Financing The Heron Cove Association appeal has impacted the June financing plan, such that current State of Michigan funds now must be used to ensure we bring all current ongoing projects to at least appropriate suspension points later this year. This leaves insufficient state funds to start the last phase of Edenville restoration. We simply cannot start the last phase on Edenville without certainty of financing to complete it. Permitting
Additionally, only State of Michigan funds can be used for Edenville Dam restoration until the U.S. Fish and Wildlife Service (USFWS) “Incidental Mussel Take Permit” is issued. (This permit is different than the EGLE permit expected by June.) This is because the funding source of the bond will be from revenue generated from the assessments. Without the USFWS permit, the lake level cannot be restored and revenue for Edenville will not be available. The most optimistic start is the fall of this year only if 1) the USFWS permit is obtained and 2) funds from bond financing are available. For those interested in more details on this matter, please see the Edenville Dam page on our website. Comments are closed.
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November 2024
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