Lord, I hope not!! It is too damn hot here!! That's why we are retiring from Austin, TX in December to The Villages -- for the cooler weather!! It was 97 yesterday and it is only early June. Summers here are 105+ for July through September!! The further south in Texas you go, it is even hotter!!

This is located near the hospital, another commercial development.

Lazy B owns many areas - some vacant commercial, some agricultural (aka tax write off), some shopping center.

IRS issue
 

I think the penalty that the IRS would impose on the issuer of the bonds would more than compensate the IRS for the revenues it lost due to the tax-exempt status of the bonds. I agree, the bonds would have to be purchased back by the issuer. The question is at what value? Based on current interest rates, the value should be much higher than par. That would be very very expensive to the issuer of the bond. Yes, where would the money come from? I'm sure the developer would just eat it. He gets such high praises from the residents.... Which he really deserves even with this issue. He had accountants and attorneys set this up. This is America, need to be a true capitalist.

My guess is as good as anyone elses. It's only a guess.

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How can the Morse family Not read TOTV.. That (imo) is their inspiration!!!!!

I believe I read somewhere that the Disney company came up with the concept and requested and lobbied through the legislation creating Florida's CDD statutes so they could finance and build Disney World. Other types of developers including the Morse family picked up on the concept and have utilized and benefitted from it.

As far as I am concerned Gary Morse is a very creative man capable of planning and developing his vision as well as a marketing genius. He sells by providing what people want at affordable cost. Nobody holds a gun to anyone's head to buy in The Villages, in fact quite the opposite - and what a pleasant experience that is! No governmental agency could have accomplished as much at anything near the same cost. Various business ventures and experiences over several generations combined to creat a knowledge and know-how base and along with creative ability and effort, thoughtful and careful planning, the willingness to take the huge risk and a lot of hard work of many kinds The Villages has been developed and is being smoothly and well operated. Although Del Webb probably started it all with Sun City in Arizona The Villages is several generations removed. It is like going from a 1918 biplane to a modern jet - and congrats Gary on owning four of them! You earned them the old fashioned way. Of course Gary has made money. That is one incentive yet I imagine he also quietly takes pride in a job well done as have Disney, Jobs and others.

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couldn't't locate the article within the link ... it's under hat section please?

T
 

Remember that the Developer is The Villages of Lake Sumter, Inc., a corporation, not the Morse family. Do you have any reason to believe that that corporation has adequate assets to cover the potentially huge liability to the Center Districts (which own our amenities) resulting from the IRS's sustaining its position?

Amen to this post!!! I agree....especially with the last sentence! TV has brought MUCH to this area...along with giving us and YOU a lovely place to spend our retirement years. :a040:

Yes, I do think The Morse Family reads TOTV. Do you think that Steve Jobs never checked out Bill Gates's operating systems...or the other way around.

Gary has been pushing all the right buttons and although some people think he did it just for the money, but I can't believe it. Gary has to be in awe of the dream he created. Gary Morse is watching. Hey Gary? Back me up on this. Send a confirming email.

Sorry, I can't imagine Gary or his family reading this forum. Do you think he would really care if we were unhappy with a restaurant or a contractor? He already knows the IRS issues (far better than we do, I would hope); he knows how to build something that makes people come. We are a very small part of TV -- I think there are more non-resident posters(wannabes and gonnabes) than residents here. Many residents here think TOTV is nothing more than a complaint center and want nothing to do with TOTV. Why would Morse think much more of us?

I do know some employees of TV read this column (not just Villagers) but, so far as I know, none have even met the Morses, let alone report what is written here to them.

This is not a Jobs/Gates thing. Heck, TOTV isn't even a POA/HOA thing. TOTV is something we love but not something that is going to give a lot of information to a Gary Morse.

Sorry but Disney World was built long before Florida’s CDD statute went into effect. You’re confusing this with Disney’s planned community called Celebration. This community of ~1000 homes was built in the mid 90’s and was established as a Florida CDD.

Yes I do think the Morses, all of them read this forum. It has a lot of bilge but it also is a finger on the pulse of their customer and potential customer. They are hands on and have improved on their ideas and concepts over time. That doesn't mean that they are gonna jump to build an indoor pool or add more exercise facilities or mandate fat free at their restaurants...in MY OPINION, but they are good businss people and they know what they can do to give the consumer the ultimate bang for their buck.

Plus something inside of me feels that they are so beyond making money that somewhere floats in the goals they have is establishing a place for seniors to live never before seen on this planet. Everyone would love a legacy to the time spent on this earth. I think this place is it.

Beats the heck outa the tombstone I have planned that says


WHAT?????

Interesting article. I read the book Leisureville when I first learned about The Villages and someone mentioned the book. This article, just like the book, is written with an agenda of painting the Morse family as greedy and corrupt by taking advantage of legal loop holes. That comes from a liberal bias which was very clear in the words written by Andrew Blechman (Leisureville.

I am sure mistakes were made over the years by the Morse family, but I reject the idea of any criminal intent or fraud. Mr. Morse is far too smart a businessman to get caught up in any out right criminal conduct. His attorneys and accountants are probably the best in the country and know when and how to use the Federal Tax Codes to his advantage, just like any other successful businessman. It has only been over the past four years where legal loopholes have been defined as criminal intent. Most of what is written in that Bloomberg article is like others on the far-left (Wall Street Protestors) who attempt to make villains out of hard working successful Americans. I reject that philosophy and it is the major reason why I oppose Obama and his social justice approach to government, which is simply a metaphor for socialism! Capitalism has been the core to America's greatness and I have always questioned the motives of anyone wanting to destroy it.

There should always be checks and balances in every system because absolute power always corrupts. Here in the Villages, the POA acts as a check on the power of the Morse family's influence and they do a very good job. The POA was not even mentioned in the article. I believe they had a role in getting the settlement between the Morse Family and District 1 with regards to over payments for district assets.

I have always admired successful people in this country, Harold Schwartz and Gary Morse certainly proved they have what it takes to reach the top. It is a shame how politics on the left today have divided people attempting to create class warfare. That is not the American way. The other day a very clear message was sent by Americans in Wisconsin. I believe that same message will resonate across the nation in November as Americans reject the liberals and their attempt to expand government. Thanks for sharing the article.

Amen to that Bro........"God Bless America"