For the second time in two years, the Killearn Golf & Country Club is under new ownership.

The Killearn Homeowners Association’s announced Tuesday during its board meeting that it had approved the sale of the club and golf course to Tallahassee native David Cummings, who founded Atlanta Ventures (AV).

“We are very excited and feel this is going to be wonderful thing for our entire community,” Steve Givens, president of the Killearn Homeowners Association, said during the meeting's live broadcast on Zoom.

The vote from the nine-person board was not made public.

Cummings, who attended Lincoln High and is an Atlanta-based tech entrepreneur, purchased the golf course and club from Killearn Golf Properties (KGP).

KGP, headlined by Jimmy Graganella and Ron Tolliver, signed a $2 million purchase agreement in February 2020 with former owner Barton Tuck of Greenville, South Carolina.

Cummings signed a $2.6 million purchase agreement with KGP in early February, according to Graganella. Sale negotiations between the principals started last December.

Cummings has founded multiple companies that collectively have a worth of $1 billion, according to reports.

His father, Dr. Ronald Cummings, is a retired Tallahassee orthodontist. Cummings’ AV partner A.T. Gimbel also attended Lincoln High, according to the company's release.

In a statement emailed last week by Atlanta Ventures to Killearn course and club members, the company said it planned to close the deal in the middle of March after it received approval from the homeowners association.

“Starting immediately after closing, we will begin plans to undertake a massive revitalization that includes building a new clubhouse, pool, and restaurant as well as investing heavily into improving the golf course,” the statement read.

To demonstrate its commitment, AV said it has “committed $8 million to be placed in escrow that will be used exclusively to reinvigorate the club. This is $4 million above and beyond what was required.”

While KGP made renovations and improved membership, it also raised $1.5 million through individual investors, according to Graganella.

Located in northeast Tallahassee, the course was built in 1967.

The opportunity to return the storied course to its past vibrancy "makes the endeavor compelling for us," AV said in its email to golf and club members. "Over the coming months, we’ll engage with architects and engineers to flesh out designs. While the project scope is vast, we expect to move as quickly as possible."

Reach Jim Henry at jjhenry@tallahassee.com.

This article originally appeared on Tallahassee Democrat: Tallahassee native David Cumminbs purchases Killearn Golf & Country Club