Chattanooga businessman Henry Luken said his crews will begin reclamation work at Waterville Golf Course in Cleveland immediately to return the 18-hole course to a playable condition.
The Cleveland City Council picked his proposal to lease and operate the golf course over two other offers. He will pay the city $36,000 annually for the first five years with an option to lease for an additional five years.
The Luken Group already operates five golf courses in the Chattanooga area - Valleybrook, Champions Club, Battlefield, Eagle Bluff and Montlake.
Membership benefits at Waterville include all the Luken Group golf courses.
Other proposals were offered by James E. Leeth, Jr., owner of the Lupton City Golf Club, and Cleveland businesswoman Sonya Merkel.
In a related transaction, the city sold nine acres of the course that surrounds Waterville Spring to Cleveland Utilities for $46,000. The utility leashed the property back to the city for one dollar annually. The nine acres then were included in the property leased to Mr. Luken.
Ken Webb, president and CEO of Cleveland Utilities, said the transaction was necessary to protect the spring, which is a major water source for the city. Mr. Luken said he understood the reason and agreed.