Here is an excerpt from March 2008 Tampa Bay Times. Most people on this thread do not know about this. Better off researching yourself.
The companies that run this sprawling central Florida retirement community have agreed to pay $40-million to cover improvements and repairs, as part of a lawsuit settlement.
A circuit judge in Lake County approved the settlement of a class-action lawsuit that claimed the monthly amenity fees paid by The Villages' 70,000 residents had been misused by The Villages of Lake-Sumter Inc., the Village Center Community Development District and developer H. Gary Morse.
The settlement approved last week requires the developer to pay about $40-million over the next 13 years to replenish maintenance accounts. It also requires the defendants to pay $50,000 each to five plaintiffs and $6.7-million to the plaintiffs' attorneys.
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