Page 4 - The Friday Flyer • July 7, 2017

A-4 THE FRIDAY FLYER JULY 7, 2017
Canyon Lake’s contract of $1.5 million now - would only be about $3 million 36 years into the new contract and approximately $4 million annually in year 2066, not $68 million as with the previous eight percent example.
At the eight percent former rate – the cumulative amount we would pay over 49 years is approx. $900,000,000. (an average of 18 million a year). At the example of two percent Consumer Price Index, the cumulative cost of 49 years’ worth of payments is $121,000,000. (an average of 2.4 million a year). The graph above shows the cumulative expense as the contract progresses to the year 2066.
New lake lease contributes to significant savings...
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cumulative amount we would pay over 49 years is approx. $900,000,000. (an average of 18 million a year). At the ex- ample of two percent Consumer Price Index, the cumulative cost of 49 years’ worth of payments is $121,000,000. (an average of 2.4 million a year).
A spokesperson for CLPOA said, “This truly is a monumental step for- ward. We are very pleased that the hard work from both sides, and the patience and participation of CLPOA’s members, has produced this durable and lasting agreement, which will preserve the spe- cial character of the Canyon Lake com-
munity for decades to come.”
The Board of Directors made the cor-
rect decision to renegotiate the contract, before it spiraled out of control. The cost to negotiate over these last six years (approx. $1,067,000) will be recaptured (saved) in less than four years and the returns beyond that for the remaining 45 more years are obviously well worth the investment of time, energy and funds expended.
The next time you see a past or current member of the CLPOA Board of Direc- tors, thank them for the job they did to protect the assets and financial solvency of this community, for the responsible solution they achieved, for the endless
hours they volunteered, for the criticism they endured and for their persistence to put the community first and do what was right for our community.
Thanks also go to the many CLPOA staff members over the years and to the volunteer members of the Lake Lease Advisory Committee who helped pro- vide their expertise, input, community feedback and guidance to the CLPOA Board of Directors, staff and attorneys along the way since 2015. This was truly an example of the community pulling to- gether when needed.
Editors note: Steve Libring is a vol- unteer member of the Canyon Lake Lake Lease Advisory Committee. He is
a “behind the scenes” volunteer whose service in the community began when he moved to Canyon Lake in 1983.
Steve is a 34-year member of the Facilities Review Committee and a member of the Master Plan Survey Sub- Committee. He recently submitted an application to fill a vacancy on the Se- curity Advisory Committee.
In the 80s, Steve was instrumental in getting a traffic signal installed at the in- tersection of Railroad Canyon Rd. and Canyon Lake Dr. South and, in 1983, helped to clean up Skippers Island, a project spearheaded by Dee Dee Davis.
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PHOTO BY STEVE LIBRING
PHOTO BY STEVE LIBRING