PALMYRA, VA (CVILLE RIGHT NOW) – Lake Monticello residents are being surveyed on the Owners’ Association proposal to repay COVID loans the neighborhood recently learned they now owe using the Emergency Reserve Account. The feds earlier this year informed the association $646,000 the LMOA got during the pandemic to pay salaries of service personnel were not eligible for forgiveness as attorneys had advised at the time.

The board issued a statement in support of the vote, at its meeting Thursday outlining the ERA originated in 1998, when LMOA sold its water and sewer system to Aqua for $8 million. The emergency fund has previously been used for such things as dam repairs in 2011, for a loan to fund the R&R projects for the Clubhouse and Fairway building in 2015, and for the pool in 2017. General Manager Tom Schauder provided such additional information about it, noting that the ERA is not supported by dues. Click here for full details.