Lake San Marcos Improvements

As you may or may not know, the Citizens Development Corporation (CDC) is in charge of the facilities and lake at Lake San Marcos.  We have all seen it go downhill over the last few years, but if you are paying attention you can now see very positive things happening.   From time to time I will publish some of the changes in this blog.

Citizens Development Corporation (CDC) has filed a proposed Plan of Reorganization with the Federal Bankruptcy Court.  That plan, if approved, would control how CDC will repay its creditors and eventually exit from bankruptcy.  The next Court hearing on the Plan has been rescheduled for Aug 21. Conditions look favorable for the proposed plan to be approved.

Although approval of CDC’s proposed Plan of Reorganization has been delayed, CDC continues to make needed improvements in the facilities. Attached are photos of the Children’s pool resurfacing which has occurred over the last two weeks. This project, designed to make the pool usable this summer, has been completed, the pool has been refilled, and is again open for use.

Significant capital improvements cannot be started until CDC’s Plan of Reorganization is approved by the Courts and the creditors.  Once that is accomplished both of the pools are expected to see a major remodeling going far beyond the short term fixes required to keep them operational.

To find out more about the Lake San Marcos area or to see great Lake San Marcos homes, contact Gary Harmon, a Lake resident.

Information from “Friends of Lake San Marcos.”