Burnsville Lake Topics: APCO Leases Question(s)?

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	Name:	Feb -
	Subject:	APCO Leases Question(s)?
	Date:	7/12/2006 6:46:28 AM

No disrespect intended toward anyone, but I do not believe you or JIM are thoroughly knowledgeable on the subject. I think you need to acquire a copy of the APCO contract and read the contract. It states you will never loose your home to APCO unless you violate the contract. For any reason APCO terminates your lease contract without it being your fault then they must pay you current fair market value of the inprovements made on the leased property. Fair market value is established by a panel of appraisers; an appraiser representing APCO, an appraiser representing you and a third appraiser as an independent. I have never heard of this happening. You can ask APCO if they have ever taken a piece of leased property back without there being fault or the desire for such (turn back) by the leasee. I don't think it has ever happened. Once again, in my personal opinion APCO leased property is the second best way to get a place on Lake Martin. We all agree deeded property is the preferred but most expensive. My Brother won leases to three APCO lots, build new upscale cabins on all three and sold all with a profit. two of the places sold prior to construction being completed. The demand was that great. This all happened within the last three years. There are not that many fools out there.

Two months ago, I pointed out the article by Ron Morgan in "Lake Magazine" about Lake Martin leased property. Ron is a professional appraiser on Lake Martin. He is well respected by bankers, realtors, and contractors conducting business on Lake Martin. His article gives you a professional opinon on leased property. I suggest you and Jim read the APCO contract and Mr. Morgan's magazine article prior to rebutting this post. I will listen and respect an educated opinion on the subject.

I understand JIM had a sour experience sometime in the past. I do not know all the details, but it has left a bad taste in his mouth toward APCO leasing. He did say the lease rates went up, but that is explained in the contract to include when and how the escalations will be computed. It is done in a standard cost of living (economic) adjustment explained in the contract. JIM also had a bad experience with all his friends and family wanting to come enjoy the Lake at JIM's expense and labor. Now, I do not know whether JIM's experience was with APCO or some other middle person that may of caused his sour experiense. That maybe another telling point in this legacy.

APCO leasing and buiding or buying a APCO leased property maybe the only way some can get on the Lake with rising cost. The demand for deeded property far exceeds the supply. A cabin on an APCO leased property is far more appealing than a condo or apartmenent on the Lake.

There was and there still is a lot of APCO leased property of Lake Martin, and I have heard of no documented horror stories. I do not pay much attentions to "Wanna a Bees'' that cry because they do not have or can not afford Lake Martin property. Sounds more like an excuse vs. a reason. There are probably plenty of APCO leased property owners on the Forum who are enjoying Lake Martin Living as often as they can. Lets hear from them.

Show me the facts. I am not associated with Alabama Power Company, Ron Morgan, or and other enity on the Lake. My property is deeded and owned by my lender and I.