Leicester Homeowners Agree To Pay $30K To Settle Lake Lawsuit

LEICESTER (CBS) – A property battle will cost the residents who live on the shores of Lake Cedar Meadow in Leicester tens of thousands of dollars.

It all began 20 years ago when the landowners association tried to buy the lake and land under it from the original owner for about $87,000. When they couldn't agree on a price, the landowners association took the land by eminent domain because they were worried about the integrity of dams.

The owner filed suit and has just won a judgment of $1.8 million.

On Wednesday night, residents agreed on a settlement that would cost each homeowner about $30,000.

Even newer residents would have to pay.

"I didn't even know what I was getting into," says Mario Borci. "We want to stay here, we've been here for two years, we don't want to have to move."