Trump National Golf Club Colts Neck
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FAST FACTS Underlying Assets: Golf Club Location: Colts Neck, New Jersey Purchase Date: September, 2008 Purchase Price: $28 million Reported Value: $50 million or more Reported Debt: $5 million to $25 million Reported Income: $7,512,891 Website: trumpcoltsneck.com OVERVIEW Trump acquired the Shadow Isle Golf Club in Colts Neck for $28 million in September of 2008. Trump claimed that the course was worth $50 million or more in his 2016 financial disclosure. Trump has reported income of $7,512,891 for the course. Amboy Bank holds a mortgage on the course worth between $5 million and $25 million. The mortgage was issued in 2008, matures in 2028 and has a 5.25% interest rate. Trump has lowered his property taxes by grazing goats on the course in order to claim a local farmland tax exemption. Local officials agreed to swap land with Trump in 2014, after unapproved upgrades on Trump's golf course encroached on protective easements held by the town. When local officials denied Trump permission to build a helipad on the golf course, he successfully appealed to courts and state officials to overrule their decision. Trump fought to divert millions of gallons of water from local reservoirs and aquifers to irrigate his course over the objections of local officials and residents. Trump's golf club in Colts Neck is one of several Trump properties that has applied to hire foreign seasonal workers through the H2B visa program. Trump's golf course at Colts Neck was sued for age discrimination by Edward Bals, a political supporter of Trump. Bals' case was dismissed in December of 2016 after a judge found the golf course had non-discriminatory reasons to have fired him. Karena Virginia, one of the women who accused Trump of sexual assault during the 2016 presidential campaign, at one time lived adjacent to Trump's golf course in Colts Neck. The couple had a dispute with Trump over trees planted on their property line. OWNERSHIP STRUCTURE Trump National Golf Club - Colts Neck:
99% owned by Donald J. Trump
1% owned by Trump National Golf Club Colts Neck Member Corp
100% owned by Donald J. Trump