MADISON COUNTY, Ind. - A proposed Madison County project could become central Indiana's newest reservoir.
The Mounds Lake Reservoir project would stretch from Anderson to Yorktown. The $400 million reservoir could provide billions of gallons of water for central Indiana, drawing on the White River for its supply.
Supporters said the reservoir would mitigate droughts and flooding. Opponents, including environmental groups, say the project would cause irreversible damage to the White River, forests and Mounds State Park.
The 2,100-acre lake would remove 270 mobile and modular homes, 80 houses and 80 businesses.
Some homeowners who will have to sell their property said it is a necessary project. David Schulte owns several rental properties close to the proposed lake’s dam.
"To me, it's going to be a boon for Madison County and for Anderson and the entire area. We're depressed and we need help. Yes, it's at a cost. Everything is," Schulte said.
Despite environmental concerns, some homeowners said they will support the project if they are given a fair price for their properties.
Brent Hagan is one of the reservoir’s biggest opponents. He has put protest signs along the nearby White River.
"Besides the fact I'll lose my home, my grandmother's been here since 1929 across the street from me. Nobody came down here and consulted us," Hagan said.
Madison County officials will hold a series of public meetings this week. If approved, the new reservoir is expected to be filled in seven years. Officials said no tax dollars will be used to finance the project.
More information on the public meetings here.
Follow Chris Proffitt on Twitter: @chrisproffitt
BMV: 250 drivers asked to give back tax refunds
The Indiana Bureau of Motor Vehicles is asking more than 250 motorists to pay back refunds they received just one month after $29 million in…
Mgr. accused of stealing $4K in refund scheme
A former assistant manager at an Indiana truck stop was arrested on felony theft charges after a lengthy investigation by state police.
Officer-involved shooting reported on south side
One person was shot in an officer-involved shooting Monday afternoon on the city's south side.
PD: Man assaults, robs 67-year-old grandmother
An Indiana man spent the weekend in jail after a violent robbery of one of his own family members, police said.
Burst manhole rattles Indianapolis workers
Downtown workers said they felt it when a cover burst out from a manhole.
WATCH: Lauren Hill plays again, scores again
The Mount freshman with inoperable brain cancer wasn't finished playing after all.