I think this IRS issue is just a tempest in a teapot. Sounds awful when you look at the magnitude of the dollar amount that the IRS questions, but, as Russ indicates, when you look at it amortized over the population of TV=, it really doesn't amount to that much.
To get a VERY rough handle on this, consider its impact on the amenity fee (if, indeed it can legally betacked on to the amenity fee or some other new fee.) Currently the amenity fee is used to pay for all the operations of all of the amenities. Plus it is used to pay the debt on the bonds used to pay for the amenities. Lets say that the debt paymants amount to half of the total amenity fee (just a WAG on my part, I'm sure you can look at the CDD web site and get precise figures). That amounts to roughly $65 per month.
Now, let's say that instead of issuing tax free bonds that the CDD had to issue taxable bonds. That would make the interest payments for the taxable bonds higher. I'm not an expert on bond rates, but let's say that interest rates for taxable bonds are 35% more than that of tax-free bonds. So, if the amount of the CDD budget for debt payment increased by 35%, the net impact on the amenity fee would be approximately $23 per month. This is less than one night of dining out. Would anyone change their plans to live in TV based on that potential financial impact?
These are just rough figures, but I now have to go out and use my amenity (tee time in 35 minutes) so I don't have time to research these numbers further.
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