More than 200 lots in Lake Sherwood were purchased for $1 each by the Lake Sherwood Estates Association, which is comprised of homeowners of the gated community.The association plans to further develop the properties, but maintain the gated community’s forest aesthetics.“We were made aware of 209 properties that were in possession of Warren County and we were able to have this auction take place and take ownership of those properties in Lake Sherwood,” said Lake Sherwood Estate President Jeff Hedrick.Hedrick said the county agreed to forgive any back taxes owed on the property prior to the auction.“We have a long-term plan, where we hope to use those properties in the future,” he said. “One of our priorities is to maintain the green space in Lake Sherwood. We love our woods and our lakes. We have to make sure we have a buffer and it’s not just homes on top of homes.”Lake Sherwood is a private, gated community in southeast Warren County that features six lakes with its name coming from the main 135-acre lake, which Hedrick calls the area’s crown jewel.The community is a mixture of residential homes as well as developed and undeveloped lots with many of those lots going untouched since the county assumed ownership of them in the 1990s.Hedrick said the main motivation behind purchasing the land at auction was maintaining property values. With nine members in tow, and two members manning computers, the Lake Sherwood Estate Association seemed ready for combat, but instead found the seating area at Monday’s Warren County Commission meeting vacant.Instead of going back and forth in a bidding war, the association picked up each of the properties for $1 and also will have to pay $30 recording fees for each parcel purchased.With the association purchasing the properties before the end of the fiscal year, it is likely the county could have the properties back on the tax rolls by the end of the year, which would also coincide with the community’s 50th anniversary.“There is a sense of excitement in our community that has not been seen in years. We’re looking forward to it. I think we represented our members well today,” Hedrick said. “It was a good day for Lake Sherwood and a great day for Warren County.”Lake Sherwood Estates