55+ Communities that go under

Closed Thread
Thread Tools
  #1  
Old 10-18-2014, 11:23 AM
upstate upstate is offline
Senior Member
Join Date: Apr 2013
Posts: 327
Thanks: 2
Thanked 14 Times in 8 Posts
Default 55+ Communities that go under

We are looking at age restricted communities, and while some are appealing one of our concerns is doing any of them have financial, maintenance, etc issues down the road. Since we are seasonal residents of the TV this question would be regarding a permanent home. Thanks for any assistance.
  #2  
Old 10-18-2014, 11:52 AM
Bogie Shooter Bogie Shooter is offline
Sage
Join Date: Sep 2008
Posts: 18,764
Thanks: 10
Thanked 5,301 Times in 2,369 Posts
Default

Why look anywhere else?
__________________
The further a society drifts from truth the more it will hate those who speak it. George Orwell.
“Only truth and transparency can guarantee freedom”, John McCain
  #3  
Old 10-18-2014, 01:07 PM
upstate upstate is offline
Senior Member
Join Date: Apr 2013
Posts: 327
Thanks: 2
Thanked 14 Times in 8 Posts
Default

Quote:
Originally Posted by Bogie Shooter View Post
Why look anywhere else?
TV will not make any changes to their home plans, there are other communities that will. We want a home that we can age in place, wider doors and hallways, as an example. In addition, we do not want to be in Florida year round.
  #4  
Old 10-18-2014, 01:55 PM
rhood rhood is offline
Veteran member
Join Date: Sep 2011
Posts: 658
Thanks: 3
Thanked 148 Times in 62 Posts
Default

If you have to have your own way, you won't be happy here.
  #5  
Old 10-18-2014, 03:09 PM
janmcn janmcn is offline
Sage
Join Date: Oct 2011
Posts: 5,298
Thanks: 0
Thanked 2 Times in 2 Posts
Post

Quote:
Originally Posted by upstate View Post
We are looking at age restricted communities, and while some are appealing one of our concerns is doing any of them have financial, maintenance, etc issues down the road. Since we are seasonal residents of the TV this question would be regarding a permanent home. Thanks for any assistance.
The Villages has some huge financial issues on the horizon. The IRS investigation is into the hundreds of millions of dollars in penalties and interest. When the bill is finally tallied, it remains to be seen who will end up paying.

The transfer of the amenities south of CR466 from the developer to the districts is another big ticket item. If history repeats itself (as in what happened north of CR466), the developer will be asking for much more than what it cost to build said amenities.
  #6  
Old 10-18-2014, 03:33 PM
upstate upstate is offline
Senior Member
Join Date: Apr 2013
Posts: 327
Thanks: 2
Thanked 14 Times in 8 Posts
Default

Quote:
Originally Posted by rhood View Post
If you have to have your own way, you won't be happy here.
We are very happy here, as snowflakes.
  #7  
Old 10-18-2014, 04:22 PM
DEWRDW DEWRDW is offline
Senior Member
Join Date: Jan 2013
Posts: 168
Thanks: 0
Thanked 0 Times in 0 Posts
Default

What happened north of CR466 when the amenities were transferred?
  #8  
Old 10-18-2014, 04:27 PM
DEWRDW DEWRDW is offline
Senior Member
Join Date: Jan 2013
Posts: 168
Thanks: 0
Thanked 0 Times in 0 Posts
Default

I too would like to know of an age restricted community that is financial strong between here and Fort Myers - if anyone knows of one on the Gulf side, please let me know - thanks.
  #9  
Old 10-18-2014, 04:35 PM
janmcn janmcn is offline
Sage
Join Date: Oct 2011
Posts: 5,298
Thanks: 0
Thanked 2 Times in 2 Posts
Post

Quote:
Originally Posted by DEWRDW View Post
What happened north of CR466 when the amenities were transferred?
http://www.buzzfeed.com/likethebread...retirem#cma11w

This writer explains how it was done in very easy to understand language. However, he doesn't give any footnotes for his information. As I recall, his info is accurate.
  #10  
Old 10-18-2014, 05:10 PM
tommy steam tommy steam is offline
Gold member
Join Date: Dec 2011
Location: New York, Georgia , Arizona, Vietnam 66 67
Posts: 1,363
Thanks: 0
Thanked 6 Times in 6 Posts
Default

Interesting article.
  #11  
Old 10-18-2014, 07:30 PM
kstew43 kstew43 is offline
Gold member
Join Date: Jul 2011
Posts: 1,130
Thanks: 184
Thanked 60 Times in 24 Posts
Default

Quote:
Originally Posted by DEWRDW View Post
I too would like to know of an age restricted community that is financial strong between here and Fort Myers - if anyone knows of one on the Gulf side, please let me know - thanks.
we have a home in the plantations of leesburg, lake county, which is actually in Okahumpka, about a 20 minute drive to brownwood.. we purchased a prime golf front lot stucco home $245. The HOA was and still is $86 a month, past 8 years. we are a true gated community and you are not allowed to enter unless you have gone threw security. They write down your plate and you are given a pass to display on your windshield.

The subdivision was transfered to the homeowners i believe 3 years ago when they sold there last new home, and the business managers have invested the money well. This is the reason the hoa has not changed and the reserves are in the millions.

The plantations has almost the same ammenities of the villages, just not the population. no free golf but you can join and pay for a membership.....golfs not my thing, but I do like the free hot tubs, exercise rooms, sauna and steam baths. tennis, botche ect all open till 11pm every night.....clubs are open to whatever you want to create. All included in the 84 hoa...no bonds either.

We puchased a home in the villages as well to take advantage of rental income.

Just a thought.....you might want to check out. plantations of leesburg.
  #12  
Old 10-18-2014, 09:59 PM
justjim justjim is offline
Sage
Join Date: Feb 2012
Location: Illinois, Tennesee, Florida, Village of Caroline, Sanibel, LaBelle
Posts: 5,620
Thanks: 61
Thanked 1,298 Times in 536 Posts
Default

There are a number of retirement communities in Central Florida but none compare to The
Villages. The IRS issue is with the Developer---not the residents.
__________________
Most people are as happy as they make up their mind to be. Abraham Lincoln
  #13  
Old 10-19-2014, 02:40 AM
Bonanza's Avatar
Bonanza Bonanza is offline
Soaring Eagle member
Join Date: Oct 2013
Posts: 2,314
Thanks: 27
Thanked 289 Times in 131 Posts
Default

Quote:
Originally Posted by janmcn View Post
The Villages has some huge financial issues on the horizon. The IRS investigation is into the hundreds of millions of dollars in penalties and interest. When the bill is finally tallied, it remains to be seen who will end up paying.

The transfer of the amenities south of CR466 from the developer to the districts is another big ticket item. If history repeats itself (as in what happened north of CR466), the developer will be asking for much more than what it cost to build said amenities.
Quote:
Originally Posted by justjim View Post
There are a number of retirement communities in Central Florida but none compare to The
Villages. The IRS issue is with the Developer---not the residents.
There is no question who will be paying.
We, the residents, will be the ones paying, as we have been up until this point.

Yes, it is we who are footing the bill, even though the IRS bond issue is with Morse, not us.
Thus far, the attorney fees are somewhere around one million.
Morse has not paid one cent.
The money has come out of our amenity fee.

Like it or not, we have no say in this matter.
__________________
A Promise Made is a Debt Unpaid
~~ Robert W. Service ~~
  #14  
Old 10-19-2014, 05:44 AM
graciegirl's Avatar
graciegirl graciegirl is offline
Sage
Join Date: Mar 2008
Posts: 40,004
Thanks: 4,850
Thanked 5,493 Times in 1,903 Posts
Send a message via AIM to graciegirl
Default

Quote:
Originally Posted by Bonanza View Post
There is no question who will be paying.

We, the residents, will be the ones paying, as we have been up until this point.

Yes, it is we who are footing the bill, even though the IRS bond issue is with Morse, not us.
Thus far, the attorney fees are somewhere around one million.
Morse has not paid one cent.
The money has come out of our amenity fee.


Like it or not, we have no say in this matter.
OH STOP.
That is simply not correct.

The lawsuit is challenging whether a CDD can issue Tax free municipal bonds. We are not the only CDD form of government in Florida but we are by far the most successful. Possibly the most successful way of running a town our size in the world.

The attorney fees are protecting the matter of the CDD form of management, which is what makes this place so special and so well run and not ordinary. In essence it is keeping the place like it is, but some of the outside interests and Morse bashers don't like that.

PLEASE see how much better it is than if it were run like a HOA. Someone would have spent our money for a big performance center that could not sustain itself and cut back on the flowers and the trimming. Someone would decide it would be cheaper to paint all of the rec centers the color of their favorite sports team.

Something like the POA would be suing the developer at every whip stitch and the pools would be overtaken by aliens and the chairs would be inhabited by the urban poor from Orlando.

Sorry. Got carried away. The last few statements were meant as sarcasm and have nothing to do with my opinions or those of my heirs and assigns.

Whoops. I promised myself I would stay off this forum.
__________________
It is better to laugh than to cry.
  #15  
Old 10-19-2014, 08:53 AM
Bobcuse Bobcuse is offline
Senior Member
Join Date: Aug 2009
Location: Sunset Pointe
Posts: 302
Thanks: 1
Thanked 46 Times in 10 Posts
Default

You have an eloquent way with words Gracie and I love to come on here to watch you keep everyone in line. Keep up the excellent work...and maybe you should be tweeting too! If you did I would get a twitter account and follow you.
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 06:03 PM.