Twin Lakes: Preserve a community asset | Federal Way letters

Helping the Twin Lakes golf course get through its cash flow problem is a good investment.

The proposed agreement between homeowners and the golf club calls for association dues to increase $25 a month for up to 15 years. This amounts to $300 a year or $4,500 total. If the golf course fails financially, it is likely that the highest bidder for the property would be a land developer. The resulting several hundred new homes and businesses replacing our unique open spaces would certainly reduce the value of our property. It is probably that values would decrease by at least 10 percent. Using the 10 percent reduction, and using $300,000 as a typical home value, results in a loss of $30,000. Comparing this to the $4,500 cost indicates that it makes financial sense to pass the agreement.

My wife and I have lived in Twin Lakes for 37 years. Our three sons and two daughters all graduated from Decatur High School. We have never belonged to the golf club. We have, however, enjoyed the club facilities. Our uses have included weddings, wedding receptions, birthday parties, anniversary parties, funeral remembrances, dinners, lunches, card games and socializing with neighbors. The facilities are very nice and are a community asset worth saving.

We intend to vote yes to protect our property value and to preserve this unique community asset.

James Utz, Twin Lakes