Over the last year, Lakeside, with the input and contribution from many community members, has been actively planning the streets and drainage improvement project, which is expected to begin after the 2024 season.
Based on available information at this time, the estimated cost of this project is expected to be $4 million, consistent with projections shared with the community throughout the 2022-2023 season. Lakeside has accumulated some funds already to apply to this project, which is expected to be a four-year construction period.
The Lakeside Association Board has approved an increase in the assessment rate from 0.491% of assessed property valuation to 0.64%, an increase of 0.149%. The increased assessment is expected to provide approximately $500,000 annually. If the rate is kept in place for five years (the four-year construction period plus an additional year prior to start of construction), these funds and the funds already being collected in the assessment are expected to provide sufficient funding to meet the budget of $4 million.
Lakeside will provide a complete accounting of the costs and assessment collections on an annual basis. It is important to note that at this time the Lakeside Association Board has only approved the increase for the one-year period of Oct. 31, 2023 to Sept. 30, 2024. Annually, the Lakeside Association Board will review the additional assessment rate necessary based on the project’s actual expenditures and receipts.
The Streets and Drainage Advisory Task Force (SDA) will continue work as we conclude the 2024 summer. All past reports can be downloaded and reviewed at lakesideohio.com/infrastructure. As we progress, the following are the next steps in the planning and design of the project.
- Contractors Design Engineering (CDE) hired and produced initial drawings to be reviewed for Poplar Avenue.
- CDE is working on the design for additional eastern streets in Phase 1.
- Fred Seling, a member of the SDA and recently retired owner of a civil engineering consulting firm specializing in roads and paving, has accepted the position of Owner’s Representative for Lakeside for the duration of this project.
