Herman Brothers Lake and Land Management made a proposal before the Canton Council on Tuesday.
The brothers want to buy some property and update some of the facilities around Canton Lake.
In the proposal the Herman brothers would pay around $226,000 for 44 lakefront lots.
The brothers are also offering to spend another $250,000 on infrastructure and buildings at the campground and beach.
They would lease what's known as "Property Two", which includes the boat ramp and the campground for about $2,000 a year. Each would cost $1,000.
"To clarify any concerns, we're looking to partner with the City of Canton and the Department of Natural Resources to make a somewhat privately managed public body of water, to enhance the recreational opportunities for everybody," stated Nate Herman, Co-Owner of Herman Brothers Lake and Land Management.
To be clear, there will be no fee to use the lake. You would only pay to use the boat ramp, which is the same price users pay now.
Residents pay $45 and out-of-state folks pay $90.
"To use the lake there will be an annual boat sticker, which the rates stay the same for, just simplified. For the campground, the rates are going to stay the same as well," stated Herman.
The brothers want to help build Canton's reputation.
"We love the Canton area and this is an area perfect for hunting, fishing and outdoor recreation. That's what Canton is known for and that is what we want to enhance, the reputation of the entire area," said Herman.
Mayor of Canton Kent McDowell said at first some citizens were negative but, he says, after coming to the public meeting and listening to the Herman's, they were more optimistic.
The development could take around five years to complete.
The next council meeting will be January 16 with a vote expected.