LAKE OF THE OZARKS, Mo. — One year after filing Estoppel Certificates, used by Ameren Missouri to “clarify and affirm” their ownership of property located within the original Federal Energy Regulatory Commission (FERC) Project Boundary, the power company released its first piece of land.

In May, Ameren transferred ownership of three tracts of land in the Silver Moon Estates No. 1 to the Bank of Versailles, who obtained the property through foreclosure. Under the agreement, filed with the Morgan County Recorder of Deeds, Ameren will retain an easement to flood.

According to Bank of Versailles President Dave Baumgartner, the tracts included six lakefront lots and two homes. All but one home was above the 662 contour line; about two-thirds of that home sat below 662. However, he said that when Ameren redrew the project boundary last year, they “carved out,” around the house, dropping the project boundary slightly lower. He also said under the agreement, Ameren will retain ownership of any land below the revised project boundary.

Baumgartner said that as part of the process, the bank was required to obtain a survey, which Ameren then used to determine a fair market value for the property. Although he declined to reveal the amount of money the bank was asked to pay, he said it was “not unreasonable.”

He also said the process took about a year.

“But we were the first one to file. It’s my understanding that other people will make application so I don’t think it will take as long for them,” he said, adding that he was told several others are in the process of requesting release of their land.

According to a form from Ameren’s real estate office, the following steps will be required for “the conveyance of Ameren Missouri owned property formerly located within the FERC project boundary and adjacent to the Lake of the Ozarks, lying between Ameren’s current ownership line (the original project boundary) and the new project boundary line, which typically is located at the 662 contour elevation.”

1) Ameren Missouri will provide an estimated market value of the property to be conveyed to the requesting party.

2) If the estimated market value is acceptable, the requesting party must provide a metes and bounds legal description of the property to be conveyed, which may require a land survey of the property.

3) Ameren Missouri will utilize the provided legal description to determine the final market value of the property to be conveyed.

4) If the final market value is acceptable, Ameren Missouri will prepare a Contract of Sale for the requesting party’s review and signature.

5) After the contract has been signed, Ameren Missouri will obtain and provide to the requesting party a title commitment for the property to be conveyed.

6) Ameren Missouri will prepare a Cross Quit Claim Deed for the conveyance of the property. Under the Cross Quit Claim Deed, Ameren Missouri will be quit claiming the property to the requesting party and retaining the right to flood the property. The requesting party will be quit claiming to Ameren Missouri any and all interest they may have lying below the new project boundary line.

7) Ameren Missouri will report to the IRS the final market value of the property for the transaction. Any and all taxes associated with the conveyance shall be the sole responsibility of the requesting party.

8) The requesting party will be responsible for obtaining title insurance (if they choose to), record the Cross Quit Claim Deed and provide a copy of the recorded deed to Ameren.

In mid-June, one year after FERC’s order to comprehensively revise the project boundary at the Lake to 662 feet and below for certain structures, Ameren recommended to FERC that they allow 215 decks, patios, gazebos and similar structures to remain within the project boundary. As part of their order, FERC required Ameren to inventory and recommend a plan for those non-conforming structures. They completed that assignment over the past year.

In a press release discussing their recommendation to FERC, Jeff Green, supervisor of Shoreline Management for Ameren, said that Ameren was committed to being a good steward of the Lake and had no reason to believe the structures would have any impact on project purposes, that they would adversely affect the shoreline environment or that they would affect Ameren’s ability to safely manage the Lake.

However, he also said no new decks, patios and gazebos would be allowed on project lands below the 662-foot elevation.

In the meantime, last month Circuit Court Judge Kenneth M. Hayden ruled that several adverse possession/quiet title lawsuits filed against Ameren can proceed. Read that story, which appeared in the June 2013 issue of the “Lake of the Ozarks Business Journal,” online at www.busjournal.com.

Ameren responded in writing to that story in a letter to the editor, saying:

“The Company believes that the Court correctly ruled that the fee-ownership rights reflected in Ameren Missouri’s 1932 deed is clear and unambiguous. The Court also ruled that it was premature for the Company to seek dismissal at this stage of the litigation. We further note that this litigation -- which seeks to divest Ameren Missouri of its property rights -- is sponsored by title companies who failed to notify homeowners of the Company’s property rights. We urge those title companies to resolve policy holder claims directly rather than initiating lawsuits against Ameren Missouri.”

The Lake of the Ozarks Business Journal provided this news story to LakeExpo.com for republication. For a hard copy, pick up The Lake of the Ozarks Business Journal at newsstands across the Lake area. The Lake of the Ozarks Business Journal is a respected monthly news magazine providing accurate, relevant news and information to area readers.


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