Editor, The Friday Flyer:
Our lake is a fantastic asset. It is the only reservoir, in all of Southern California, that allows body contact with the water and has a private access contract with a water district. This makes the lake and the Lake Lease a very valuable asset.
In 2016, this asset costs each property owner just 83 cents per day. The (Elsinore Valley Municipal) Water District projects the cost six years from now, 2022, will be $1.08 per day. An increase of just 4 cents per year. This is less than the daily cost of a mobile phone, internet access or TV cable or satellite access. and they do not add to our property values.
Given that the lease adds to property values, our cost is a BARGAIN, or it was until the prior POA Directors voted to withhold a rent payment and filed a lawsuit with the Water District.
Experts say the uncertainty caused by these actions resulted in a 20 percent reduction of property values. Property worth $400,000 has lost $80,000 value. If the average property value is $300,000, then the Canyon Lake community has lost at least $288 MILLION DOLLARS .
To begin returning property values to their appropriate levels the POA Board needs to :
- Withdraw all lawsuits against EVMWD.
- Issue a public statement committing to abide by the current contract until its termination in year 2022.
- Implement a moratorium on all adversarial issues/discussions with EVMWD.
- In year 2020, enter into civil discussions with the EVMWD relative to contract provisions beyond year 2022.
This will provide adequate time to negotiate a reasonable contract and would allow a four-year cooling period, which may make the discussions less contentious.