1. The transfer fee drops from 50% to 25% for every member. On a $100,000 sale, about the average this year, the seller keeps $75,000 instead of $50,000. The $200 in capital dues below replaces this income with a steady amount the Club can budget on, instead of depending on how many memberships sell each year.
2. The Club applies $972,000 of its reserve to the loan for every member. This lowers each member's share of the debt from $20,742 to $18,313, whether you pay off now or over time.
3. Each member then chooses how to handle their share:
| Option A: Pay now | Option B: Pay over time | |
|---|---|---|
| One-time payment | $16,000 | $0 |
| Monthly dues | $935 (no change) | $1,135 (up $200) |
| Your share of the Club's debt | Paid off | Paid through dues at $205 a month, paid off about 1½ years early |
| What you'll pay toward the debt in total | $16,000 | $22,227 |
Paying now saves about $6,227, because you skip the interest and receive the early-payoff discount.
In the first half of 2026 the Club completed a reserve study: a review of all 660 major assets the Club owns, from roofs and HVAC to paving, kitchen equipment and the golf course, with an estimate of when each will need replacing and what it will cost. Think of it like owning a home. The roof and the furnace wear out eventually, and it is far easier to plan for them than to be surprised.
Today the Club falls short of its upkeep need even in a good sales year, and has nothing set aside for the improvements members have asked for. The proposal closes that gap with steady income the Club can plan on. The numbers are in the FAQ under How big is the Club's capital shortfall today?
Two things, as one package: the transfer fee drops from 50% to 25%, and every member chooses how to handle their share of the Club's debt. Pay $16,000 now and keep dues at $935, or pay nothing now and dues go up $200 to $1,135.
| Pay now | Pay over time | |
|---|---|---|
| Paid today | $16,000 | $0 |
| Paid through dues over about 9 years ($205 × 108 months) | $0 | $22,227 |
| Total | $16,000 | $22,227 |
Paying now saves about $6,227.
The loan balance is about $9.5 million with 10 years and 9 months left. Divided among 458 members, each member's share is about $20,742. After the Club applies $972,000 of its reserve to the loan, each member's share drops to about $18,313.
Because the bank pays the Club about $1.2 million for paying the loan off early (the "swap" value). A member who pays off collects their share of that discount, about $2,313. $18,313 − $2,313 = $16,000.
The $972,000 is applied to the loan for everyone before anyone chooses. Members who pay over time see their share of the debt drop from $20,742 to $18,313. They keep paying $205 a month, and because their share is smaller, the extra goes toward principal and their debt is paid off in about 9 years instead of 10 years 9 months. The reserve helps every member equally, whichever option they choose.
Because you owe less than you did before. Today your share of the loan is about $20,742, and $205 a month pays it off in 10 years and 9 months. The Club's $972,000 reserve contribution lowers your share to about $18,313. You keep paying the same $205 against a smaller balance, so it is gone sooner, in about 9 years instead of 10 years 9 months.
Think of it like a car loan where someone pays $2,500 toward your balance. If you keep making the same monthly payment, you finish early.
Interest is charged on what you still owe. A smaller balance means less interest every month, and since you keep paying $205, more of each payment goes to principal instead of interest. Over the life of the loan, you pay about $22,227 instead of $26,445, a savings of about $4,200, without changing your monthly payment at all.
Any future Club money used to reduce the debt will benefit every member equally. If you have already paid off your share, you will receive a matching credit, so you are never worse off for having paid early. This commitment is part of the proposal.
Two reasons. At 50%, Riverside's fee is double what comparable clubs charge, and members have told us it discourages sales and feels unfair. Lowering it to 25% puts more of the sale price in the selling member's pocket.
Just as important, transfer fee income is unreliable. The Club doesn't know how many memberships will sell in a given year or what they'll sell for, so it's a poor foundation for a capital budget. Steady monthly capital dues are something the Club can plan around.
Memberships sold for about $100,000 on average this year. At today's 50% fee, the seller keeps $50,000. At 25%, the seller would keep $75,000, about $25,000 more.
Of your $935 in monthly dues, $205 goes to the bank for the Club's loan and only $33 goes into the capital account, which pays for roofs, HVAC, paving, the golf course, and improvements. The rest runs the Club.
The reserve study estimates the Club needs about $1.44 million a year on average over the next 20 years, just for upkeep. That is before any improvements to the golf course, practice facility, or clubhouse.
| Today | Under the proposal | |
|---|---|---|
| Capital dues | $181,000 | $1,281,000 |
| Transfer fees (17–22 sales a year at $100,000) | $850,000–$1,100,000 | $425,000–$550,000 |
| Total for capital | $1.03M–$1.28M | $1.70M–$1.83M |
| Upkeep need (reserve study) | $1.44M | $1.44M |
| Left for improvements | $160,000–$410,000 short | $260,000–$390,000 available |
| How much depends on membership sales | About 85% | About 30% |
Today the Club falls short of its upkeep need even in a good sales year, and has nothing set aside for improvements. The proposal closes that gap with steady income the Club can plan on.
Three reasons. First, lowering the transfer fee reduces the Club's income by roughly $425,000 to $550,000 a year, depending on how many memberships sell, and that money needs to be replaced. Second, $33 a month per member is not enough to take care of what we have. Third, the $200 is predictable. Unlike transfer fees, it comes in every month regardless of how many memberships sell. The $200 goes entirely to the capital account.
Two reasons. First, even at 50%, the Club doesn't have enough money. Today's capital income falls $160,000 to $410,000 a year short of maintenance, with nothing left for improvements.
Second, the Club can't budget on transfer fees. In a typical year, somewhere between 17 and 22 memberships sell, at prices that move with the market. That swing alone means transfer fee income can vary by $250,000 from one year to the next, and a roof or an irrigation pump doesn't wait for a membership to sell. Moving capital funding from transfer fees to monthly dues gives the Club a reliable income it can plan with, and the lower fee gives members more when they sell.
Because the $205 that was going to the bank is replaced by the $200 capital payment. The money you were sending to the bank now stays at the Club, working on the Club.
No. The Club has about $2.2 million in its capital account. $972,000 goes toward the loan, and about $1.2 million stays in the account as a cushion. The $200 a month then rebuilds the account at about $1.28 million a year.
Yes. Voting closes December 15, 2026. If the proposal passes, members who choose to pay the $16,000 will do so in January 2027, and the Club will make one payment to the bank on one date. Members who choose to pay over time don’t need to do anything; the $200 capital dues begin with the January billing.
The Club pays down the loan by that amount and collects the matching share of the swap value. The loan keeps the same interest rate. Members who haven't paid off keep paying $205 a month, and because the Club's reserve lowered their share, their debt is paid off about a year and a half early.
Your membership sells with no debt payment attached. A membership that hasn't been paid off sells with the $205 still part of its dues, and the buyer takes it over.
Only if every member pays off, and we don't expect that. But even with partial participation, the Club pays down a large part of the loan at once, cuts its interest costs, and collects a matching share of the swap value. That significantly deleverages the Club and puts it in a much stronger financial position going forward. The remaining loan is paid down in about 9 years by the members who chose to pay over time.
Because the transfer fee cut costs the Club money, and the capital dues replace it. Approving one without the other would leave the Club worse off. They only work together.
Nothing changes. The transfer fee stays at 50%, dues stay at $935, $205 keeps going to the bank, and $33 goes to capital. The capital shortfall described above stays as it is.