Burying Our Power Lines

The Historic Association is leading an initiative to bury the existing overhead power lines throughout Historic Point Washington. The proposed project includes all power lines within the Historic Overlay, as well as those serving residences along Eden Drive.

The goal of this initiative is to preserve the historic character and natural beauty of the neighborhood, enhance property values, and improve the community’s resilience and preparedness for hurricanes and future storms.

Financing Options

Under Florida Law there are special financial vehicles called MSBUs, which can be used to finance infrastructure projects.

Florida statutory framework
Florida Statute §125.01 gives counties authority to establish municipal service taxing or benefit units, levy special assessments, borrow and expend money, and issue bonds, revenue certificates, and other obligations of indebtedness.

For capital improvements financed through special assessments, Florida Statute §170.09 provides that assessments for capital outlay projects may be made payable in equal installments over a period “not to exceed 30 years.”

What is an MSBU

An MSBU (Municipal Service Benefit Unit) is a district created by Walton County to fund improvements within a specific area. Walton County secures financing to pay for the improvements upfront, and the property owners who benefit repay the cost over time through an annual assessment added to their property tax bills.

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Step One in Obtaining an MSBU

To establish an MSBU, the area benefiting from the proposed improvement must first be clearly defined on a map. This boundary identifies the properties that will benefit from the improvement and whose owners will share in repaying its cost.

View Proposed MSBU

MSBU Planning and Cost Analysis

To move an MSBU forward for consideration by the Board of County Commissioners, the property owners within the proposed MSBU area must hire a qualified firm to evaluate the project. The firm will determine what work is needed, obtain detailed cost estimates, calculate the total project cost, and determine how that cost would be divided among the participating property owners and repaid over time.

Providing this analysis to the BCC demonstrates that the property owners are organized, understand the scope and financial requirements of the project, and are serious about moving forward with the proposed MSBU.

Paying for the Cost Analysis

The Historic Point Washington Association is currently working to identify the right qualified firm to conduct a detailed evaluation of the proposed underground power line project. We are asking property owners within the proposed MSBU area described above to share in the cost of this initial analysis.

Once a firm has been selected and a price for the analysis has been established, we will provide property owners with the exact amount requested from each participating property owner. Contributions can then be made directly to the Historic Point Washington Association. A detailed accounting of all funds collected and expenses paid will be provided to participating property owners to ensure complete transparency throughout the process.

The completed analysis will provide our community with a clear roadmap for the proposed project, including the scope of work, estimated costs, and how those costs could be distributed among property owners and repaid over time. With this information in hand, property owners will be able to make an informed decision together about whether to proceed with the creation of an MSBU and the under grounding of our neighborhood’s power lines.

Contributing to this initial analysis does not commit a property owner to supporting or participating in a future MSBU. It simply allows our community to obtain the information necessary to understand the project, its costs, and whether moving forward makes sense for Historic Point Washington.