Quote:
Originally Posted by Warren Kiefer
Yes a reasonable profit, but this is similiar to why we usury laws. These laws were established to keep anyone or any facility from charging outragous interest. If I am not mistaken the developer selling the VCCD facilities such as the Savannah Center is why the IRS issue is before us at this time. The IRS has declared that the bonds issued to make such purchases are not in fact tax exempt.
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That is not my understanding of the issue.
I think a lot of people come on this forum and say nine times this or that and throw glittering generalities and unverified information around just to put down the developer.
I don't know any of the developers or their families but I didn't fall off the turnip truck and all I can see is a well run organization for very little amenity fee.
I think a lot of the nastiness is just class envy.
But I could be wrong. Old Gary could be sly as a fox and mean as a snake. But he sure as heck knows how to build pretty stuff for old people.