Talk of The Villages Florida - View Single Post - Latest Development in the IRS Tax-Exempt-Bond Investigation
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Old 08-03-2011, 10:14 PM
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Default IRS report now online

FYI: The "engineer's report" alluded to (but not described) in the Daily Sun article that provoked this thread is now publicly available: http://districtgov.org/images/IRSupd...-IRSUpdate.pdf

The conclusion of the report is that the value of the amenity income stream that was used in the Developer's sale of assets to the Village Center Community Development District "is overestimated and not credible".