Quote:
Originally Posted by Goldwingnut
If you take the time to review the annual audits of the various CDDs that are performed by an independent auditor you'll see that very little is contracted with developer owned companies, the two biggest are TSG for IT support and The Villages Media Group for advertising.
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They own the bank. They own the squares. They own the properties upon which the businesses around the squares exist. They own the new developments, UNTIL such time as they hand them off to the CDDs, which doesn't happen until they're finished with that area's buildout. They own the real estate agency that has exclusive rights to represent all new construction. They own the mortgage company. They own the Sharon Morse center. They own properties outside The Villages (the Publix/Winn-Dixie strip mall next to Spanish Springs). They own the properties upon which many medical centers are located, and the buildings the people running those centers pay rent on.
At some point - maybe not in our lifetimes, but at some point - there will be an "end of the line" of the family, and that end of the line will say "nope, not interested." Given that they own SO MUCH of all this - what will happen to it all when they finally walk away? They can. There's nothing stopping them from simply rejecting any lease renewals on properties they rent out, and letting those leases expire, and shutting down all the buildings, disconnecting services, and walking away.
They could sell it all, one piece at a time, to whoever they feel like selling it to, liquidate the whole shebang. And there is nothing we can do about it because - they own it all. No more medical centers, no more live music on the squares, no more businesses IN the squares, no more performances at the Sharon Morse Center, and heck - they could probably even shut down the Charter schools.
What guarantees - in writing - do we residents of The Villages have, that this won't happen? What measures have the CDDs and other government structures taken to ensure the continued running of the community in perpetuity?