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Cook County approves $200,000 bridge from reserves to secure sale of Superior National golf course
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Summary
The Cook County Board approved a $200,000 bridge loan from county reserves to cover a funding gap and allow the sale of Superior National golf course to proceed, after staff described offers, repair estimates and options for closing.
The Cook County Board of Commissioners voted unanimously Feb. 24 to authorize a $200,000 bridge from county reserves to help close the sale of Superior National golf course near Lutzen.
Administrator Kristen Treble and Economic Development Authority staff told commissioners the EDA received three offers after a marketing effort and has a signed letter of intent with Brady Hatcher to buy the property for $1,850,000. Staff said a 2024 operations and capital study showed five strategic options — including transfer to county ownership or sale — and that projected five‑year capital needs and labor costs made continued county operation impractical without significant new funding.
The EDA presented four options to close an identified cash‑flow gap: renegotiating with the buyer (staff advised against this because it risked lowering the price or losing the buyer), attempting to use a revolving loan fund (statute prevents EDA/HRA access), reallocating about $100,000 of unencumbered Small Business Development grant cycles, or structuring a county bridge loan secured by an outstanding Gunflint View receivable due between Sept. 2026 and Sept. 2027. Staff recommended the bridge loan as the most viable path to execute a purchase agreement and reach closing.
Commissioners pressed staff on details. Several asked for clarification about the proposed $500,000 escrow to fund irrigation and septic work, which staff described as a conservative figure intended to cover estimated costs with a margin. Commissioners also pressed for written loan terms drafted by the county attorney and asked how prior IRRRB (Iron Range Resources and Rehabilitation Board) grants for irrigation had been spent. EDA and a former board member described a proposed interconnection to the Lutzen ski‑area water district to replace an inefficient lake pump; staff said the irrigation estimate included piping and interconnect work.
Commissioner Sullivan moved to use $200,000 from county reserves to bridge the shortfall; Commissioner Mills supported the motion and commissioners agreed the county attorney should draft clear, executable loan terms and a final loan agreement for board review. The motion passed on a unanimous voice vote.
What happens next: staff said they will finalize the financial structure and provide a purchase agreement conditioned on those terms, complete the 90‑day notice and right‑of‑first‑refusal process with the Nelson family, and move to closing once the escrow and permitting requirements are satisfied. The board also asked that any proposed contract be returned for review before execution.
Authorities and sources in the meeting noted only what was stated by staff and speakers; no formal loan document was presented at the time of the vote.
