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JHFE Purchases Standard Club

December 13, 2013 – The Jewish Heritage Fund for Excellence and the Standard Country Club completed the $4.7 million sale/partial lease-back of 150 acres in eastern Jefferson County in a proactive effort for the Fund to create future opportunities for the Louisville Jewish community and for the Standard Country Club to continue its more than 100-year golf tradition of offering membership to the entire Louisville area community according to Louis Waterman, chairman of the Fund and Joseph H. Cohen, attorney for Standard and a member of its Board.

This move will further diversify the Fund’s asset portfolio and add to the enrichment of the Jewish community, strengthening the mission of the Jewish Heritage Fund for Excellence’s grants initiative. This transaction is a prelude to a new membership drive the Standard Country Club will initiate this month to increase its membership to a maximum of 275 golfers, according to Chet Smith, its president. The Club will continue to provide a first class quality golf course at very competitive new pricing without initiation fees, food minimums or assessments.

While Standard Country Club’s golf course, swimming pool, and tennis operations will continue under a lease and a recreational facilities agreement, a Phase I planning process will focus on the land and facilities not currently occupied by the existing golf course, swimming pools, and tennis facilities. The Jewish Heritage Fund for Excellence will convene a special task force by the end of next month to facilitate a community-wide planning process that will help determine optimal future uses.

Since its creation in 2012, the Jewish Heritage Fund for Excellence has already committed over $4 million in grants to the Jewish community at large and the medical research community. The Standard Country Club is one of the Country’s oldest surviving private clubs with its establishment in1873 and is proud of its fully diverse membership.

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