Deep Creek Lake Buydown Update

Deep Creek Lake Buydown

Deep Creek Lake Buydown Update

The following information might be important for any lakefront properties that have not yet decided to participate in the buydown program. This might be the last opportunity to take advantage of this program.

From the Department of General Services:

The State of Maryland, Department of General Services, Office of Real Estate is close to finalizing the Deep Creek Lake Buy-down Project per House Bill 356 approved in the 2015 legislative session.  This project gives owners of certain properties adjoining Deep Creek Lake the right to purchase land lying contiguous to their properties and Deep Creek Lake, subject to a conservation easement.  The re-opened project will be administered in a manner similar to the program previously authorized by the Board of Public Works on February 9, 2000 as Agenda Item 39-RP. 

A portion of the proceeds received from any buy-down sale will be used to reimburse the State for reasonable costs and expenses incurred.  All proceeds in excess of the reimbursement amount will be credited to the Deep Creek Lake Recreation Maintenance and Management Fund.  The project is in effect from October 1, 2015 through October 31, 2017. 

For additional information about the project, please contact Ms. Tanja Rucci, Buy-down Coordinator, at 410-767-4303 or tanja.rucci@maryland.gov.  Property owners interested in purchasing a buy-down parcel must download an “Intent to Purchase Buy-down” form from the DGS web-site (see link below) and then complete and return it to Ms. Rucci at the specified e-mail address. 

An “intent to purchase” form is available here:
http://dgs.maryland.gov/Pages/RealEstate/index.aspx

 

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