[JourneyOfLife]

Two general questions about TV's funding mechanisms:

First:

Are the TV funding mechanisms (and reserves) subjected to regular actuarial audits to determine if there is adequate funds to meet upkeep needs of the existing TV common infrastructure and in the next 10 or 20 years?

Is is subjected to daylight and regular (i.e., yearly) scrutiny by "independent third party auditors"?

Next:

I looked at the "Survey Question" Thread. I noticed a number of comments from people that were asking for additional large infrastructure to be built or modified. I even saw one post say something like: Put in hot tubs. I can't afford one myself. It made me think, "how will you afford the cost increase to support of the common infrastructure expansion"... it is not free!

How will that wish list be funded? That list would probably increase both fee cost and infrastructure cost (bond).

The mechanism can be a little tricky. Will certain homeowners end up paying more. It all depends on how it works.

Extend that question to current and future funding in general.


One thing that has bothered me since I read about it was that that $40M lawsuit settlement. That suit seemed to be over inadequacy of current funding to meet certain upkeep costs.

Then there is future funding (relatively near term... say rolling 10 years).... when the build out ends, major maintenance and teardown/replacement costs begin to happen.

The TV funding design looks somewhat inconsistent amongst different TV sub communities.... then there is the common VCCD. This just adds to the complexity of it. There may be multiple answers.

I know that a bond is originally assessed when a new home is sold. What happens after that money is used up or not funded to meet actuarial cost needs (current and 10 years)... IOW try to avoid large special assessments.

How does bond funding work for the various CCDs? Including the common Lifestyle oriented infrastructure VCCD Bond? How often are existing homeowners assessed new bonds? For example: Do they have to pay for a new bond every 20 years (since home was built)?

How about special Bond assessments? How does that work? Will all homes be assessed the same percentage of existing home value?

IOW are bond costs normalized such that newer home owners (or some subgroup of owners) do not bear a disproportionate cost of the maintenance and the inevitable replacement cost of infrastructure in the smaller TV communities? Same question across communities for VCCD.