Clarification on the Funding Plan
The $200 million state grant has been a very significant inflection point for how the Four Lakes Special Assessment District will be managed as well as the Four Lakes restoration project going forward. We have received questions related to the new assessment model since the amount of the Capital Assessment is now common for all lake property owners, similar to the Operations Assessment. On April 6th, almost 400 people joined a public informational session webinar to learn more about funding and financing. Presenters shared preliminary estimates of the Capital Assessment and changes to the assessment methodology. You can watch a recording of the webinar and see the presentation slides on the Events page of our website. The total planning estimate to restore the dams is $250 million. The Operations Assessment will begin in December of 2022. Of the 8,422 parcels in the Four Lakes Special Assessment District, approximately 91% of properties have an annual Operations Assessment of less than $240.
Four Lakes apportions costs to all properties within the SAD based on benefits derived. Consequently, adjacent properties will be assessed.
That said, if a property owner wishes to combine their parcels, they may coordinate with their local assessor and follow the procedures set forth by that local authority to do so. If there is sufficient time to consolidate the parcels into a single parcel during the year of 2022 when the first O&M assessment is levied, FLTF is proposing a grace period for property owners, provided that property owners can provide documentation, through their local assessors’ office, that the combination will take effect in 2023. Monthly dam restoration progress meeting to discuss value engineering, dam restoration, permitting, and a natural resources restoration study. Participants included representatives from Four Lakes Task Force, Michigan Department of Environment, Great Lakes and Energy, Michigan Department of Natural Resources, United States Fish and Wildlife Service, Natural Resources Conservation Service, GEI Consultants and Spicer Group.
Gov. Gretchen Whitmer, after receiving approval last week from the Michigan House of Representatives and Senate, today signed the supplemental bill that included $200 million of support for the rebuilding of the Four Lakes dams and restoring our community's future.
Join us Wednesday, April 6 at 5 p.m. for a Community Information webinar where FLTF will share information about funding and financing. Topics include:
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