I don't wish to appear judgmental but quite frankly I am surprised that people are surprised of developmens such as this. Golf cart communities have been around for a long time. All the Developer (Entity) did was razzle dazzle people with the Lifestyle concept most of which is available in any city of an appreciable size. But some folks just seem to go overboard and these are the folks that cry out for a return of the bison. Fact is the two lawsuits in connection with the bison were a convience for the Developer (Entity) to exit something which was planned for right from the start. the Developer (entity) possesses good business acumen and is quite aggressive.
I can't say I am enamored as to their modus operandi but it is all legal.
The concern and the thing I dislike most about The Villages is that the Developer (entity) owns or controls most of Sumter County as a previous poster detailed. It is this ownership that is pivotal issue in the IRS audit of the Bond Issue.
so it is not a surprise that the Developer (entity) is spinning off its obligations as the built out is completed because it reduces expenses and increases focus on squeezing more profits on what the Developer (entity) owns here.
Another aspect is that residents either don't know or get lost in the fact that the Developer (entity) leveraged residents money to build The Villages. so when I read a post on TOTV thanking the Developer (entity) for building this wonderful place it leaves me scratching head because it is our money that is building this place.
Another concern is what happens when the build out is done? We know the Developer will have continuing income as long as TV is in existence. However we don't know who will control everyday operations nor how effective and cost efficient they will be.
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