Quote:
Originally Posted by Mr.Kris
In the beginning that is true. The amenity fee will cover the cost of the initial rec facilities and maintenance, etc. But as more rec facilities are purchased more of the amenity fees will be used for debt maintenance.
If the bonds/purchase is based on amenity stream, at some point you run out amenities to pay for maintenance.
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The amenities south of 466 are still owned by the developer. The amenities fee for those districts goes to him. So, it is not being used for debt incurred from purchasing the facilities north of 466. Once the IRS situation is finished, the transfer/sale of those amenities can proceed and then a portion of the amenities fee will be used for debt service as well as maintenance. The amenities fee for new homes will be calculated so that the portion required for debt service will not approach a level that will threaten maintenance and improvements. The fee is not the same everywhere in TV due to those calculations coupled with the restriction in the amount it can be increased on current residents/owners.