Running Horse in Foreclosure

Is there a Fresh Start for Running Horse?

02 November 2006 - A fresh start and an influx of money is what Running Horse needs. At this point, the PGA remains confident Running Horse can host a pro event a year from now. The City of Fresno says a new buyer for Running Horse is close to reaching a deal.

Action News has learned one of the interested parties is a partner in cornerstone communities, a home-builder in San Diego.

Tom Boyajian, Fresno City Council, said, "That's the key. Getting someone that has a background in development along with golf courses and combines those two because they are behind and have been behind for a year or so."

Ctx Mortgage, a division of Centex, sent a letter to Running Horse property owners offering financing to finish their homes. Hien Nguyen, who has already filed suit against Running Horse, says he'll wait to see how the proposed sale pans out.

Running Horse managing partner Tom O'Meara refused to discuss the possible sale. But, foreclosure proceedings on Running Horse have begun and a public notice shows the property being sold "as is."

The unfinished championship golf course is supposed to host a PGA fall event next October. Tour spokesman Wayne White says "We are optimistic its all going to work out. A golf course can mature (in the amount of time left), and we can still play in October."

The PGA has begun looking at alternative sites for the tournament. If a buyer for Running Horse is not found by November 22nd, the property will be sold at public auction outside the Fresno County Courthouse.

Running Horse tournament director Bob Jeffrey told Action News if the course is seeded by March, it would allow enough time for the grass to mature and be playable by October.

http://abclocal.go.com/kfsn/story?section=local&id=4721018