WANTAGE — The Wantage Township Committee introuced an ordinance on Feb. 20 to bill a special assessment for the Lake Neepaulin Dam reconstruction loan.
A total of $1,200,825 must be paid back to the state epartment of Environmental Protectional Agency over the next 20 years.
The committee will vote to adopt the ordinance and hold a public hearing on March 6.
If the special assessment ordinance is passed, Tax Assesssor Kristy Lockburner will conduct a separate public hearing on March 27, wher eshe will give all parties affected an opportunity to voice possible concerns.
According to the law, the tax assessor will assess the property owners in the R2 Zone, which was divided into three tiers. Tier I includes 43 lakefront properties with one side on the lake. They will pay 35 percent of the loan. Tier II consists of 39 lake view properties that will pay back 30 percent of the loan, while Tier III, which includes 624 lots, is on the hook for 25 percent of the loan.
The Friends of Lake Neepaulin will be responsible for 10 percent of the loan, which must be paid twice per year.