New $37m Bayonne golf club.Investment fund CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Tom Darden considers the planned Bayonne Golf Club a good investment on two out of three fronts. The club, built partially on the site of a former landfill on a Hudson River Hudson River River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629. peninsula A peninsula is a piece of land that is bordered on three sides by water. A peninsula can also be a headland, cape, island promontory, bill, point, or spit.[1] Europe
It's a good addition to the community, too, Darden said. But in terms of generating a good return for investors, Darden said, his company will have to be satisfied with another project. "That site has ended up costing hugely more than we thought," Darden said. Darden said his company, Cherokee Investment partners, has invested $37 million on the project--$18 million on purchasing the site and $19 million on remediation work "In an ideal world, our investors would be happy we'd generate 20 percent," Darden said. But that doesn't appear likely, he added. "We'll have to refill refill noun A second allotment of a prescription agent obtained from a pharmacy, which is allowed by the original prescription verb Pharmacology To obtain more of a particular drug, after the initially prescribed amount of the agent has been used or the bucket A reserved amount of memory that holds a single item or multiple items of data. Bucket is somewhat synonymous to "buffer," although buffers are usually memory locations for incoming data records, while buckets tend to be smaller holding areas for calculations. See hash table, buffer and variable. from some other deals." Cherokee, based in several locations, including Elizabeth, N.J., is a longtime long·time adj. Having existed or persisted for a long time: a longtime friend; a longtime resident of Detroit. longtime Adjective bankroller of "brownfields," environmentally risky properties slated for conversion for useful purposes. Darden predicted he will receive an approximate 50 percent return on his investment through a 15-year New Jersey property tax break, allowed for redeveloped sites, and a state law that allows him to be reimbursed up to 75 percent of his cleanup costs through tax revenue generated by the club. Any other returns will have to be generated by green fees, tournament fees and membership dues--which reportedly start at about $100,000. Another golf club, which like Bayonne will feature a course with Scottish-style links, is also under construction near the Meadowlands in New Jersey, Darden said. Cherokee is also funding that project. |
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