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Show Volume XX Issue VIII The Ogden Valley news Page 9 May 15, 2012 From the Past - Patio Springs As these two articles from the past indicate, Patio Springs, now Wolf Creek, has had a long history of financial difficulty. A once pristine farming community, many speculators and business men, and women, taken by Ogden Valley’s beauty and charm, have set and sunk their hearts, and wallets, into efforts to capitalize on and exploit her natural beauty, only to find a pot of fool’s gold at the end of the elusive rainbow she projects. Bank Foreclosing on Wolf Creek Resort Demise of Once Prosperous 1979 and today have not been officially disclosed, By Cuff Thompson but both are reportedly in the $10 million range. Patio Springs Sad Indeed Note: This article ran in the StandardIn 1981, the bank sold the complex to Note: This commentary about today’s Wolf Security [Bank] was temporarily prevented from foreclosing. During this time, Apostle and Johanson tried to sell the club, but were unsuccessful. . . . The owners . . . lacked substantial capital with which to start an operation of that size, Berrett said, and he confided that the bank is looking for a “financial giant” to buy the course. “We’re talking to two or three companies that are interested, and we’re asking The demise of Patio Springs from a pros- $8 million for the whole package. It will cost perous golf and country club to a jumbled mesh almost $2 million to add a sewer system alone.” of financial uncertainty Berrett said Apostle makes for a sad tale of and Johanson meant financial misjudgment, well when they purdisappointment and chased the first parcel broken dreams. of land which housed One of the most scethe swimming pool nic and testing golf layand later the golf outs in the intermouncourse. “They were tain area, Patio Springs both teaching school at one time boasted a and they provided a lot proud membership and of employment to their a can’t-miss future. athletes during the sumLocated in Eden, the mer. At first, it worked facility overlooks the out well.” beautiful Ogden Valley The financial and features two dishealth of Patio was not tinctly different nineenhanced when a mashole courses that differ sive walkout occurred in outward appearance in 1975 that reduced if not in difficulty for the membership from the golfer. approximately 400 But the potential the families to a figure course had when concloser to the 265 that structed in 1963 was are there today. not realized by 1975 A friend of Johanson when the club experiand Apostle, Bob enced the first of many Woods, chief caretaker monetary difficulties of Patio Springs since that finally led to bank1966, feels the owners ruptcy filing by the two were more a victim of original owners, Chris A photo of Patio Springs swimming pool in its circumstances than bad Apostle and Norris earliest days. The “warm pool” was warmed judgment. . . . Johanson. by warm springs in the area that fed into it. Woods also said the The reasons for Today, it no longer exists, as it was filled in and two had to buy more the course’s failure are covered over several years ago. land than they really many and some are needed since the parties complex. As is the case with many large finan- they bought it from insisted that some wildercial dealings of this nature, almost all explana- ness area be included in what they were selling. tions carry a fair share of bias. In the beginning, First Security is not interested in mainPatio Springs seemed a sound investment . . . . taining ownership of Patio since it lacks a The first nine-hole golf course was constructed development company to add housing to the in 1963, with a second course added in 1968. site. But once a buyer is found for the propThe owners were to pay approximately $2,100 erty, Berrett said, better days are in store for per month to First Security Bank for the original the facility. He says simply, “Patio Springs mortgage and the first nine holes of the golf has one of the greatest potentials of any tract course, but they became delinquent in 1975, of land in the state.” . . . with other debts extending to a third party Patio is currently in an awkward position, who had sold out his portion to Johanson and Woods says, as it still honors its membership Apostle. By 1978 Patio Springs was bankrupt. yet allows the public to play after 11 a.m. The financial woes occurred after the two Greens fees are inordinately high, set at $8 for men had purchased considerable land in addi- 18 holes of play. “We’re still a private club,” tion to the golf course. In any case, they owed Woods emphasized. a lot of money by 1975, and the revenue the In light of past developments, it is difficult course brought in failed to meet the bills. to forecast a future for Patio Springs. Berrett By late 1977, the course had filed Chapter says Apostle is still trying to find a financier for 11 bankruptcy, whereby the courts allowed the operation, but that a sale to someone else . . Patio to continue operating the club, and First . is not far off. . . . Creek Resort, formerly Patio Springs, is not dated, but is believed to have been written sometime in 1982. It is an editorial by Standard-Examiner Staff member Guy Yocom. Parts of the editorial have been excluded in the interest of shortening its length for this publication. The two articles are being reprinted by permission of the Standard-Examiner. WOLF CREEK INFO cont. from page 7 Hollow. The property is zoned FR-3 (Forest 3), which is a high-density designation allowing 20 units per acre. Parcel 10 (A & B) Homesite Project planned to be built near the resort below the proposed golf practice facility. Plan consists of 54 condo units. “Phase B” was to include 29 three-story townhome units with approximately. Eden Lodge & Spa and Liberty Lodge (Condo Hotels) Eden Lodge & Liberty Lodge are two condo-hotel developments projected to be built right in the core of the resort. Eden Lodge and Spa was to be a 6,000-square-foot conference, restaurant, and spa with approximately 65 condo units with lock outs planned to be built in the Eden Lodge. The north end of Eden Lodge was to be part of a retail village with stores and approximately 25 condo units. The Eden Lodge was to be built with a developer partner with Wolf Creek Utah getting a percentage of the gross condo revenues. Liberty Lodge was planned to be built across the street from the Eden Lodge. It is an extension of Eden Lodge and it is projected to have approximately 50 condo units with multiple lock out functions in each unit. The backside of the Liberty Lodge would overlook the 11th fairway on the existing golf course. These were to also be built with a development partner with a percentage of gross revenues going to Wolf Creek Utah. Northwest Golf Development(s) - The Northwest Golf Development is a large, mixed use development on the Northwest corner of The Ogden Valley News is looking for Ogden Valley and Ogden Canyon historical biographies, stories, and photos to use in its publication. Please mail, email, or call Shanna at 745-2688 or Jeannie at 745-2879 if you have material you would like to share. Examiner on April 21, 1984. Weber County’s largest recreation/residential development is facing foreclosure for the second time in four years. A notice of default against a portion of Wolf Creek Resort (formerly Patio Springs Country Club) in the Ogden Valley was filed late Friday by First Security Bank of Utah. Additional default notices are expected to be filed over the next few weeks until the entire 12,500-acre complex near Eden comes under foreclosure proceedings by the bank, according to sources familiar with the case. . . . Friday’s action followed persistent rumors over the past several months that the project is in serious financial trouble. Unless owner John Laub can find some solution to the financial woes of his ambitious development, it will end up in a sheriff’s sale on the Weber County Courthouse steps in four to five months. That would be the second time in four years the once popular and prosperous golf and country club complex has been repossessed by First Security Bank. The bank took over the facility in 1979 after its previous owners failed to successfully reorganize under a Chapter 11 bankruptcy and defaulted on several million dollars in loans to First Security. The total amount of the loans owed the bank in Laub, a Nevada attorney/land developer who is a native of Tremonton. Laub announced he would change the name and develop the facility into “the finest complex of its kind in the state.” First Security executives refused to comment on the notice of default filed by the bank, or on plans for eventual dispositions of the property. Laub could not be reached for comment. An employee at Wolf Creek offices in the Ogden Valley said Laub had left for his home in Brigham City, but a call to his home reached only a recording stating that the number is no longer in service. The default notice filed Friday was against a piece of largely vacant land east of the main Wolf Creek facilities, which include the clubhouse, golf course and swimming pools, as well as condominium units built by Laub since he purchased the property. The notice claims a $100,000 loan made on the property to Laub and his wife Cynthia on June 27, 1983, is delinquent and that First Security intends to execute a trust deed signed at that time. . . . Although First Security executives declined to comment, it was learned that the bank is preparing default notices on a number of loans that will bring the entire 12,500-acre complex under foreclosure. The bank had intended to file all of the notices at the same time. . . . From The Past . . . This photo of Patio Springs was taken around 1961. At this time there was only the “warm” pool, which no longer exists today. It was located several feet north of the current “cold” pool. To the right were the dressing rooms and a snack bar that sold hamburgers hot off the grill and other food items and snacks. the current resort property. The development is proposed to have townhomes, PRUD homes and single family homesites. A new nine-hole golf course was planned to be built between the development units. The single family homesites were planned to be built and sold by Wolf Creek Utah. The PRUD homes and the townhomes were planned to be built with a development partner and Wolf Creek will get a percentage of revenues. Wolf Mountain Ski Resort Developments - There are three Wolf Mountain Ski Resort development projects planned. The first, Mountain Cabin ski in/ski out 16-unit project in the upper Northwest corner of the resort property. Plan was to construct with a development partner where Wolf Creek Utah received a percentage of the gross sales price of each sale as compensation for the land. The second mountain development consists of seven luxury mountain homesites in the heavy wooded area on the north end of the ski resort property. The third mountain development is a condo-hotel unit planned near the bottom of the ski resort with approximately 375 condo ski in/ski out units. This project was planned to be built with a developer or hotel partner with Wolf Creek Utah receiving a percentage of the gross revenue sales per unit. The project could also be sold to an upscale hotel group. Trailhead Homesites - Ten homesites were planned to be developed on the Northeast portion of the resort property near the start of a large trail that winds above the east side of the resort to North Fork Canyon to the south. Jeffrey D. Shepherd DMD, MSD Specialist in Orthodontics shepherdorthodontics Fast Treatment Times • Children and Adults • Flexible Payment Options Call to schedule your complimentary exam today! Eden Professional Center 2580 North Highway 162, #A EDEN 801.745.2519 South Pointe Plaza 5300 South Adams Ave, #9 Saint Joseph Catholic Elementary, Middle School, and High School Providing a challenging, college-focused education in the proven tradition of Catholic schools, for the families of the Ogden Valley. We want to teach your children! For information on our program, financial assistance, tours, or application, please call Daniela Quintana at 801-814-8192 or 801-393-6051. 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