GREENCASTLE -- Heritage Lake homeowners are still hoping for some help from Putnam County Commissioners and commissioners are looking to hear from more homeowners before they consider taking the risk of paying for an engineering study of the lake area roads.
Several members of the Heritage Lake Homeowners Association board appeared before commissioners at a special early morning meeting Tuesday to ask the county for money to pay for a study that they must have done before going forward with the bond issue using the Barrett Law.
For several months members have been coming to the commissioners meetings looking for help in finding funding for the $3 million road project in the second most populated area in Putnam County.
With the help of the commissioners, the organization determined they could use the Barrett Law to obtain a bond with long-term financing that would be paid by the homeowners at Heritage Lake.
The sewer system at Heritage Lake was financed over 10 years in a similar manner.
If 40 percent of homeowners lodge a complaint against the tax assessment, it goes to court and a judge will decide if they can do it or not. Objections have to be in writing and submitted to the county auditor's office.
"Everything is pretty much in place to move forward," said Dan Antico. "Our association operates on about a $1 million budget and we don't have any money for the engineering survey. We'd like the county to consider paying for it."
Estimated cost is between $130-160,000. Spending the money is a risk because if 40 percent of the homeowners object to using the Barrett Law than the bond issue will stop.
If the project moves forward the money becomes part of the bond request.
"More than 60 percent of the homeowners are for it. It's more than like 80 percent," said Antico.
A community meeting for homeowners is planned for Sept. 23 at 7 p.m. at the Bainbridge Community Center.
There are approximately 2,800 property owners in the Heritage Lake area. They will have an opportunity to hear about the bond issue. Commissioners hope to hear from homeowners regarding the plan to use Barrett Law to pay for resurfacing of the roads.
Representatives at the commission meeting cited improved home values, safety issues, more people moving into the area and ultimately more property tax monies for the county.
Commissioners tabled the request to pay for the engineering survey until after the meeting on Sept. 23.