CLICK below to download THE Reservation Deposit Agreement or the LEASE AGREEMENT
for a Cabin at Crescent Bend

PDf Reservation Deposit Agreement

PDf Lease Document

Questions & Answers

Q. How many cabins are ultimately planned for the site?

Q. How many units are planned initially, and when will the other amenities be built?

Q. What type of title document does a cabin purchaser receive?

Q. Who receives the lot rental, and what assures a purchaser that he maintains control of his cabin and lot for the ninety nine years?

Q. Are there other special provisions in the lot lease and may the cabins be purchased strictly for investment and/or second home purposes?

Q. Since the Cabins are mobile, what are the basic construction materials and are upgrade options offered above the specifications for the model cabin?

Q. How are the cabins taxed and approximately how much is the property tax?

Q. What other amenities are eventually planned for The Point Resort?

Q. Why does the lake water level vary between summer and winter and how much is the variation?

Q. How many Lake Front Cabins are ultimately planned for the site?

A. The Point Resort site consist of two tracks of property, being the eight acre island tract with the restaurant, lake suites, marina access, and the dry stack boat storage, and the second tract across the cove to the south of the eight acre island consisting of an eighteen acre peninsula.  The eighteen acre peninsula tract is site planned for approximately forty cabins plus additional amenities to include an outdoor pool to be located on the main eight acre island tract.  The eighteen acre peninsula is also site planned for walking/jogging and trail connecting the peninsula tract to the island tract.

Q. How many units are planned initially, and when will the other amenities be built?

A. The cabin project Phase One consists of 30 lots being lots numbered 1 through 30.  Phase Two will consist of lot numbers 31 through 40 located on the property bordering Highway 92 and the interior lots located south of the ingress/egress road.

Q. What type of title document does a cabin purchaser receive?

A. Since the Tennessee Valley Authority (TVA) originally owned this property, certain deed restrictions prohibited the sale of permanently constructed buildings to third parties (parties other than The Point Development Group, Inc.).  Thus the development group has contracted with Clayton Mobile Homes to build mobile cabins.  The purchaser of a cabin thus receives a mobile home title and a lot lease that, at the option of the purchaser, extends to 99 years.  The lot rental payments include the base rent and an amount covering the common area expenses similar to a condominium association fee.

Q. Who receives the lot rental, and what assures a purchaser that he maintains control of his cabin and lot for the ninety nine years?

A. The Point Development Group, Inc. is the master lessee, and thus a portion of the base lot rental is received by the development group and a portion is received by the Town of Dandridge, the owner of the fee title.  There will be recorded a non-disturbance and attornment agreement with the city of Dandridge guaranteeing a cabin purchaser continued ownership rights to his lot and cabin so long as timely lot rental payments are made (please refer to the LEASE AGREEMENT for a Cabin at Crescent Bend).

Q. Are there other special provisions in the lot lease and may the cabins be purchased strictly for investment and/or second home purposes?

A. YES!  The lease prohibits permanent residential occupancy as required by TVA.   However, an owner may use his cabin as a second home or vacation cabin exclusively or may, at his option, place the cabin in an overnight rental program managed through The Point Realty and Management Group, Inc. (please see THE CABIN LEASE CONTRACT).

Q. Since the Cabins are mobile, what are the basic construction materials and are upgrade options offered above the specifications for the model cabin?

A. The cabins are solidly built on a mobile frame.  The basic construction is exactly the type of materials found in most stick built homes.  The cabins have a 6/12 pitch roof with a dimensional 30 year shingle.  The cabin frame is all 2x4 construction on 16 inch centers with a double 2x4 wall where the modules fit together.  The exterior is a log or cedar siding with low “E” thermopane windows.  The kitchen has real wood cabinet framing in either oak of cherry and doors with adjustable shelves plus a deluxe appliance package.  Kitchen options would include upgrading to living stone, granite or other countertop materials.  The bathrooms have real wood cabinets, fiberglass tubs, optional ceramic shower stalls and a whirlpool tub in the master bath.  All rooms are sheetrock wall board and the electrical wiring is all copper.  All rooms have 6” baseboard and crown molding.  Options could include tongue and groove pine on one or more walls for those desiring a more cabin appearance inside.  The model cabin comes with a real wood burning fireplace.  Other options would include exterior roof dormers.  Please refer to the cabin specification sheet for additional details.

Q. How are the cabins taxed and approximately how much is the property tax?

A. Since the cabins are titled as mobile homes and situated on a leased lot, the local property assessor does not consider the value of the lot, but only the improvements situated thereon.  Further, the improvements are valued at substantially less than a stick built cabin, thus the owner should realize a substantial property tax savings as compared to other lake front cabins on fee title land.  Cabins utilized as second homes and not placed in the overnight rental program will be considered as residential and a 25% assessment rate will apply.  Cabins placed in the overnight rental program will be considered commercial property and a 40% assessment will apply.

Q. What other amenities are eventually planned for The Point Resort?

A.  Future plans call for an addition to the marina, additional recreational facilities, and additional overnight rental apartments.  A recent addition to the restaurant moved the bar area to overlook the lake and expand the kitchen.  The marina addition would include 60 to 100 boat slips for sale and for rent.  The cabin purchasers will be given first option to purchase a boat slip.  The construction budget and price for the future slips have not been determined.  Once the budget is set and construction commences the cabins owners will be notified to determine if they desire to purchase a boat slip.

Q. Why does the lake water level vary between summer and winter and how much is the variation?

A.  TVA built Douglas Lake to provide recreation, control flooding, and generate hydro-electric power and to maintain navigable river transportation down stream.  Thus the level of the lake varies to maximize these objectives.  However, recently TVA conducted a thorough study to maximize the value given each of these considerations where a greater impact was placed on recreation than has been true historically. Thus water levels are being held higher then in past years.  The marina area floats year around and water recreation is enjoyed on a 12 - month basis.