[Advogado]

In a nutshell, the IRS is sticking with its initial determination that the VCCDD is not a political subdivision authorized to issue tax-exempt bonds. For more detailed information, you can read the summary on page 3 of the November Property Owners' Association Bulletin.

We still have not received any assurance from the Developer that a negative outcome will not affect the continuation of our amenities. (If you haven't been following the matter, the risk to Villagers, put simply, is that the imposition of a huge tax cost on the VCCDD will make it financially impossible for the VCCDD to continue to furnish our amenities.)