The city of Spearfish has transferred ownership of Elkhorn Ridge Golf Course.
Operations and maintenance costs and any future expansion to 18 holes will be the responsibility of Frawley Ranch Estates manager and owner Daryll Propp.
The agreement between the city, Elkhorn Ridge and Propp is part of a tax incremental finance district enacted in 2007. The original TIF was set at $8.2 million, and because of the release of the contract, the value has been reduced to $3.8 million.
Spearfish City Administrator Joe Neeb said it would be reduced by another $1 million if nine more holes of the golf course are not constructed by 2015.
The course north of Interstate 90 featuring rolling hills and elevation changes opened in 2009.
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