Announcements
WLA Capital Fund Drive - Needs You! ...by Steve Center
Expect additional funding from the 2011 drive to be at least $40,000
At our annual meeting in July of 2010 we approved moving forward with a significant capital fund effort. Frankly, it was not an option if we were going to rebuild our dam. During 2010 we had a self imposed mandate to move rapidly as the dam repair and payment was to be completed in the fall of 2010. For that reason, our board members each elected to seek out six to ten property owner contacts, primarily on the basis of neighborhood or personal knowledge. The total amount of those contacted represented less than 50% of property owners with lakefront access.
Our fund drive schedule runs from July, 2010, through October, 2011. We decided in the fall to put it on hold and restart in June, 2011. We have been very successful to date with the average contribution over $1,000 per property owner with a typical payment schedule of $100 or $200 per owner for ten years.
Our board of directors believes every property owner with access should have both the opportunity and the responsibility to contribute to the vitality of our lake and watershed. We have established a line of credit with a local bank. We are working on another major project and because of the timing of payments it will take a decade for us to receive all of the money which has been pledged.
These are trying times and any "crisis funding" from governments, grants, etc. will be more and more difficult if some catastrophic event were to strike. Preliminary research would suggest that a lake the size of ours should work toward establishing a reserve of at least $75,000 to have available immediately should something serious occur. Fear of invasive species such as milfoil is paramount in the minds of all of us currently, and I'm sure many of you have read about the seriousness of problems with some lake not too far from us and the fact that they do not have the necessary financial resources. We have the momentum and we urge everyone to participate in the capital fund drive.
The second phase of this drive will take place over the spring and summer, and we very much need six to eight individuals who are willing to work on this program. We have excellent materials and will provide instruction and leadership. Please call Steve Center at 730-2261 if you are willing to volunteer.