[Bonanza]

Originally Posted by janmcn

The Villages has some huge financial issues on the horizon. The IRS investigation is into the hundreds of millions of dollars in penalties and interest. When the bill is finally tallied, it remains to be seen who will end up paying.

The transfer of the amenities south of CR466 from the developer to the districts is another big ticket item. If history repeats itself (as in what happened north of CR466), the developer will be asking for much more than what it cost to build said amenities.

Originally Posted by justjim

There are a number of retirement communities in Central Florida but none compare to The
Villages. The IRS issue is with the Developer---not the residents.

There is no question who will be paying.
We, the residents, will be the ones paying, as we have been up until this point.

Yes, it is we who are footing the bill, even though the IRS bond issue is with Morse, not us.
Thus far, the attorney fees are somewhere around one million.
Morse has not paid one cent.
The money has come out of our amenity fee.

Like it or not, we have no say in this matter.