Talk of The Villages Florida - View Single Post - When the build out ends?
Thread: When the build out ends?
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Old 03-01-2012, 10:19 AM
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aljetmet aljetmet is offline
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Default IRS issue
Quote:
Originally Posted by janmcn View Post
Is this going to be different from the facilities north of 466 which were turned over to the VCDD at a highly inflated price to the residents?
Is this related to the IRS issues where the Developer sold the future value of amenity fees to the VCDD? which sold tax free bonds to the public and handed the proceeds to the Developer?

I must admit I was under the impression that tax free bonds were to be used for public works. How could tax free bonds be used for up keep of pools and golf courses?

Hopfully I'm just a confused and uninformed wanabee....