Lake Norman homeowners stuck with paying for streets

The owner of Charlotte-based Provident Development Group said his company is still struggling from the recession and is unable to pay $15,000 it owes for road improvements in the Highlands of Lake Norman community near Troutman in Iredell County.

“I felt very bad about it,” owner Tom Waters said Monday. “We were victims of the recession, and as much as I’d like to do about it, we don’t have the resources. It hit every one of our properties.”

An Iredell County District Court judge in late August ordered Provident Development Group to pay $14,935 in compensatory damages to the Highlands of Lake Norman Owners’ Association Inc.

The costs will be taxed against the company, Judge Deborah Brown ruled.