February 1, 2012
Dear Las Campanas Member:
When the Club at Las Campanas transitioned to member-owner status, we instituted the Step-Down Program, which allowed for Las Campanas members to change their membership category. We felt this special opportunity was fitting as members re-established their relationship to the new member-owned Club and was a way to honor loyalty through a challenging time. The program was established by the Board with the stipulation that The Club at Las Campanas would eventually end or suspend the program when it was deemed appropriate. Now that we are past our turnover date by almost two years, we feel it is the proper time to place an indefinite moratorium on this policy effective immediately.
The Board also believes it is in the best strategic interest of The Club at Las Campanas to simplify the membership categories going forward, introducing only two memberships to prospects. To that end, effective today the Board has placed an indefinite moratorium on the issuance of new Equity Club memberships. Therefore, in 2012, the only memberships at Las Campanas available for purchase or transfer will be the Equity Social and Equity Golf categories. We will continue to offer the trial membership program for those who have never previously held a membership in The Club at Las Campanas.
Important to note is that for those of you currently holding an Equity Club Membership, the privileges of that membership will not change as long as you hold the membership. Upon sale or transfer, the buyer will receive an Equity Social Membership and the transfer fee will be based on the then current initiation fee for the Equity Social Membership.
We are looking forward to the upcoming season, and will offer a number of new activities, dining concepts, and many ways for you to continue to fully enjoy your wonderful club at Las campanas.
The Board of Directors
February 1, 2012