Lots

Georgia Power leases are divided into two Categories, "Lease Access Lots" & "Lease Lots." The following text explains the provisions and differences. The 350' contour line represents 350' above sea level.

 

 

 

Lease Access Lots (Georgia Power owns the land from the lake to the 350 contour line, lessee owns the remaining land)

 

1)  Georgia Power and the new lessee sign a 15 year lease.

 

2)  No transfer fee

 

3)  Lessee pays Georgia Power $100 per year for the lease rights

 

4)  All lease access lots transfer automatically with the deed to the adjoining Fee Simple Lot, (the deeded property) 

 

Lease Lots (All the property is owned by Georgia Power)

 

1)  Interested individuals purchase the rights of a Georgia Power Lease from the current leassee.

 

2)  Georgia Power and the new Lessee sign a 15 year lease.

 

3)  A $1500 non-refundable transfer fee is paid to Georgia Power.

 

4)  Lessee is responsible for all county property taxes.

 

5)  Current As-Built survey of property.

 

6)  The 2003 lease rates are as follows:

    

     a.  Years 1 to 5, $700 a year

 

     b.  Years 6 to 10, $900 a year

 

     c.  Years 11 to 15, $1050 a year

 

7)  Georgia Power requires that all homes meet certain minimum specs

 

     a.  At least 900 livable square ft

 

     b.  Block or brick under pinning

 

     c.  Vinyl siding, wood siding, or other siding approved by Georgia Power

 

     d.  Asphalt shingles or other roofing material approved by Georgia Power

 

     e.  If a current leased property has a home that does not meet these

          requirements, Georgia Power grants a 2 year period in which to bring thw

          home up to specifications