Midland and Gladwin County Commissioners Give Their OK
FLTF to Continue with Plans to Pursue $10M Interim Financing
The Midland and Gladwin County boards of commissioners both approved the Financing Plan for the Four Lakes restoration, which was discussed in detail at the March 3 FLTF TEFRA hearing. A TEFRA (Tax Equity and Fiscal Responsibility Act) hearing is required by the Internal Revenue Service of non-profit organizations that intend to issue tax-exempt debt.
This was the approval of a financing plan, not the final financing approval of the restoration. The approval of any assessment this year will be by the counties and will be approved after the Special Assessment hearing (see article below).
Both counties also approved a $10 million grant anticipation note(s) and provided their good full faith and credit. A note would be used only if there is certainty of a state grant or appropriation.
A note will be used only if there is a gap between state approval of the funds, and when funds are projected to be received. Our legislative leaders and the Governor understand that if funds are not approved by the end of March, there would be an impact on our recovery effort that would cause the recovery or restoration to be delayed.
FLTF needs to have funds committed by the end of the month or it will need to restructure its spending and financing in 2022.
“Our legislative leaders and the Governor understand the importance of these appropriations to the Four Lakes, and the timing needed. It’s our job to make sure we have options and plans to keep momentum with our program,” said Dave Kepler, president of FLTF.
Please mark your calendar for important dates related to the Four Lakes Special Assessment.
April 6, 2022, at 5 p.m.: The financing plan, status of the State grant, Special Assessment methodology and costs, will be discussed at an FLTF community information webinar.Register here. Questions may be submitted in advance to firstname.lastname@example.org.
April 11, 2022, at 2 p.m.: There will be an FLTF board meeting (rescheduled from March 31) on behalf of the Four Lakes Special Assessment District. Topics will include review of the 2022 budget and its financing, and approval of the financial plan that was reviewed at the April 6 webinar. There will be a public comment period. This meeting will be in-person at Secord Township Hall, 1507 Secord Dam Rd, Gladwin, MI 48624.
April 19 and 20, 2022: The in-person preliminary Days of Review will continue on April 19 (Jerome Township Hall) and April 20 (Secord Township Hall). FLTF encourages you to attend and review your property with the FLTF team working on the SAD. The assessment methodology will be applied using the property tax records as provided to FLTF from each county and will be formally adopted at the Four Lakes Special Assessment Hearing in June of 2022.
June 15, 2022: Property owners who wish to combine parcels within the Special Assessment District must discuss this with your local township assessor. You must contact the assessor to understand the process for your township.
FLTF, on behalf of the SAD, will incorporate combinations into the assessment methodology provided we receive a letter from your township no later than June 15, 2022. Please submit a letter from your township indicating that your parcel combination will occur this calendar year. Letters may be mailed to FLTF at 233 E. Larkin, Ste. 2, Midland, MI 48640 or emailed to email@example.com.
After June 15, your portion of the project cost will be set based on current tax records and cannot be changed until the next SAD hearing in 2025. If you believe the assessment amount causes you a hardship, please email FLTF at firstname.lastname@example.org.
June 2022 (Date TBD): In June (date to be determined) FLTF will hold a Special Assessment hearing for property owners to appeal their portion of the Operations Assessent for 2022-2004. This hearing will not include a discussion of the Capital Assessment, or the Operations Assessment beyond the 2024 winter tax bill. Assuming a significant state grant is provided, a future special assessment hearing will be conducted, most likely in 2025, for the Capital Assessment (if any) and the Operations Assessment for 2025 and years to follow.
After this meeting, the Counties will review the rolls and assessment for approval.
Community Information Session and FLTF Board Meeting
Mark your calendar for two upcoming meetings where we will share information about the FLTF 2022 budget and grant anticipation note resolution.
FLTF Board Meeting on Behalf of the Four Lakes Special Assessment District
Monday, April 11, 2022, at 2 p.m.
(Rescheduled from March 31)
Secord Township Hall, 1507 Secord Dam Rd, Gladwin, MI 48624
This meeting will have a public comment period.
EGLE Posts Public Notice for Work on Edenville Dam
The Michigan Department of Environment, Great Lakes, and Energy Water Resources Division (WRD) has posted a public notice to the MiWaters home page. The notice is also being sent to Wixom Lake property owners whose parcels are adjacent to Edenville Dam. The notice is to give property owners an opportunity to comment on recent design work performed under emergency order of EGLE. The work involved the creation of design documents to stabilize the dams.
Click “Documents” to view the Public Notice and the plans for the project.
To leave a comment, click “Add Comment”. When inputting your comment, please do not add any personal identification information (PII) concerning yourself or any other individual, into the comment box, including email or telephone number.