[Goldwingnut]

Originally Posted by Robbie0723

Thanks Don, another great flight video with very articulate explanation of how the community services, facilities and infrastructure are funded.

I am just introduced to The Villages, but at the end of the day, it seems the complex architecture of the fundings allows the developers to do things quickly and cost effectively other communities dependent on voter approval can not. Nothing is perfect but as long as what is good for the developers is substantially good for the homeowners, I'll have no worries.

The flight path near the end was awesome and made me laugh, I encourage people to watch the entire video :-)

Construction on my home in MG likely will not start until October so your videos are very useful for me.

Thank you so much!

Robbie,
The Developer, contrary to popular belief, has very little to do with most of the financial happenings here in The Villages.

From the Bonds, they get paid for for their work to do the development and infrastructure, after that they are no different that the rest of the homeowners. Any unsold properties at the beginning of the year they have to write a check to cover the bond assessments (this help explain the aggressive marketing of new homes in the developing areas).

The Maintenance Assessment they get nothing from. They may get a little if they are providing contracted services but this is few and far between. Here again if the property is unsold, they pay just like the rest of us.

The Amenity Fee are a little different. North of SR44 they get nothing from the money the residents pay, it all goes to operate and maintain the amenities and to pay for the municipal bonds that were issues by VCCDD and SLCDD to purchase the amenities. South of SR44 they own all the amenities and collect the monthly fees. The have to pay the District office and Recreation department for the staffing and operation of the amenities they own. The same is true for the 5 golf courses south of SR44, they open them but the executive golf division staff and run them so the developer has to pay for this service. What they don't have to pay is any bond, so the extra money becomes part of their business portfolio from which they have to pay income and property taxes, and anything left over becomes a profit for them. Yes they do provide some service back to the District/Rec/Golf department and get compensated for it just like any other subcontractor.

Theirs is a very efficient and polished operation with the bulk of their revenue coming from home sales and commercial properties rentals and operations.