Lake Parsippany For Sale
As you already know, in August 2016 we launched an exploratory committee to look into the possibility of an easement assessment for all 2200 homeowners that make up the original purchase tract of the lake. In October 2016 the membership voted, and we moved forward with instituting the easement assessment.
As many of you have heard and read the changes to the PREDFDA statute from November 2017 is now in jeopardy of being overturned. This puts our lake’s future in jeopardy. It is ironic that in June the Governor signed a proclamation making July ‘Lakes Appreciation Month’ and recognizing the efforts of those that help maintain lakes. It is also acutely apparent this summer, when many lakes in New Jersey are facing toxic algae blooms, how important it is that lakes have the resources to be properly managed. The Bill to overturn PREDFDA sits on the Governor’s desk for him to either sign or to veto. If by sometime in August he does not veto, then the changes will be the law. Depending on how the judge interprets the new changes, that law may prevent us from moving to an easement or any form of required payment to maintain the health of the lake.
Before the PREDFDA changes, the Association’s rights to assess all who live here were very clear under the law. But now, as a Board, we need to be prepared for the worst-case scenario. Let me be clear. After meeting with the Mayor and discussing with the state, neither want the responsibility of caring for the lake, despite what the plaintiffs may be telling you. What is surprising to us is that the Plaintiffs don’t realize, or maybe they do, that victory for them will result in all of us facing a destabilized community, where there is not enough money to care for the lake and other properties, which will bring down all of our property values.
So what does this all mean. In short if the bill gets signed, and our case is resolved in Plaintiffs’ favor, we will have no choice to prepare the PROPERTY FOR SALE by doing the following, in accordance with our By-Laws, dissolution provisions of the NJ Non-profit law and state law:
1. File for a permit for permanent lowering of the lake.
2. File for a permit for relocation of the fish.
3. Decommission the dam and dikes by removing them.
4. Dissolve the S8 agreement with the township.
5. Survey of the LPPOA owned property.
6. Notify all lake front property owners that they must immediately remove all of their property, including docks, from LPPOA property.
7. Install fence around the entire property.
8. Sell all LPPOA owned properties.
9. Liquidate all LPPOA assets.
10. Permanently dissolve LPPOA.
We are already getting pricing for the items noted above. These will probably deplete the reserve accounts to comply with all requirements related to permanently lowering the lake and selling the property.
This is a real concern. This lake has been my home for 59 years and I don’t want to see it go away. Sadly, we simply can’t continue draining reserve accounts to balance an ever increasing budget.
I continue to work with representatives from COLA (Coalition of Lake Associations) to fight the potential changes at the state level.
I strongly encourage each of you to continue to call 609-292-6000 and ask that the bill S3661/A5403 is vetoed by the Governor. They are keeping track of the number of calls they receive, so you can call more than once.
Lake Parsippany Property Owners Association
P.O. Box 62
Parsippany, NJ 07054