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UPDATES

What are my Capital Assessment prepayment options?

6/12/2025

 
FLTF has received questions from property owners regarding prepayment of the Capital Assessment and their options. There is no one right choice, as a significant factor in selecting is your personal and financial situation. FLTF cannot give financial advice, but here is some further clarification on options:

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Capital Assessment Annual Breakdown

6/4/2025

 
The annual payment for the Capital Assessment will not be the same dollar amount year after year. 
Year one will be lower because the full capital assessment amount ($217.7 million) is being paid off in equal 40-year payments, but the first year interest is on only what has been borrowed ($80 million). Please watch a recording of our most recent webinar where we explain this in more detail. 
​
Each year, homeowners will experience a slight change in the annual amount due to the equal capital assessment payments, which remain the same year-to-year, but the interest amount will decrease as the assessment balance is reduced. This leads to the highest annual payment in year two and the lowest annual payment in year 40.

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$80 million bond interest rate secured

6/4/2025

 
To fund the Four Lakes Dams and Lakes Restoration projects through the middle of 2026, FLTF secured an $80 million bond at a 4.94% net interest rate over the term of the bond issue. This is the first series of bonds to be issued.

In 2026, FLTF will use the remainder of the State of Michigan funds before their expiration in September 2026. We will secure the second series of bonds in the summer of 2026 to fund the remainder of the project.

​The Capital Special Assessment will appear on your winter 2025 tax bill and will include 5.94% interest.
The additional one percent is legally allowed to be added to cover the deficit created from property owners paying off the assessment during the term of the bond. 

Literature review of lake level property value - report summary:

6/3/2025

 
​FLTF engaged Public Sector Consultants (PSC) to conduct a literature review of research that has been done on how lakes can affect property values. Their report looked at studies that primarily relied on hedonic analysis. Hedonic analysis is a statistical method used to estimate the value of a good or service by analyzing how its individual characteristics contribute to its overall price.
Picture

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What did I miss? FLTF Communications log

6/3/2025

 
As kids, some of us might remember the story of "Rip Van Winkle" who falls deeply asleep in the Catskill Mountains, awaking 20 years later having missed the American Revolution. Four Lakes Task Force (FLTF) occasionally will receive questions along the lines of “what’s going on with those lakes? and what did I hear about an assessment?”

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secord and smallwood construction starts this week

6/3/2025

 
Construction resumed on Secord and Smallwood dams! We're excited to share that activity is taking place on three of the four dams with work expected to begin on Edenville Dam after July 4th. It takes time to remobilize construction crews but crews are back on site at Secord and Smallwood and hitting the ground running.

Key Monthly Plans

5/19/2025

 
With all dams permitted for construction and the special assessments in place, here is what we are planning in the coming months.

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©2025 | Four Lakes Task Force is a US 501 (c)(3) public charity, EIN 27-4698447. This institution is an equal opportunity provider.
Four Lakes Task Force
  • About
    • History
    • Who We Are >
      • Team Bios
    • Operations
    • Secord Dam
    • Smallwood Dam
    • Edenville Dam
    • Sanford Dam
  • Restoration Progress Report
  • Donate
    • Why Donate?
    • Our Donors >
      • Corporate Sponsors
      • Individual Donors
    • Four Lakes Legacy Society
  • Events
  • Documents
    • Annual & Quarterly Reports
    • Audited Financials
    • Dam Construction Updates
    • Engineering Reports & Studies
    • Flyers & Brochures
    • Meeting Presentations
    • News Flashes & Newsletters
    • Published Statements
    • Restoration Plan 2021
    • Tax Filings & Governance
  • Resources
    • Erosion Control >
      • Project Map
      • Project Permitting
      • What You Can Do
    • FOIA Request
    • Frequently Asked Questions
    • Lakebottom Information
    • Subscribe
    • Updates
  • Special Assessment District
    • Assessment Maps
    • FAQs
    • Prepayments
  • Contact