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#379 - 01/04/04 07:54 PM Building 8.25 acre lake!!!
big_pond Offline
Lunker

Registered: 11/12/02
Posts: 1027
Loc: North East Georgia
Well, I have been doing the leg work on this project now for 3 months! It's been quite an experiance to say the least...Here are a few steps I have gone through so far and still have a long ways to go..

1) I took for ever to finally find this tract of land and buy it from the timber company. This started way back in April and it closed in August.
When I was searching for this, of course, I wanted to make sure it had the lake site I wanted..
2) After closing on the tract I had the NRCS come out and inspect the site, flag the water line, and flag the center line of the dam.
3) The NRSC then helped me with filling out all the paperwork for the Core of engineers and Georgia Safe Dams.
4) I talked with the core of engineers and they gave me a 404 permit, then I talked with Georgia Safe Dams and they came out and gave me a cat II permit. After that I was legally ready to start.
5) I then had to find a trust worthy timber company to come and log the 17 acres where the lake was going to be.
6) The timber company had clear cut the entire site, and boy it looked like a Tornado hit!! to say the least I was over-whelmed. The wood they logged was mostly saw class HW and pine timber. But later on that day, after the amount I was told I would get, It did not look near as bad, heck that timber sale, will almost pay for the lake!!
7) Now I have to find some way to clean all these brush piles everywhere, and it's alot! And this is where am at now...

I wish I would have taken photos of the place before the timber was cut! I could have kept real good records and gave them to pond boss and they could have done a article on this!
When I figure out what to do next I will keep you all informed.

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#380 - 01/06/04 06:05 AM Re: Building 8.25 acre lake!!!
Bob Lusk Online   content
Editor, Pond Boss Magazine
Lunker

Registered: 04/10/02
Posts: 3064
Loc: Whitesboro, Texas
Well done!
Planning is absolutely the most important aspect of creating a lake.
20 years from now, you will look back and easily see planning, by far, to be your best overall decision.
You will be able to alter your fish, change the water chemistry, aerate...all those management things.
But, if the pond ain't built right at the start, your headaches could have been overwhelming.
It all starts and ends with solid planning. Planning affects you financially, as well as biologically.
Good job, keep us posted.
Take photos.
_________________________
Teach a man to grow fish...
He can teach to catch fish...

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#381 - 01/06/04 02:45 PM Re: Building 8.25 acre lake!!!
big_pond Offline
Lunker

Registered: 11/12/02
Posts: 1027
Loc: North East Georgia
Got a ton of money from the timber sale, hopfully it won't cost but around 5K - 10K to build this large lake...Does any one know how I could do a tax deffered on investment property? In other words is there a way to take the proceds from the timber sale and reinvest it back in building the lake?

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#382 - 01/06/04 05:21 PM Re: Building 8.25 acre lake!!!
Dave Davidson Offline
Lunker

Registered: 04/22/02
Posts: 1892
Loc: Hurst & Bowie Texas
You can get a write-off for clearing of land for grazing purposes.

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#383 - 01/06/04 07:53 PM Re: Building 8.25 acre lake!!!
Sunil Offline
Moderator
Ambassador
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Lunker

Registered: 09/03/03
Posts: 11428
Loc: Somerset, PA
big_pond. On the brush piles, I'd imagine some could be used for various cover. For the ones you don't want, can't you just burn 'em?

On the tax thing...Is there anything else the timber company could do for you with some of their equipment? You could take in less money from them for the timber in lieu of them doing some other type of work you need done in your project.
_________________________
Excerpt from Robert Crais' "The Monkey's Raincoat:"
"She took another microscopic bite of her sandwich, then pushed it away. Maybe she absorbed nutrients from her surroundings."


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#384 - 01/06/04 10:55 PM Re: Building 8.25 acre lake!!!
big_pond Offline
Lunker

Registered: 11/12/02
Posts: 1027
Loc: North East Georgia
You know I never thought of that this a real good idea, I'll see what they can do

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#385 - 01/07/04 06:46 PM Re: Building 8.25 acre lake!!!
ilovefishingmark Offline
Member

Registered: 04/21/03
Posts: 271
Loc: mtn. home, arkansas
be careful with "bartering" and taxes. you may want to check with your cpa...because if you get audited...bartering may get you in a bind ...to bad things aren't like the good ol' days huh?!!

type in bartering and taxes or some combo's thereof and see what you find out..may scare ya! also, i just found out something that may help you. i checked with my financial advisor. all this time i've been paying cash for the dozer work on the lake and property... to make a long story short.... i'm going to take another home improvement or mortgage like loan on my house at current loan rates low around 5 or 6 percent. now, that loan will be tax deductible. then, i'll invest the money into higher yeilding accounts... gaining from both directions...keep more from deductions and earn more from the difference in loan/investment amounts. Some people don't feel comfortable investing like this...me and my financial advisor do. i talked to him about trading dirt for services...i.e. bartering....there are certain ways to soften the process...but you have to be sneaky and make it look really clean on PAPER!! well, bored ya'll enough...don't listen to me...check with your cpa and financial advisor!! mark

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