Serving Milledgeville & The Lake Sinclair Area Charlie Adams
Milledgeville & Lake Sinclair Real Estate 
Charlie Adams

Georgia Power Lease Lots


 

     There are three types of property ownership on Lake Sinclair property - Fee Simple, Lease Access Strip & GA Power Lease Lots

1) Fee Simple - Deeded property owned to the full pool level of the lake, which is 340 ft. above sea level

2) Lease access strip - Deeded property owned to 10 ft. above full pool combined with the 10 ft. between the deeded property and the lake full pool level. Think of it as a 10 ft. flood zone. This is 10 ft. in elevation, not 10 measured feet. The lease access stip is leased for  $300 per year. The right of lease comes with ownership of the attached property. There is no transfer fee.

3) Ga. Power leased lots - Ga. Power owns the lot and individuals lease the lot for a term of 15 years. The individual has the right to renew the lease at the end of 15 years as long as they comply with the lease. the following information was published and distributed by GA. Power Company in 2006.

Regardless of the type of ownership, what can be built on the lake; seawalls, docks, boathouses, are managed and approved by GA. Power, and the guidelines and standards of improvements at the shoreline are the same, no matter the type of ownership.

Requirements to transfer a Georgia Power fully leased lot:

*  $3,000 transfer fee

*  Conditional Bill of Sale signed by seller and buyer (form supplied by GA. Pwr.)

*  At the time of transfer, a recent "as-built survey" of the property -- plat 350' contour and 343' contour -- shoreline 340' at full pool. Size of all structures located on lot.

*  Make improvements necessary to lot and structures to present GA. Pwr. standards.

   a) At least 900 livable SQFT                  

   b) Crawl space enclosed or under pinned

    c) Approval of exterior siding               

   d) Approval of roofing material

    e) Georgia Power grants a 2 year period, with agreement, to bring a home up to current standards

*  Call two (2) weeks in advance to set up appointment for transfer of lease.


2007 RATES
1st - 2nd Year       $700 per year
3rd - 7th Year        $900 per year
8th - 12th Year      $1,050 per year
13th - 15th Year    $1,100 per year

NOTE:  Lessee will receive two tax bills each year. The bill received from the County represents taxes on the improvements only on the property. The bill received from Georgia Power Company represents taxes only on the land. Georgia Power Company will mail the tax bill in June of each year. In addition, Lessee will receive an annual bill from Georgia Power Company representing the lease fee for the property (rates specified above.) 

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