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Richter Park granted loan from Danbury to create driving range

The Richter Park Golf Course has gotten approval from the City of Danbury for help with its new driving range.  The City Council has approved a low-interest loan of up to $600,000, to be repaid in under 15 years.  The proposal could have two dozen bays for public use and another two to three bays for  teaching and professionals.  A 10th hole would need to be rebuilt.  Annual revenue estimates are between $ 125,000 to $228,000.  Expenses would be about $40,000, including loan repayment.  City Finance Director David St. Hilaire says his office would revise the terms of a 2015 loan to Richter Park, adding on the $600,000.  There is $ 1.3 million of the $1.5 million loan left to pay.

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