Quote:
Originally Posted by EdVinMass
Sorry but the turnover does not include the recreational facilities, clubhouses, pools and executive golf courses that are in those districts. They are, and will remain the property of the developer. They are maintained by your amenity fees but are and will be managed by a board of trustees that he and he alone appoints.
|
This is not exactly true. The developer has turned over/sold all of the amenities north of 466 and a small portion of those south of 466 to the CDD. The plan is that he will eventually turn those over as well. The CDD, headed by Janet Tutt, runs all of the amenities, including those still owned by the developer. Currently the CDD collects all of the amenity fees and then pays a prorated portion of these back to the developer for the share that he still owns. The developer in turn pays the CDD for the cost of running them.
Why haven't more of the amenities been turned over? My guess that the hold up is the resolution of the tax issue - they need a clear guidance on whether the bonds that the CDD will sell to acquire these amenities can be sold as municipal bonds or not.