In a deal consummated Friday (12.29.17), Garner Lake was purchased by lake residents from Terry Edwards, president of Lake Management Association Inc.
Dave Brown, president of Garner Lake Homeowners Association (GLA), said, “Garner Lake is now owned by Garner Lake Management, LLC, (GLM) which is wholly owned by Garner Lake Homeowners Association, Inc.
“We are a non-profit (but not a charity). The lake will not be managed for profit for the first time in its history. The Boards of both organizations will be volunteer. At this time, we plan on having no salaried employees unless it becomes obvious that we need such. GLA will continue to exist, in addition to GLM.”
He said GLA was founded about 20 years ago with one of its primary goals to take control of the lake, by and for the benefit of the lake residents. “Events transpired to prevent that from happening. Until now.”
Mr. Brown said the Lake is 240 acres. There are six neighborhoods with lake access and one large parcel for future development. There are 625 homes with 261 of those homes fronting the lake. It is a private lake, not open to the public and is the largest lake in Shelby County.
According to the Shelby County Assessor’s office, appraisal of the lake is $164,700.
The lake was part of Lakeland Amusement Park opened in 1961 by Louis Garner but closed in 1977, possibly because of the opening of Libertyland in Memphis (which closed in 2005). Link to the Park and Lake, created by Lake Resident Chip Averwater: https://lakelandlake.com/lakeland-amusement-park/
Garner Lake Homeowners Association (GLA) has operated for all these years as a volunteer organization dedicated to preserving the lake and surrounding property values, said Mr. Brown. “Not one single person has profited personally from his or her service to GLA. That will continue to be true. While mistakes will be made, our mission is pure and we pledge to continue to make Garner Lake the great place to live that is already is.”
He said one of the goals of GLM is better funding to pay for and maintain the lake. “Lake Management Association is financing our purchase over a ten-year period, interest-free.”
He noted there will be a meeting for all paid members of GLA in a few weeks.
… Feature photo from Chip Averwater’s website. Other photos courtesy of Dave Brown.
