I just came across this:
Villages IRS bonds: Villages government plays waiting game in IRS dispute over bonds - OrlandoSentinel.com
It is worth reading, although not terribly explanatory about what happens next, but at least somebody is reporting on the matter. The most interesting aspect, I thought, were the pessimistic comments by the attorney for the Center Districts. Still, we get no assurances from the Developer that residents will not be impacted.