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Four Lakes Task Force News Flash

Information and progress for bringing back our lakes.

November 18, 2020

FLTF and Boyce Reach Settlement in Condemnation

Last Friday, November 13th, FLTF and Boyce Hydro reached a settlement in connection with the condemnation litigation. In accordance with the settlement agreement, the counties on behalf of the Four Lakes Special Assessment District, will obtain ownership of the Boyce properties. This will come in the form of a consent to be filed and approved by the circuit courts in Midland and Gladwin counties.

FTLF has agreed to pay $1,576,000 that will be distributed as follows:

  • $270,000 to Boyce Michigan 
  • $152,000 to local suppliers that had liens on Boyce properties 
  • The remaining $1,154,000 will be up to the Bankruptcy Court to sort out between Byline Bank, lawyers and the bankruptcy trustee

The settlement is not about the value of the property, or fairness, but it is the best deal we could get to allow the community to extract itself from the legacy of Boyce’s ownership and move forward. Regarding the class action lawsuits, three of the five lawsuits against FLTF have been dropped. FLTF, as part of the Boyce Bankruptcy proceeding, has also been included in an insurance settlement trust that would release FLTF from all future claims.

What are the next steps?

November 30th there is a bankruptcy court hearing on the settlement agreement. Assuming the bankruptcy court approves the settlement, the condemnation will proceed with the signed consent agreement between the parties, and filed with the Circuit Courts.

When will Four Lakes take over dam operations?

FLTF has access for repairs now, and expects to take control of the properties in December. Four Lakes has an operations team in place that has been working for several weeks to plan the transition.

Will Boyce Hydro still be involved in any way?

No. Boyce Hydro must remove all its personal property by the end of the year.

Four Lakes Task Force

233 Larkin Street, Midland, MI 48640

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