Reply to Lauen Ritchie
Lauen,
If the costs resulting from resolution of the IRS investigation prevent the Center Districts from delivering the amenities that the residents were promised by the Developer, the residents will presumably take the necessary legal action to hold the Developer accountable. When amenities previously declined, the residents initiated a class action and won a settlement, as I recall, of about $43 million--now being paid by the Developer in annual installments.
The posters in this thread who are taking an "It's-not-my-worry approach" to the present situation are the benefiting today from the efforts of their neighbors who did worry, got involved, and spearheaded that class action. The rest of us owe those neighbors a vote of thanks for our ability to continue to enjoy our amenities and the lifestyle we were promised when we bought our homes.
If the IRS prevails here, it may well be class-action time all over again because it would appear that the continuation of our amenities system will, at the very least, be threatened. (In that situation, the IRS documents will provide the basis for a particularly good case against the Developer.) If events do reach that point, the residents will be very fortunate to have the Property Owners' Association to help represent their interests-- because there is no other organized group of residents that will do so.
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