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02-11-2011, 07:18 PM
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Join Date: Oct 2010
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Quote:
Originally Posted by Taj44
If you will recall, in 1998 it was necessary for Villages residents to sue the developer Morse because of misuse of funds that were supposed to go towards maintence of Villages facilities. The class-action lawsuit contended monthly amenity fees paid by every homeowner in the community had been misused by The Villages of Lake-Sumter Inc., the Village Center Community Development District and developer H. Gary Morse.
It was considered a long-shot case, but the residents won. Morse and the corporations behind The Villages agreed in a civil court settlement to pay $40 million over 13 years to cover improvements and repairs to recreation centers, swimming pools and other facilities. I would say this was a pretty good example of the developer using the CDD to his benefit. If the residents hadn't sued, he'd still be enjoying the use of the amenity fees.
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Good point. 
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