Quote:
Originally Posted by 3puttharry
A couple of post refer to "bonds that WERE sold" as in past tense.
A few question come to mind.
1. As each subsequent group of villages/districts have been built and amenities sold have similar tax free bonds also been sold?
2. If not are the districts were these bonds were sold identified?
3. If the districts are identified, again pardon my ignorance, but what villages are in these districts? Do different districts fall under differnt VCCD type names? I thought I read about another name but not VCCD?
4.Not sure but it seems like each district may have different rules and laws especially seeing they are in three different counties. If the VCCD loses can d they have the authority to decide that all villages pay? Even the original ones that some hv no amenity fee?
5.Are or were these tax free bonds available for purchase to the public through brokerage companies?
6. How about the 7% bonds on new houses (I realize this is a different bond) Can anyone buy these too? Great deal, guaranteed 7% when the rest of the public US muni bonds are a questionable investment now (IMO).
7.I read here that part of the IRS problem is the appraisal of specific facilities and the possible inflated price paid by the VCCD. Are subsequent appraisals of new district facilites in the same ballpark? If so does that mean this issue that started years ago is going to expand to all new and future vilages/districts?
8. A previous poster said this IRS issue with the villages will affect hundreds of other plus 55 florida communities. I hope he is right but I would venture to say that no other plus 55 community in Florida and perhaps United States has and is continuing to grow like the villages. Which I guess means a lot more bonds here than anywere else.
Sorry for the long post and am seriously sorry for my laziness to those of you who suggest I search the many years of previous posts to look for my answers. Retired but still have type A behavior
Still looking forward to living in The Villages....I am closing on a new house in four weeks.
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As of two years ago, which roughly corresponds with the date of the IRS case, the only bonds that were sold for amenities, with only a few exceptions, involved the amenities north of 466. I have not heard of any subsequent sales of bonds or purchase of amenities by the CDD (that's not to say that this has not happened, however). My guess is that they are holding off on any future transfers until this issue is resolved.