Originally Posted by Advogado

It is complicated or you would understand that "the developer and entities" lost.

The commercial CDDs can no longer issue tax exempt bonds to raise cash to pay the Developer for the amenity facilities. They are extremely lucky that the IRS did not decide to tax the interest on the bonds already issued, or they would have faced enormous liability to the holders of the bonds who would have been hit with a tax bill for their interest. They never did thank the POA for its support in avoiding that problem for both them and the residents. As I said, it is complicated, but the subject here is the POA, not the details of the Developer's tax-exempt-bond scam.