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Mounds Lake – Money and Land

“Imagine Mounds Lake” dispels property acquisition rumors; addresses financing and ownership plans.

ANDERSON, Ind. – At an estimated cost of $400 million, financing options for the proposed Mounds Lake are being examined by the Corporation for Economic Development of Anderson/Madison County (CED).

“Financing is one of the major components of the Phase II feasibility studies for the Mounds Lake project,” said Rob Sparks, CED Executive Director. “Multiple funding sources will be needed and are being looked at for a project of this size and complexity.”

Funding sources being sought include, but are not limited to: Federal and State grants, private foundation monies, and water utility revenue. “It is important to note,” said Sparks, “that while many avenues for paying for this project are being explored, none of the options being examined involve local taxpayer revenue.”

In addition to financing the project, questions have arisen concerning the ownership and management of the proposed lake during construction, and upon completion.

“We are proposing that the communities come together and form a Mounds Lake Commission that would oversee the project,” said Sparks. Communities, which would be directly affected by the construction and represented on the proposed commission, would include: Anderson, Chesterfield, Madison County, Daleville, Yorktown, and Delaware County. A copy of the proposed Mounds Lake multi-county commission agreement will be posted on the website next week, along with information on the steps which must be taken before an agreement is approved.

“One financing component will be the Commission building a water utility that would sell water generated at the dam as a way to fund the construction and long term maintenance of the lake,” said Sparks. In addition, according to Sparks, the Commission’s authority would include: a zoning district in and around the lake, water uses, maintenance of the public space related to the lake, as well as long term care for the dam and lake itself.

“In order to put power into the hands of the community the creation of the Mounds Lake Commission is a crucial next step in the project,” said Sparks. “Creating a commission of this type provides an appropriate and accountable local entity for the acceptance of local, state, and federal funding, in addition to important official representation of local municipalities in the planning and construction process.”

As Phase II components of the project approach completion, one area of concern for local communities is the future acquisition of property and the process that will be used to do so.

“There have been rumors circulating that property is already being acquired for the project,” said Sparks. “This is not true. There has been no property purchased for the Mounds Lake project at this time. The 36-month permitting process of the lake would need to be completed before the project is ready to begin the acquisition process. Again, any rumors regarding early property acquisition for the project are false.” According to Sparks, there will be a complete project timeline for review by the community at the upcoming “Imagine Mounds Lake” sessions.

“Imagine Mounds Lake” is a series of interactive visioning sessions that will give area residents an opportunity to provide feedback on the project, learn more about the Phase II financing options, and hear more about the future water needs in central Indiana. Sessions will be held August 19 through August 23 in Chesterfield, Daleville, Yorktown and Anderson, with the main exhibit located in Anderson’s Mounds Mall. The session schedule includes:

  • Anderson – August 19-22 @ Mounds Mall 10 am-9 pm
  • Anderson – August 23 @ Mounds Mall 11 am-7 pm
  • Chesterfield – August 19 @ Mill Creek Civic Center 2 – 8 pm
  • Daleville – August 20 @ Daleville City Offices 11 am-5 pm
  • Yorktown – August 21 @ Yorktown Town Court 11 am-5 pm

The Corporation for Economic Development of Anderson/Madison County is a 501c3 non- profit that was incorporated in 1983. Their mission is to plan and undertake activities leading to steady job growth, increasing economic diversity, and a strengthened employer base, which enhances the quality of life in Madison County, Indiana.

For more information about the proposed Mounds Lake, visit www.moundslake.com, or contact Rob Sparks at 765-642-1860 or at robsparks@cedanderson.com.

For recent updates on the Mounds Lake Project follow them on Twitter @MoundsLake.

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The Town of Daleville is located in Delaware County where I-69, Ind. 67 and Ind. 32 converge.

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Daleville, IN 47334
Phone: (765) 378-6288

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