(Facebook photo/Wolf Creek Golf Resort)

(Facebook photo/Wolf Creek Golf Resort)

RV lease holders react after Wolf Creek Golf Resort announces receivership

Golf resort is located in Morningside, Alta.

Long-term RV lease site holders are concerned about their investments after Wolf Creek Golf Resort announced in a letter to members on Oct. 18 that it’s going into a receivership.

A receivership is a debt solution that allows a secured creditor to recover outstanding amounts when a debtor defaults on loan payments.

In the letter, Wolf Creek president Ryan Vold states he has been trying to find an investor or buyer for the resort for “some time.”

“On several occasions I felt I had put something together but unfortunately they all fell through,” he said.

“Our mortgage company has lost faith in me finding a buyer so they now are taking it into their hands.”

As of the end of the golf season, the resort was put into a receivership via a court order.

The mortgage company, through the receiver MNP, will be putting the course up for sale by tender.

“The plan would be to have a new owner by spring to take over the operation and resume business as a golf course.”

The receivership just affects the golf course and does not include the villages, the letter states.

Vold has been asked to stay on during the sale and transition to a new owner.

Vold said in the letter the future of the course will all depend on the new owners, that he or the receiver “may not be able to give you the answers you want to hear right now.

“I really wish I could have done this another way. That is my fault for not getting investment put together but that has proven to be a daunting task.”

The letter states the early bird payment program for 2023 golf membership is on hold. All RV park monthly charges will cease for those in the RV program. Wolf Creek would continue to keep trailers and sites secure over the winter.

“If you want to pull your trailer out, that is your call,” he said in the letter.

“We do not have a crystal ball on how this will play out. All we can do is try to make this as seamless as possible.”

Vold declined to comment when contacted by Ponoka News.

A group of RV lease holders based in Edmonton have formed a committee to represent their concerns.

“In his letter to inform the community, Ryan Vold suggested many of us knew he was seeking a buyer,” reads a prepared statement from the group.

The group alleges RV site tours and deposits were still being done and taken into October, so the news came “as a complete surprise to 41 families who have supported Wolf Creek with long term RV sites and lease agreements.”

They also contest that while all RV park monthly charges have ceased, those charges refer to utilities only.

“Families were required to invest the full lease amount up front and received only two or three years of lease time out of a 15 to 35 year lease agreement,” reads the statement.

“For many campers, this was a retirement plan, involving a $35,000 investment, not including any RV purchases or enhancements made to each RV site.

“These enhancements would not have taken place if campers knew the resort was for sale. We are now left without a plan and the funds to create one.”

The group stated they wonder where all the funds from RV leases went, but remain hopeful that any future purchase or bids submitted to the receiver will honour the lease agreements.

Located at the Morningside exit off of Highway 2A, the Wolf Creek Golf Resort has two 18-hole courses: the Old Course and the Links Course, both original Rod Whitman designs.

The resort has been owned and operated by the Vold family since 1982.

“A fixture for 13 years on the Canadian Tour, Wolf Creek hosted the Alberta Open, receiving world wide publicity and exposure as one of the world’s best courses by young touring professionals,” states Wolf Creek’s website.

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