Bright’s Creek is back in the hands of owners Bill Amick and Jim Roquemore after the two said the most recent owners did not fulfill their commitment.

Protex Investment Group, Inc., purchased Bright’s Creek last year under owners Alexander Salgado and Gabrielle Barragan.

Amick and Roquemore recently sent a letter to Bright’s Creek members, saying they had taken back ownership of the property and are in search of another buyer.

“The Great Recession and the real estate crash have caused many negative repercussions. Each of us has been hurt to some degree or another with our respective portfolios,” said Amick in the letter. “As most of you know, Jim Roquemore and I, through PAR Investments, LLC, have regained ownership of Bright’s Creek … We have continued to negotiate with prospective buyers, but as of yet, nothing has transpired. We will continue to vet any reasonable offer, which comes from a credible source.”

Amick said until a buyer is found, which could be between two and 24 months, PAR Investments LLC is in the process of hiring an independent homeowners association manager, Town & Country Property Management Inc. to manage the community.

PAR Investments LLC has also hired Love Golf Management to manage the golf operation, according to Amick’s letter.

Amick also said Bright’s Creek is hiring a broker to help find a buyer.

“Each of you deserves a developer and an operator who can increase the value of the property you own,” said Amick. “Jim and I, along with this broker, will continue to search for someone who can take Bright’s Creek to the next level. We have several serious folks looking at the project, but nothing that is close to a final deal.”
Love Golf Management will recruit a board of stakeholders consisting of 10 Bright’s Creek members and owners who will set club expectations and a dues structure that is “both fair and necessary,” Amick said.

Dues will increase for members on a temporary basis with Amick and Roquemore saying they are participating in the increases as well.

“Having a viable golf course and community is the only way to protect and increase the value of the lots and golf membership we have all invested in,” said Amick. “This will happen very quickly. Jim and I have poured millions into Bright’s Creek by subsidizing the budget. Our life savings have been depleted to a point that we can no longer carry the load alone. We either need to shut the golf course down or receive an expense offset in the way of dues or assessments. It would be unfair to shut the course down without giving our members and owners a chance to be part of the solution.”