A U.S. trustee has been appointed to manage the Chapter 7 bankruptcy liquidation of assets at Bloomington’s Eagle Pointe Golf Resort.
Jeff Norris is the president of the Pointe Services Association. In a Facebook message, he said the trustee has formally directed the association to secure the property and winterize the course.
The association also was directed to change all the locks throughout the clubhouse, pro shop and other Eagle Pointe facilities.
Pointe Properties, the company that operated the Golf Resort filed for bankruptcy at the beginning of September. Doug Thomas owns Pointe Properties.
According to court documents, Pointe Properties owes at least $465,000 to creditors, not including its mortgage, as of early September.
Norris says the PSA will be paid for its work through the bankruptcy, and from the homeowners association standpoint it’s “business as usual” and he’s excited about Eagle Pointe’s future.
Susan Slaven, the owner broker of Eagle Pointe reality, says she’s sold 60 homes in the area this year and sees the transition as good news for homeowners.
“As far as re-sale values and the homes appreciation there is absolutely nothing that is hurting value of homes,” Slaven says.
She says what sets the neighborhood apart is they have two associations: a Homeowner Association and the Pointe Services Association. She says the PSA is considering purchasing the golf course.
“We are so lucky that we have that secondary association, PSA, because they actually have reserved funds and they’re there for these emergency situations that’s why we’re able to be put in this position where we could own or co-own this resort,” Slaven says.