Bond Issue ???????????

[smsgtdaves]

My wife and I visited The Villages back over Thanksgiving and were really impressed. We are considering, in about 2 years, to retire there. Prior to our visit from Pennsylvania I found this bond issue thing on the internet, which did not sound like it was something to get involved with. This is not the bond you pay when you buy there but the one the IRS is putting up a big stink about. It seems to me if the residents are happy whats the problem? Is this still an issue or is it something that could come back to bit the owners? When we were there we took a tour with a sales person and asked her about it and her comment was she did not know anything about it, yea right, and that we had to contact corporate with any questions. So what is going on with the IRS??????????

[Bogie Shooter]

Without restating nearly 100 posts, have a look here and if that is not enough try searching on IRS, bonds lawsuit, etc.
There is enough information to make your head spin.
https://www.talkofthevillages.com/forums/showthread.php?t=22256&highlight=bond
Also:
http://www.districtgov.org/

[EdV]

There is also a timely article in the Feb 2010 POA Bulletin (http://www.poa4us.org/bulletins_files/Bulletin201002.pdf) on page 3 that explains the two bonds that you will be paying for and what the differences are.

[Midge538]

In the end, it is 'the elephant in The Village's plywood floored closet.' The developer left him there with us and hustled on!

[smsgtdaves]

So after reading everything I'm guessing this will be a long drawn out process that somebody is going to win, probably the lawyers, and somebody will loose, I hope not the residents. So before we make a move we have to do due dillagence and hope for the best. It is a shame that this effects my thoughts about The Villages and probably a lot of other people. I thought we found it, whatever that is.!

[BB14616]

So after reading everything I'm guessing this will be a long drawn out process that somebody is going to win, probably the lawyers, and somebody will loose, I hope not the residents. So before we make a move we have to do due dillagence and hope for the best. It is a shame that this effects my thoughts about The Villages and probably a lot of other people. I thought we found it, whatever that is.!

I think that is it in a nutshell. But to be fair, I don't think it is just The Villages, there are some other retirement communities set up the same way? Someone please correct me if I'm wrong.

The developers have a lot of money to fight the IRS, so I expect the process will be long and drawn out, and maybe some compromise will be reached. Money talks.

[Advogado]

The best way to understand the history and developments regarding the IRS investigation and its potential implications is to read the various reports that have appeared in the POA Bulletin (www.poa4us.org) and to attend the POA monthly meetings. The next meeting is 2/16 at 7:00 p.m. at Laurel Manor.

[gary42651]

I was walking thru the Town Square at Spanish Springs and walked into a store called Kings Gallery. The first thing I saw was a print called Grand `ol Gang by Andy Thomas, Its a print of past republican presidents playing cards. I liked it so much I bought it and it now hangs in my living room, as I was paying my bill I asked if they had another showing the democrat presidents, he said they did, but had to take it down because of all the damage being done to it. go figure...