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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.
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?”
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.
With all dams permitted for construction and the special assessments in place, here is what we are planning in the coming months.
There are many historical dates we all remember in our lives. For this community, May 19th, 2020, is one of them. I certainly can recall exactly where I was when the Edenville Dam failed, and the days and weeks after when many of us were simply focused on finding a dry, stable place to live. Now, five years later, while most have reestablished their lives, some still face a financial and emotional burden from the flooding.
The assessment roll is final, and property owners have the option to prepay all or a portion of their total Capital Assessment to avoid/reduce interest charges by July 1, 2025. Property owners are not required to prepay their special assessment and may instead make annual payments, including interest.
Property owners will receive a letter in the mail in the coming week regarding prepayment. You can also visit the prepayment webpage. |
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December 2025
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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.
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