Terri B:
A post from EdVinMass:
I would think that you folks in TV would welcome this article because in my mind, it shows how the CDD form of master-planned community developments can work if managed properly as has clearly been done here in TV. And I might add that the Morse family has been at this project for well over two decades. It’s the ‘Johnny come lately’ developers that rushed into this for a fast killing during the boom years of 2002-2007 that are failing.
PTurner asked a pertinent question regarding how non-cdd developments have done through all of this. There’s probably not much info on this since they’re privately funded. But I think it would follow the same pattern of when the project was started. But what’s particularly bad about the privately funded developments is that they tended to sell homes before the promised amenities were built. Not good for those that believed what they wanted to hear.
As for the IRS ruling, let me say once again. Regardless of the outcome, there is absolutely no way that a homeowner in TV will be obligated to pay a dime of this. Your sole obligation is to pay the $135 per month amenity fee and that can never be raised more than the change in the CPI, (consumer price index), in any year. So no special assessments can be levied and those two special CDDs have no taxing power on the homeowners.
And to that I have not a ‘Shadow’ of a doubt.
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