Goldwingnut |
01-02-2023 04:01 PM |
I'm surprised nobody has asked the question of who is paying for these repairs.
To be clear the answer is simple, the developer; they own it and pay all the operating costs, it is run by the Recreation Dept. and they are reimbursed by the developer for all the incurred costs.
Yes, ultimately the residents are paying for this since it is the Amenity Fees south of 44 that are paid to the developer that the developer will use to pay for any repairs and maintenance. Operation of the amenities south of 44 is a profit center for the developer and will continue to be until they sell the amenities to the CDD (Eastport CDD?) many years from now. Their revenue and profits are limited by what can contractually be collected - number of homes sold and amenity fee + any CPI adjustment. Considering the cost to build, maintain, operate, and taxes, it is unlikely that they have made a profit yet on amenities south of SR44.
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