Quote:
Originally Posted by billethkid
(any label you wanna put on it).....let's around build out time when there will have to be a transition of responsibility from the developer to the residents.
There have been many development transitions that have gotten unpleasant when the real costs of operations were exposed.....minus the subsidizing of the developer to make sure everything stays in place during their "marketing tenure".
Most do a good job of providing sufficient funding to bridge the transition as well as a few years into operating by the residents. Hopefully that will be the case here in TV.
btk
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BTK, we will never know that number. The VCCDD and the SLCDD, the two CDD's that run the amenities in the Villages, will NEVER be run or controlled by the residents. They are composed of commercial properties owned by the developer who elects/appoints the board of supervisors for these districts. The good news is the amenity fee can only go up by the yearly rate of inflation, the bad news is there may not be enough money to maintain the currently level of service and maintenance of the amenities since there MIGHT be some subsidization by the developer. The developer has not yet "sold" most of the facilities south of 466 to the SLCDD, probably waiting for the final outcome of IRS bond issue.