Finance committee forwards Dean Lake $2.9 million special-assessment bond to full board

The Kent County Board of Commissioners Finance Committee voted to forward to the full Board a recommendation to approve the Dean Lake Lake Level Special Assessment District roll and authorize the issuance of Dean Lake Lake Level Special Assessment District Bond Series 2025 in a principal amount not to exceed $2,915,588.32.

The recommendation matters to about 134 assessed parcels in the district: the Drain Commissioner’s computation of costs for the improvements is $2,915,588.32, a figure that residents and commissioners noted has risen sharply from earlier estimates. The Drain Commissioner and staff said the bond would be repaid from special assessments on benefited properties, with a proposed 20-year repayment term and an estimated annual payment in the neighborhood of $1,000 before interest for some parcels.

Property owners voiced concern at public comment that the project cost had “skyrocketed” from an earlier, preliminary estimate of roughly $1.1 million to the current $2.9 million computation. Brian…