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Originally Posted by Goldwingnut
The developer does not have unlimited rights to add additional residential units in the existing CDD, they do however usually retain a small number. A few years ago they had approximately 300 amenity contracts associated with the RAD (north of 466) and has exercised a few of these options over the last few years.
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Wasn't my question, Don. I understand the rights the Developer maintains with the existing CDD's and some may have room for expansion. My question revolves around adding additional property and CDD's to "The Villages".
Quote:
Originally Posted by Goldwingnut
With respect to the number of amenities provided in the new areas, yes by all means it is their sole right and judgment to determine how many new amenities they build in these areas, no the residents don't get a say in it. It's their money, their land, and their business model, and they can do whatever they legally want to, so yes, they get to be the sole judge.
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I'm not questioning the realities of the market nor the Developer's track record. My basic question is, does the Developer have an unlimited right to keep adding CDD's all the way to Tampa or Orlando, all of which are entitled to use the existing amenities?
It's only a conceptual question, as I don't play golf on the Executive Golf courses, nor have I ever stepped foot in a Recreational Center, other than to pick up a Guest Pass.
I've developed Condominium projects in other states. In many cases, when selling units, we retain the right to add additional land and phases to the project, all of which will become "part of the whole" when complete and entitled to use any amenity constructed with the original phase.
At least in the states I've developed Condominiums, the possibility of adding other (future) land (phases) to an existing Condominium, has to be specifically addressed in the Declaration and it typically isn't unlimited.
Is that how The Villages is structured? Is there no limit to the potential expansion of The Villages and all homes added, become part of the whole and entitled to use of any and all amenities?
I'm not asking if the Developer would, might, shouldn't or wouldn't build all the way to Tampa and not build any amenities. I agree that market conditions are self-limiting and a determining factor.
My question is, does the Developer have the unlimited right to to grant access to the existing amenities, to as many homes as he wants.
Quote:
Originally Posted by Goldwingnut
Bottom line is, until you pony up and put your money at risk like they have, you don’t get a say in what the future holds and what they build, and they get to make all the decisions.
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Therein lies the crux of the dichotomy.
The Developer no longer owns the majority of the amenities (assuming the recent sale has been consummated), yet they have the exclusive right to determine the intensity of use the Amenities (they no longer own) are subjected to? They get to decide the "pools per person ratio" for their new CDD's and at the same time, change the current "pools per person ratio" in the existing CDD's? I have to be missing something here.