Quote:
Originally Posted by Warren Kiefer
The developer has total control over the CCDD's. The CCDD boards are elected by landowner elections, the only landowner in the Districts is the Developer. Get the picture ??? One could conclude that the CCDD boards would do exactly what the Developer wanted them to do. Most of the board members are employees of the Developer. I recall that at one time one of the board members of the VCCDD was the caretaker of the buffalo herd.
|
I understand that; you are correct; and I hope that I never said anything to the contrary. It is why the IRS has said that the Center Districts can no longer issue tax-exempt bonds.
Developer control over those governmental units does open avenues for potential abuse in dealings between the Developer and the Districts, and some of those dealings
could negatively impact homeowners. This is one of the reasons why we need a genuine homeowners' association to represent our interests.