Active/established Msbus

Lake Myrtle Southern Cove Lake Restoration

Current Status:

Assessment installment payments are collected annually via property tax bills.  Financing charges are assigned on an annual basis.  An assessment balance may be paid in full at any time without penalty.  A satisfaction of lien document will be issued by the MSBU Program whenever an assessment balance is paid in full.  The final installment will be billed in tax year 2017 (unless assessment balance is paid in full sooner).  Refer to Payoff Schedule table for details.

Background History:

A community-based application requesting creation of this MSBU was received in 2007.  The petition process demonstrated a community-wide support of 77%.  The requested MSBU was created in 2007 by the Board of County Commissioners following a public hearing, and equitable assessment liens were filed against all benefited property.  The renovation phase of the project was completed in 2008.  Final assessment amounts (based on actual project cost) were established as $3,665.00 per waterfront property.  When the final assessment amount was established, property onwers were given the option of paying the assessments in full or paying the assessment in equal installments over a 10 year period.  For financing details, refer to governing ordinance document and/or payoff schedule table.  Installment billing was initiated via the 2008 property tax bill.