Potential Sale of Spring Fork Lake
The City has entered into an agreement with Agrarian Technology Development Company, LLC that may result in the development of the land around Spring Fork Lake. The contract allows the development company six months to do their due diligence to ensure the property will be suitable for their development plans.
Provisions of the contract require that the lake remains open to the public and subject to an agreement with the Department of Conservation to continue to manage the lake for public fishing. It was an important part of the deal for Council to reach an agreement that any development of the land will not interfere with the continued use of the lake to the many residents that have grown to enjoy it over many years.
The lake was originally built by the water department to provide drinking water to the City. However, over the years the deterioration of the systems rendered this source of drinking water infeasible and has not been used for decades. Not being able to use the lake as a drinking water source, the ongoing maintenance costs create an unnecessary burden on the rate payers of the utility. Yes the recreational features of the lake represent great value to the community, but not something that should add to the costs of providing water. If this deal is successful, the community continues to be able to enjoy the fishing lake, while also recapturing $2.4 million for the surrounding land to put back into offsetting costs to delivering water utilities. A win, win, win for everyone.