Earlier this week seven park board trustees handed in their resignations. Now, with new leaders, a plan has been released to handle that repayment.
The Conneaut Lake Board of Trustees submitting a proposal to the Crawford County commissioners on ways to handle a financial mess. That mess, more than $900,000 worth of back property taxes.
The proposal lays out five major points.
First, the commissioners would freeze taxes, penalties and interest on the total outstanding balance as of the date of agreement. All the back taxes are expected to be repaid in four years.
Second, the trustees would make a $100,000 payment upon date of agreement.
Third, the board will immediately pay an amount equal to all Beach Club related insurance proceeds received by the trustees.
Fourth, the trustees will pay the balance due upon the sale of land or within four years of agreement.
And finally, trustees of Conneaut Lake park to remain current on all taxes during the period of agreement.
Again, the Crawford County commissioners have said that the park be sold for back taxes in late September unless they were given an acceptable plan for repayment.
The possibility of selling some of the lakefront property is up in the air for a way to repay those back taxes, but only time will tell as to what exactly will happen.
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