Quote:
Originally Posted by iaudit
The numbered CDD's, over about a ten year period, transition from developer picked supervisors to homeowner picked supervisors. However, the central CDD's (the one's that issued the recreation bonds) are entirely pick by the developer and will not change as long as he owns the business areas that comprise these central CDD's.
|
I read somewhere the central CDDs are picked by the owners but there are only 17 owners in that district AND they get to make the decisions about the recreation bonds (the ones the IRS preliminary ruling was about) (paid for by the amenity fees). Can anyone confirm that?
And I still think the members of the numbered CDDs probably know alot about this issue and could enlighten all of us.