Quote:
Originally Posted by PennBF
I am disappointed that some can"t see the wisdom of ensuring the park is
paid for from Amenity Fee's. First, it is very simple: Cap on spending vs no cap on spending. Setting the payment up under Project Wide eliminates any "cap on spending" and the residents are at the mercy of what projects some want built regardless of expense. YOU WILL PAY AT TAX TIME. The other way, (Amenity Fees) has a cap on spending at CPI or 3% and therefore there are controls as to how much can be spent and you the resident must pay for. Next: Project Wide contract called for spending only for maintenance and repair NOT NEW. New comes under your "CONTROLLED" Amenity Fee Rules. A general attitude that "it feels good" to follow some suggesting that Project Wide funds be used is aborting the rules and good financial controls. It must be remembered that by allowing Project Wide funds to be used you have no controls over your year end taxes and may/will start paying for a host of things you never agreed to. Ask yourself, why is it important to some Village management to get you to give up on control over their spending. It is unbelievable that some actually think it is a good idea??? You look to the POA to watch out for your interests and then when they do you "shun" them. I am sure a lot of work went into their looking into this practice and establishing the risk it brings to the residents. Please look more deeply at what the Management is asking for and then ask yourself why since the payment can come just as well from Ameity Fee's and not violate and set a precendent for Project Wide spending !! WHY??  |
WHY is the question I would like to see answered. I fear the answer is to set a precedent so that when or if the IRS Bond issue goes against The Villages then there is now a funding source to tap that will be used to cover the possible non-tax free bonds. I am definitely writting in protest because I agreed to the annual maintenance assessment being used to pay for the ongoing cost of maintaining the infrastructure not for new build. We really don't know what the future holds as far as the IRS outcome and if we don't open the door for
anything other than the annual maintence money being used for the infrastructure maintenance I'm hoping we will be safe.