguished Hospital Award for Clinical Excellence in 2009 through 2011, the Emergency Medicine Excellence Award in 2010, the Women’s Health Excellence Award in 2010/2011 and the Pulmonary Care Excellence Award in 2010/2011. It is also the recipient of the HealthGrades Critical Care Excellence Award™ 2011.

Other hospitals/medical centers near Branson are the Carroll Regional Medical Center (about 27 miles; Berryville, AR), the North Arkansas Medical Center (about 30 miles; Harrison, AR) and the Eureka Spring Hospital (about 33 miles; Eureka Springs, AR)

EducationThere are several, highly ranked, post-secondary institutions within approximately seventy miles of Branson. Southwest Missouri State University (about 37 miles; full-time enrollment: 14,680) was ranked 52nd in the Midwest for 2011 by U.S. News and World Report in the category of regional universities.

Drury University (about 40 miles, full-time enrollment: 3,125) has been at or near the top of the “Great Schools at Great Prices” list for the Midwest since 1999, including fi ve years in the #1 slot. US News and World Report names Drury University as one of Best Regional Universities (Midwest) and Drury is on Time Magazine’s Honorable Mention for Best Liberal Arts School in the Nation.

The University of Arkansas (about 70 miles, full-time enrollment: 13,324) was ranked in the top tier among the best national universities in the 2010 edition of America’s Best Colleges, (USN&WR). The University of Arkansas is listed “among the most affordable of major research universities” according to The Princeton Review and among “America’s 100 Best College Buys” as rated by Institutional Research and Evaluation, Inc.

A R E A O V E R V I E W

Page 15: Branson Creek CBRE Branson Creek 3-11-2011.pdf

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Parks And AttractionsIn addition to its nine local parks, the Branson area features lake and mountain scenery, wilderness areas and picturesque glades, creeks and streams. It is home to three scenic lakes, Table Rock, Taneycomo and Bull Shoals, which are renowned for fi shing and also offer boating, parasailing, jet skiing, scuba diving and swimming.

Branson’s 42-acre state-of-the-art sports and recreation center complex in Branson Hills combines fi tness, recreation, a 12,000 square foot aquatics park and organized athletics at one location. The completed 44,000 square foot recreation center features two gymnasiums, a fi tness center and indoor track. Other outdoor facilities include four baseball fi elds in a cloverleaf design with a concession building, soccer fi elds, pavilions, a two-mile walking trail, and a playground.

The Lakeside Forest Wilderness Area overlooking Lake Taneycomo features 130 acres of wooded and rugged hill country scenic views with woodland trails, a waterfall and a cave in the heart of Branson. A two-mile stretch of the wilderness area is along the Lake Taneycomo shoreline.

Ten golf courses are currently open in the Branson/Lakes Area with a choice of courses within just a few miles of each other.

SportsHammons Field, a 6,750-seat stadium, is home to the Springfi eld Cardinals, a Class Double-A team affi liated with the St. Louis Cardinals.

Missouri State University has one of fi ve NCAA Division I athletic programs in Missouri and features 10 men’s and 11 women’s sports in its 21-sport intercollegiate program.

Springfi eld is home to an annual PGA Tour-sponsored event, the Ozarks Open at Highland Springs Country Club featuring some of the up-and-coming PGA Tour players competing for a guaranteed purse of $150,000.

In tennis, the city serves as home to World TeamTennis - Springfi eld Lasers, and has served as host city for the FedCup, Missouri Valley Championships, the Volvo Regional and the USTA-sanctioned Pro Classic. The Park Board has also been responsible for attaining several ASA national softball tournaments, and continues to be successful in bringing future national, regional and state events to the city.

Murder Rock Golf and Country ClubA R E A O V E R V I E W