Trump International Golf Club West Palm Beach

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FAST FACTS Underlying Assets: Golf Club Location: West Palm Beach, Florida Lease Date: 1999 Development Price: $40 million Reported Value: $25 million to $50 million Reported Income: $17,510,455 Website: OVERVIEW Donald Trump acquired and began development of his West Palm Beach in 1999, for a reported cost of $40 million . Trump developed the course on land he leased from the local government. Trump obtained the lease in a legal settlement with local officials over airport noise above Mar-A-Lago. During development, local officials complained that Trump failed to honor terms of his contract requiring the use of minority contractors. When the course opened in 2000, golfers complained about being heckled by inmates of the Palm Beach County Jail , which overlooked the course. Trump claimed that the course was worth between $25 million and $50 million in his 2016 financial disclosure. Trump most recently reported $17,510,455 of income for the course. Trump's golf club in West Palm Beach is one of several Trump properties that has applied to hire foreign seasonal workers through the H2B visa program. OWNERSHIP STRUCTURE Trump International Golf Club - Florida:

99.999% owned by Donald J. Trump
0.001% owned by Trump International Golf Club Inc.
100% owned by Donald J. Trump

DISPUTE OVER DEVELOPMENT CONTRACT In 1999, the New York Post reported that Trump had been accused by a Palm Beach County Commissioner of failing to honor terms in his development contract that required the use of minority contractors. Donald Trump has been warned by Palm Beach County to use more minority businesses to build his $40 million golf course located a few miles west of Mar-a-Lago. "He's violating the deal he had with Palm Beach County," said County Commission Chairwoman Maude Ford Lee. Lee said The Donald's agreement requires his general contractor hire minorities for 30 percent of the work on his state-of-the-art Trump International Golf Club on 215 county-owned acres. She says black firms were promised 10 percent of the work with minority and women-owned businesses getting another 20 percent. If Trump fails to comply and the county decides he didn't use "reasonable efforts" to find minorities, the county could cancel the 75-year lease, said Bob Inman, property manager for Palm Beach airports, which is overseeing the golf course project. (New York Post, January 1, 1999)