[Goldwingnut]

The bonds at Fenney seem consistent with the bonds from districts 8, 9, & 10 when adjusted for inflation. The numbers below show the districts, the year of the bond issue, the number of acres the bond was used to develop, and the net cost per acre to develop. Obviously the cost to develop the respective districts is going to vary significantly depending on the existing land conditions and the amount of infrastructure to be build. That being said, from D8 to D12 over the 8 year gap between the bond issues the pricing change represents about a 2.5% per year increase in cost, not unreasonable in the construction industry.

Don't forget each unit within the district will have a different bond allocation depending on the number of homes and acreage of the unit/subdivision.

Also, the bonds do not cover the cost of building the amenities in the district, this is part of the developers cost burden which is why they own them (in D12) and operate them.

Just looking at the numbers the bond assessments seem in-line with the rest of The Villages properties.

District-Year----Bond--------------Acres------$/Acre
D8------2008---$41,790,000.00--429--------$97,412.59
D9------2011---$55,115,000.00--593--------$92,942.66
D10-----2012---$77,040,000.00--701--------$109,900.14
D11-----2014---$56,120,000.00--498--------$112,690.76
D12-----2016---$57,825,000.00--473--------$122,251.59