[villages07]

Muncle....I have tried to do my due diligence in learning about the bond, CDD government, commercial CDDs, covenants, etc. The one area that is still fuzzy is the budget for and future of the amenities. We, the homeowners, do not own the amenities.

They are originally funded by the developer and then he sells them to the commercial CDDs. There are currently 2 commercial districts...North and South of 466 (yet we all have access to all amenities). The commercial CDDs, whose reps are appointed by the developer, agree with the developer on the price for amenities that are sold to them (golf courses, rec centers). The amenity fee we pay funds the maintenance and operation of the amenities as well as a portion going to payoff the initial cost as purchased from the developer.

The commercial CDDs set and manage the amenity budget. Everyone in the Villages pays different amounts, depending on where you live, but, we all have access to all amenities. I guess my biggest concern is what the amenity fees will be (to maintain current standards of quality) in 10-15 years. The existing amenities will continue to age and at some point in the next 5-10 years, there will be no more new homeowners coming in. At times, it feels a bit like a pyramid...today's new owners pay amenity fees that pay for upkeep for older facilities. What assurance do we have that the 2 commercial districts have an adequate replacement and reserve fund to do periodic remodeling and updates of older facilities as they age? Apparently, funding the remodeling of Paradise Rec Center and Chula Vista caught some people by surprise.

Right now, the amenity fees are quite reasonable for what we get. The real unknown is what will they be in 10 years and will the facilities and amenities be as nice as they are today?

It sure seems like Villages residents should have some input into this process through representation on commercial district governing boards.