[quote=bike42;710462]
Quote:
Originally Posted by janmcn
A lot of residents, myself included, are wondering why the home owners are paying $300,000 per month in legal fees for the developer.
Rumor Control please! The figure you're quoting is the TOTAL legal expense for the five years this has gone on. Less than the cost of a bad divorce. $3.00 per resident.
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As I recall, the last published figure for total attorney fees was $700,000. That was some time ago. The total must be about $1 million now. However, as long as we continue to get our amenities at the promised level, I guess we can't complain as Villagers. (Maybe we can as US taxpayers, since we have been subsidizing the Developer.)
There is one consideration in this regard that hasn't been mentioned in any of the posts on this matter: Every year, the amenity fee seems to be increased by the amount of the CPI. The CPI is supposed to be a cap on increases. If the Center District were not spending amenity-fee revenue defending the Developer's use of tax-exempt bonds, maybe our annual increases would be less. But who knows?
That consideration aside, in all fairness to the Developer, SO FAR it appears to be "no harm, no foul" and no basis for another class action by Villagers. We will see what the future holds.