As a not-yet-retired CPA and soon-to-be Villager, I feel I need to weigh in on this.
First of all, bonds are a standard method that developers large and small use to finance part of their costs. For example, did you know that a water (or gas or other) utility will charge the developer up front for the cost of bringing that service into a new neighborhood? In the case of water, this is fairly expensive as it includes the cost of the water main plus pump station(s) to maintain pressure for everyday and emergency (think Fire!) use. It also includes hydrants and service lines into each residence. If a new buyer had to pay for this as part of purchase, a lot fewer homes
would be sold anywhere.
Secondly, as Steve states, the tax exempt status of bonds is never determined by a sole IRS agent. The Morse family (love 'em or hate 'em) has their legal team to put forth the argument as to why these bonds should be tax exempt.
Thirdly, the level of amenities in TV is far greater than in the average "retirement community." With any community that has an amenity fee assessed there is always a risk that it will increase - regardless of how the cost of the amenities are financed. Keep in mind that the purpose of the bond is financing.
Lastly, all reporters/analysts have an agenda. Lauren, part of your job is to sell newspapers for the Sentinel. That's OK. But, journalism is not only what you say, but how you say it. It is not so easy to convey passion for a topic without a degree of sensationalism.
As readers we need to examine all sources of information.
Thanks for listening to my soap box.
Kate