The City of Fernandina Beach will spend $152,564 more to finance the purchase of 80 new golf carts for five years than it would cost to buy them outright.
According to city documents, EZGo/Elite quoted the City Municipal Golf Course a price of 682,064 to buy the golf carts outright along with a maintenance hauler. The company also said a capital lease for the same golf carts and hauler over five years would cost $834, 628. The lease/buy option will add about $14,000 per month in expense for 60 months to the golf course operations.
The golf course will offset some of the expense by selling its gas powered golf cart fleet. The commission meeting summary states the City received a proposal from Revel Golf Cars to purchase the existing inventory of eighty carts for a minimum
of $2,400.00 per cart for a total price of $192,000.00, depending on when the sale can occur, this will help offset the
purchase of the new carts.
The City golf course does not break even and receives money from the city's wastewater account to help pay its bills.