Quote:
Originally Posted by EdV
If you want official information regarding the Districts position on various subjects you should be checking the Districts Our Place publication here: VCDD Our Place Archives
You can even have updates sent via email if you wish.
That said, as far back as this June 2009 issue, Janet Tutt, spokesperson for the Center District (and therefore the developer who controls it) stated:
“Although I can not address all the rumors, the one that is most disturbing floats the possibility that an adverse ruling would somehow result in increased amenity fees or assessments. That is absolutely false. Neither amenity fees, nor resident assessments could be increased for such a purpose.”
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The quote by Ms. Tutt is generally true, because: (1) The Center Districts cannot tax outside their boundaries, no residents live therein, and, therefore no residents can be assessed taxes by those Districts, and (2) the amenity-fee increases cannot exceed CPI increases (however, maybe the amenity fees would not be increased to the maximum in the absence of bond-related costs). However, Ms. Tutt (perhaps unintentionally, but maybe not) is dodging the real question: If the Center Districts incur huge costs as a result of the IRS investigation, from whom will the money necessary to continue the amenity system come? Is the Developer going to voluntarily return the huge profits (illegitimately made at the expense of the US taxpayer, according to the IRS) made from the sale of the amenity facilities? The last time the Developer defaulted on his amenity obligations, it took a class-action lawsuit to get him to pay up.