North of 466 and the Pimlico/Belmont/Churchill exec courses are owned by the central CDDs. The other exec courses south of 466 are still owned by the developer. They will transfer to CDD ownership when the IRS situation is solved and the CDD can issue bonds to pay for them as well as the rec centers, etc. It has been stated there will be an AAC for south of 466 when that happens.
Part of your amenities fee covers the maintenance of the exec golf courses and that will continue when they are sold to the CDDs. There is a limit to the amount your amenities fee can increase, so I don't expect a wholesale increase when the transfer takes place.
As to the original question, in the beginning TV was advertising golf free for life which included the championship courses. Even though that changed later to exec courses only, there were/are some people who bought here under those rules and the developer has honored the original agreement for those people. That does not mean it is impossible for the CDDs to sell the exec courses sometime in the future, but that has not been their MO here.
The developer still has a great stake here even when all the homes are sold. Remember these are people who have done this for generations, and the kids and grandkids are still working here. And remember the developer still controls the central CDDs. Could he just decide they have made enough money and just let the place deteriorate? Sure, but why then buy more land like they did? I just don't see them as a hit and run enterprise. Rather I look at the quality of the community they have created and see a sense of pride in their work.
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