Quote:
Originally Posted by gemorc
The POA Bulleton listed the 3 points of contention between the IRS and the TV CCDs. The IRS states the value of the property transfered from the Developer to the CCD meets thi requirements of the IRS, thus answering the question of Point 2. Both Points 1&3, still need to be settled. Please read the POA Bulletin to become informed about the lingering problems between the IRS and the TV CCDs.
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Contrary to the Daily Sun headline and the headline in the VHA Bulletin: "District Prevails in IRS finding, the truth seems to be that the "prevailing" is, at this point, merely an argument made by the District's attorney. Hopefully, his argument will carry the day, but it apparently hasn't yet. Here is how the Bondbuyer reported the story (contrast this with the Daily Sun and VHA Bulletin):
"
Florida CDD Urges IRS End Audit After Review Shows It Didn't Overpay for Property
The Internal Revenue Service's own appraisal valuations show the Village Center Community Development District in Florida did not overpay when purchasing four pieces of property with bond proceeds,
according to the CDD's lawyer." [emphasis added]
Bond Buyer Online - Florida CDD Urges IRS End Audit After Review Shows It Didn t Overpay for Property