Faxon’s Group That Bought, Sold Metacomet Receives PPP Loan
Brad Faxon and his investment group that bought and sold Metacomet Golf Club after just on year has received a Paycheck Protection Program (PPP) Loan from the federal government.
According to the list released by the U.S. Treasury, Metacomet Property Company LLC received a loan ranging between $150,000 and $350,000.
See the Full Map of Loans Below
According to the U.S. Treasury, the group was approved for the loan on April 7, 2020, just over a month or so after Metacomet had been sold to Marshall Development.
Along with Faxon, the group consists of Brendan VanDeventer, Timothy Fay, Triggs Manager Karl Augenstein and College of the Holy Cross golf coach Steve Napoli.
Latest on Metacomet
As has been reported, Metacomet was bought by the group and then sold just a year later to Marshall Development.
Marshall Development plans to redevelop the property into hotels, a mall and other things.
As GolfNewsRI reported last week, a group of East Providence residents are fighting back against development of the property by signing a petition and bringing it in front of the East Providence City Council.
The City Council is expected to hold public hearings on the matter in August.
Other Golf Courses Receiving PPP Loans
Metacomet is not the only golf club to receive a PPP loan.
Aquidneck Island Country Club, Foster Golf and Country Club, Agawam, and Newport National also received between $150,000 and $350,000.
Meanwhile, Kirkbrae, Wannamoisett, Shelter Harbor and Alpine received between $350,000 and $1 million.
See the Full Map Below