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Originally Posted by beckylou152
An article in The Villages News article says that the developer is selling off the amenities in the southern part of TV. Does anyone know if this is true and what this means?I can’t get the link to work.
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The article indicates that the amenities (rec centers, executive golf courses) will be sold to the Sumter Landing CDD (which currently owns all of the amenities between 466 and 44 -- the Village Center CDD owns the amenities north of 466).
As the previous poster noted, this is standard procedure. It is important to note that the sale not only includes the amenities, but also the amenity contracts of the residents in those areas (yes, their amenity dollars have been going to the developer -- for maintenance of the amenity facilities as well as for anything else the developer wants to use them for). I would imagine that the Sumter Landing CDD will issue bonds to pay for the purchase, which will be paid for by the amenity fees it collects from residents.