Lake Sinclair Properties Lake Sinclair Waterfront Specialist

Ownership and GA. Power Leases


There are three types of property ownership on Lake Sinclair property.  Regardless of the type of ownership, what can be built on the lake (seawalls, docks, boathouses) is managed and approved by Georgia Power, and the guidelines and standards of improvements at the shoreline are the same, no matter the type of ownership.

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

2) Fee Simple/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 strip is leased for $100 per year.  The right of lease comes with ownership of the attached property. There is no transfer fee. Fee will be $300 per year begining 01/01/2007

3) Georgia Power Leased Lots - Georgia 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 Georgia Power Company in 2006.

Requirements to transfer a Georgia Power fully leased lot:

*  $3000 transfer fee

*  Conditional Bill of Sale signed by seller and buyer (form supplied by Georgia Power)

*  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 Georgia Power 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     aprox $900 per year                           8th - 12th Year      $1,050 per year

3rd - 7th Year     aprox $1200 per year                           13th - 15th Year    $1,100 per year

NOTE:  Lessee will pay property taxes on the lot.  Georgia Power will mail the tax bill in June of each year. 

The complete shoreline management guide can be found at the following link:

http://www.georgiapower.com/lakes/sinclair_shoreline.asp

 

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