In December, FLTF shared an estimated capital assessment range. After refining these numbers and considering the timing and risk associated with permitting and financing, the total capital amount to be assessed for financing is $217,700,000. This number includes the costs for the total project, financing and contingency, minus reductions including State of Michigan and federal grants. This is the total amount to be financed that will be presented at the January 15 public hearing for approval. Property owners are encouraged to revisit the assessment map on the FLTF website later today or this weekend to see their estimated capital assessment amount that is no longer presented as a range. The map will be updated by the end of today (Jan. 5).
There is $34,584,150 of contingency in these numbers. Therefore, the total assessment amount may be adjusted if there is an improvement in planned project performance, contingency is not completely utilized, or additional grants are received. If this occurs, it would likely not be until late 2025 or 2026 when the project is nearing completion.
This number in the maps and published roll now only reflects the total to be assessed at $217.7 million that will be presented at the hearing, which is an amount that cannot be exceeded without further approval by the counties. This amount aligns with ranges provided at public webinars on October 12, 2023, and December 6, 2023.
For informational purposes and an illustrative example, the table below illustrates the average annual capital payment amounts with principal and interest for bond and U.S. Army Corps loan financing at a 5% interest rate, at $217.7 million. To find your specific benefit factor total please visit the assessment map on Four Lakes’ website.
Average Annual Capital Assessment Residential Payment
Bond Avg. Annual Payment
($80M Bond at 5% Interest)
USACE Avg. Annual Payment
($137.7M Loan at 5% Interest)
Total Avg. Annual Payment for Capital Assessment
(Principal + Interest)
High benefit factor value - residential lot*
Average waterfront lot
*93% of parcels have a factor total less than 1
Read more about the special assessments and assessment methodology and review the tentative assessment amounts for your own parcels by clicking the buttons below.
Mailing, Publishing Notices, Administration and Appeals
Loan and Bond Issuance Costs
Cost of Capitalized Interest
Total Project Computation of Cost
Less State of Michigan grant, USDA boom grant and MDOT settlement
Total Amount to Be Assessed
Note: The establishment of the Four Lakes Special Assessment District and legal lake levels were set as a result of the May 2019 court order. All expenses associated with the hearing,
land acquisition and design engineering were funded by private or public grants and no
Special Assessment District funding was acquired.
Jan. 15 Public Hearing
Guide to Attending the Public Hearing
Beaverton Activity Center Gymnasium, 106 Tonkin Street, Beaverton, Michigan 48612
9:00 a.m. to 12:00 p.m. and 1:00 p.m. to 3:00 p.m.
Property owners are invited to attend to make a public comment and/or object to the special assessments. Please see the reasons for attending below for instructions on what to do when you arrive. All attendees will be required to fill out a check-in card.
To talk to an engineer about your parcel: Wait to be directed to an open engineer. Come prepared with your parcel ID number.
To verbally object to the assessment rolls in front of the FLTF board: Receive a number. Wait in the gymnasium until your number is called. Once your number is called, proceed to the microphone at the front.
To deliver a written objection to the FLTF board: Hand your written objection to one of the volunteers at the check-in desk.
To witness the hearing as an audience member: Fill out a check-in card then proceed to the auditorium to find a seat.
To cover the hearing as a member of the press/media: Inform the check-in volunteers that you're a member of the media so they can connect you with Stacey Trapani or Taylor Trapani.