[villages07]

First, a common definition...amenities are the exec golf courses, rec centers, pools, neighborhood watch....these are supported by our monthly amenity fees.

The aforementioned lawsuit (for areas north of 466) had several outcomes...one, the developer paid an agreed upon figure into, for want of a better term, the capital reserve fund for amenities North of 466 and also required establishment of a resident-elected amenity advisory committee. This committee will advise the commercial district on amenity upgrades, usage policies, and priority projects. The commercial district (VCCDD) will still be the governing body. A similar settlement and amenity advisory committee is anticipated for areas S of 466.

The amenity advisory committee is meeting on July 9th at 1pm at Savannah Center. This is an open meeting and I hope to attend. The whole amenity budget process has been a bit of a mystery to me...I have not been able to find any docs on the web that show income, expenditures, and capital reserves. Right now, the process works pretty well. We get, in my opinion, a tremendous value for our monthly amenity fee. My hope is that this will continue beyond buildout.

As Russ stated earlier, the commercial districts buy amenity properties from the developer. We, the residents, pay for these facilities via our fees. About 60% of our fee goes towards the initial purchase of amenity facilities and 40% towards ongoing maintenance and operation. I'm not sure how much, if any, of our amenity fee goes into a long term capital reserve fund for future large scale renovations.