BATH — The Bath Country Club, which is being foreclosed on by Savings Bank of Maine, will be up for auction on April 13.
Joe Waites of Minerva Consulting LLC of Georgia is helping the bank with various loan workouts and has been appointed as receiver for the club.
He said on Tuesday that the club defaulted on its mortgage, triggering the planned sale of 117-acre property.
Waites said if no one outbids the bank on the Whiskeag Road property it will take over the club and market the 18-hole golf course through a regular real estate sale.
Jason Marco and Shawn Arsenault are the owners of BCC Holdings, which purchased the club in 2006 from Harris Golf. Marco, who with Arsenault continues to handle the club’s daily operations, declined on Tuesday to discuss why the club defaulted on its mortgage obligations.
Waites said the club remains open for business.
“We’ve had a lot of people here because other clubs are not open,” he said. “… Members are still signing up. If people have questions about (the sale) we meet with them and talk to them and say, as far as the bank’s concerned, the club will continue to operate as a country club and things are going well.”
However, once the club has a new owner, that party would then decide what to do with the property, Waites said.
According to Bath’s assessor database, the nearly 80-year-old club has an appraised land value of $1.59 million and an assessed building value of $1.89 million, for an assessed total of $3.48 million.
Alex Lear can be reached at 373-9060 ext. 113 or firstname.lastname@example.org.