By Deborah Goonan, Independent American Communities
Here’s an example of an HOA working with their County to create a tax district to help pay for a $500,000 lake dredging project.
The lake community was forced to lower water levels and eventually drain the lake, following flooding earlier this year. Over time, silt has covered the lakebed, reducing its depth and its capacity to hold water without flowing over the dam.
Timberlake homeowners association working to create watershed improvement project
by Whitney Barney Thursday, November 29th 2018
CAMPBELL CO., Va., (WSET)—The Timberlake Homeowners Association is working to improve the conditions on Timber Lake.
Neighbors say they’ve had constant issues with sediment on the lake bed since the August floods and it needs to be dredged. The homeowners say without the healthy return of the lake, each home is at risk of losing 2/3 of its property value.
Homeowners are working to create the water shed improvement project with the county. The project is estimated to cost $500,000.
Residents to lower water level, eventually dredge Timber Lake to prevent College Lake scenario
Shannon Keith Aug 6, 2018
Gillett said the dredging is projected to cost about $500,000, all of which will be paid for by the lake’s residents.
“And that doesn’t include additional costs like all of the water testing that will have to be done before and after,” she said. “We have to pay for that ourselves.”
Gillett said the area is in the process of forming a Domestic Water Improvement District (DWID), which will allow the lake’s residents to tax themselves at a higher rate to fund projects like the lake’s dredging.