Here’s what we MCA homeowners get for $600,000. And remember this is for access to OUR $10 million of assets that we lease to TMCC for $10/year. (yes, there are operating costs but TMCC generated $5.1 million of revenue in 2021 off our asset for $10!).
Note that this access is only available to homeowners or their full-year renters.
If there are any inaccuracies in this post, let us know us at ForTheMeadows@SarasotaMeadows.com and we’ll fix it.
Let’s break it down, in order of likely value to MCA homeowners. Your order may be different but the conclusion will be the same. If we’ve got anything wrong, please email us at ForTheMeadows@SarasotaMeadows.com and we’ll fix it.
UPDATE: The Pickleball courts were built and always owned by MCA, not TMCC. TMCC is now managing reservations via an app that costs $1,000/yr. It’s “likely value” has been downgraded appropriately.
- Access to the MCA’s new $4 million Fitness facility (added to the TMCC lease for free). TMCC members have extra off-hours access. We don’t know how much use MCA homeowners make of this facility. Input from readers would be helpful on this. Rating: Great if you use it.
- Access to MCA’s Pickleball courts. These courts were built and owned by MCA. They were added to the TMCC lease for free. These courts seem busy and access seems fair. It is a growing sport. Courts were recently resurfaced (probably by MCA homeowners). The MCA is working on building 2 more courts. MCA homeowners will of course pay for the new courts. TMCC will of course control the courts as part of the lease agreement. Rating: Great if you use it.
- Access to aquafit classes 3 times a week (25 person limit). When the weather is better this class is usually full with a waiting list. It is held back-to-back with TMCC-only classes that are not close to full, but MCA homeowners can’t fill empty spots in it. Rating: Great if you use it, Bad if you are on the waiting list while there are spots open in the TMCC-only class.
- Access to fitness classes 2 times a week (25 person limit). Usually full with a waiting list. Probably also TMCC-only classes (Input from readers would be appreciated). Rating: Great if you use it, Bad if you are on the waiting list while there are spots open in the TMCC-only class.
- Access to the Jr. Olympic pool and hot tub. Almost everyone in the Meadows already has access to a neighborhood or private pool. Rating: Great if you want to do laps. Otherwise, meh.
- Regular public access to the Highlands and Groves golf courses (no tee time priority) but with 25% discount on green fees (was only 10% until recently). That is worth something if you’re a golfer. (UPDATE: The public can purchase a Players Card for $200 that gives the same discount for them and their group). How much does that discount add up to MCA-wide? In the 2023 MCA AGM the Board highlighted that MCA members took advantage of that 783 time in January 2023. If we generously estimate they saved $20 each, that would be $15,660 of savings. That is a peak month, but multiply that by 4 months and you are up to $62,640. The other half of that equation is that TMCC receives 3 times that amount ($187,920) in green fees that they might not have otherwise received. Rating: Good if you use it, probably just as good for TMCC.
- Pay-as-you-go clinics and classes: golf, tennis, pickleball, most fitness. Rating: Convenient if you use it.
- Access to the Meadows/Members Golf Course one specific afternoon per month: the 3rd Saturday after noon for $85. If that sounds comically restrictive because it is. Rating: Bad.
- Access to Fountain View Lounge from April 19 to October 31 and Tuesday burger night. Take-out Wed/Thurs/Fri. This would be a convenient dining option but that is its only advantage over all the other restaurants around. Rating: Meh.
- Public access to Center Court Lounge. You know who has the same access as MCA homeowners? THE PUBLIC. MCA lists this as a FEATURE but it is exactly the same access as anyone else in the world has. Rating: MCA grasping at straws for benefits.
In its Q&A the MCA sells Renaissance Access using the “pennies a day” approach. If you divide any cost by enough things it seems like nothing. That misses the point:
It isn’t worth $600,000 for access to these facilities (which MCA homeowners already own).
Here’s another way to look at it
$600,000 from MCA homeowners represents 10.5% of TMCC’s 2021 fee revenues. MCA homeowners definitely aren’t getting 10.5% of the use of all the facilities. Not even close.
This doesn’t even take into account that MCA buying TMCC’s assets saves TMCC more than $800,000 per year which is 10.8% of TMCC’s 2021 operating expenses.
Without these subsidies from MCA homeowners, TMCC would have reported a loss in the neighborhood of $1.2 million, just as they did before MCA bailed them out.
The $600,000 payment is a huge subsidy to TMCC and its private club members, with minimal benefit to MCA homeowners.
Update: If you needed any further evidence that the RAP payment is a subsidy, check out how little access MCA homeowners got when RAP was announced in the Dec 2019 Meadoword (pg 6) without any mention of the cost.
MCA HOMEOWNERS SUBSIDIZING A PRIVATE CLUB ISN’T RIGHT
SOMETHING HAS TO CHANGE
Your comments are welcome below
Contact us at ForTheMeadows@SarasotaMeadows.com
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