Developer IRS issues.

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #31  
Old 04-08-2013, 08:59 PM
graciegirl's Avatar
graciegirl graciegirl is offline
Sage
Join Date: Mar 2008
Posts: 38,797
Thanks: 3,616
Thanked 3,562 Times in 1,239 Posts
Send a message via AIM to graciegirl
Default

Quote:
Originally Posted by Advogado View Post
No to your first question. I had no connection whatsoever with that lawsuit. Also, I hope that the Center Districts (and therefore the Developer) prevail in the IRS investigation, or if they don't prevail, I hope that the matter is resolved in a way that does not negatively impact the Villagers. By the way, to turn your question to me around: Was your maiden name Morse or was it Schwartz? (Just kidding.)

Furthermore, let me say, once again, that I think that The Villages is a great place to live and that the Developer has done an amazing job in planning, building, and maintaining The Villages. Of course, how the Developer has financed all this is what the IRS is questioning.

You are correct as to the vast majority of my posts being on the subject of the IRS investigation. This is because: I only like to post on subjects that I know something about, rather than posting on every subject that comes up in the forum. The IRS investigation is a subject that I do I think I understand pretty well. It is also one that is important to all Villagers, and one that I believe has been poorly reported (to put it mildly) by the Daily Sun and the VHA Bulletin.
Thank you. Several dozen people know me on this forum, have been to my home, played golf with me, chatted with me at Crispers. They know my real name and have met my real husband and my real children and know my politics and my religion. I am NOT anonymous..

I invite you to stop by Advogado. Anytime.
__________________
It is better to laugh than to cry.
  #32  
Old 04-08-2013, 09:18 PM
Advogado Advogado is offline
Veteran member
Join Date: Jul 2007
Posts: 877
Thanks: 49
Thanked 439 Times in 154 Posts
Default

Quote:
Originally Posted by gemorc View Post
The POA Bulleton listed the 3 points of contention between the IRS and the TV CCDs. The IRS states the value of the property transfered from the Developer to the CCD meets thi requirements of the IRS, thus answering the question of Point 2. Both Points 1&3, still need to be settled. Please read the POA Bulletin to become informed about the lingering problems between the IRS and the TV CCDs.
Contrary to the Daily Sun headline and the headline in the VHA Bulletin: "District Prevails in IRS finding, the truth seems to be that the "prevailing" is, at this point, merely an argument made by the District's attorney. Hopefully, his argument will carry the day, but it apparently hasn't yet. Here is how the Bondbuyer reported the story (contrast this with the Daily Sun and VHA Bulletin):
"Florida CDD Urges IRS End Audit After Review Shows It Didn't Overpay for Property
The Internal Revenue Service's own appraisal valuations show the Village Center Community Development District in Florida did not overpay when purchasing four pieces of property with bond proceeds, according to the CDD's lawyer." [emphasis added]

Bond Buyer Online - Florida CDD Urges IRS End Audit After Review Shows It Didn t Overpay for Property
  #33  
Old 04-09-2013, 05:47 AM
mickey100 mickey100 is offline
Platinum member
Join Date: May 2012
Posts: 1,829
Thanks: 0
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by Advogado View Post
...
You are correct as to the vast majority of my posts being on the subject of the IRS investigation. This is because: I only like to post on subjects that I know something about, rather than posting on every subject that comes up in the forum. The IRS investigation is a subject that I do I think I understand pretty well. It is also one that is important to all Villagers, and one that I believe has been poorly reported (to put it mildly) by the Daily Sun and the VHA Bulletin.
  #34  
Old 04-09-2013, 05:58 AM
mickey100 mickey100 is offline
Platinum member
Join Date: May 2012
Posts: 1,829
Thanks: 0
Thanked 1 Time in 1 Post
Default

Not adhering to internet safety is nothing to brag about. When one posts on a public blog , information adds up over time. You mention your name, that you live near a certain rec center. Two months later you mention a nearby street, 3 months later you mention your neighborhood, thinking its too large and couldn't possibly be unsafe to reveal this information. Any crazy stalker who reads your blogs can put these details together and figure out where you live and track you down.
  #35  
Old 04-09-2013, 06:50 AM
graciegirl's Avatar
graciegirl graciegirl is offline
Sage
Join Date: Mar 2008
Posts: 38,797
Thanks: 3,616
Thanked 3,562 Times in 1,239 Posts
Send a message via AIM to graciegirl
Default

Oh well.
__________________
It is better to laugh than to cry.
  #36  
Old 04-09-2013, 07:44 AM
paulandjean paulandjean is offline
Gold member
Join Date: Jan 2009
Posts: 1,327
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by graciegirl View Post
You are telling me not to be snarky?

Oh and Chinook is not a new poster, I checked. I read every one of her posts. She has been posting since 2010 and she is a nice person and doing what she should be doing..asking questions and gaining information. The post I posted was for the benefit for anyone new or anyone who thinks that they can slither in here and start trouble. Sorry Chinook, if I hurt your feelers. I really am. You were asking honestly and kindly.

The article you linked. Mickey109 is fair and accurate and points out the politics of the developer and also points out which party his business contributes to.
Seems like they just want some info.Thats what TOTV is about.Enough about old and new posters.
  #37  
Old 04-09-2013, 07:58 AM
Hadleyite Hadleyite is offline
Junior Member
Join Date: May 2009
Posts: 13
Thanks: 0
Thanked 0 Times in 0 Posts
Default

The VCCDD receives all amenity funds north of 466. It was essentially a developer controlled enitiy whcih purchased properties from the developer using tax free bonds. The question from the IRS is pretty clear, is the VCCDD a governmental authority with the right to issue those bonds. amenity funds recevied are used to make payments on the issued bonds. The methodology used by the VCCDD to determine the value of the bonds included the purchase of a stream of funds from the amenities. the newspaper article indicates this approach was appropriate, however nowhere did I see that the IRS has concurred.
I love the lifestyle here, but that does not mean that the IRS is incorrect in questioning the approach.
  #38  
Old 04-09-2013, 08:42 AM
mickey100 mickey100 is offline
Platinum member
Join Date: May 2012
Posts: 1,829
Thanks: 0
Thanked 1 Time in 1 Post
Default

Exactly, Hadleyite. Everyone I know loves living here. That's not the problem. The big question was whether or not the IRS was correct in saying that the VCCDD does not act like a real governmental authority and does not have the right to issue the bonds.
  #39  
Old 04-09-2013, 08:44 AM
Cantwaittoarrive Cantwaittoarrive is offline
Veteran member
Join Date: Jun 2012
Posts: 895
Thanks: 0
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by mickey100 View Post
Not adhering to internet safety is nothing to brag about. When one posts on a public blog , information adds up over time. You mention your name, that you live near a certain rec center. Two months later you mention a nearby street, 3 months later you mention your neighborhood, thinking its too large and couldn't possibly be unsafe to reveal this information. Any crazy stalker who reads your blogs can put these details together and figure out where you live and track you down.
Correct people from all over the world can read/ glean information from TOTV and use it for what ever purpose they wish if they are so inclined. I had an aunt that had her bank account cleaned out after her husband died and the obit was posted online. Using just a little bit of basic information someone got my uncles birth certificate and set up a fake id went to the bank and cleaned out the account. She got all of her money back but it took weeks.
  #40  
Old 04-09-2013, 09:37 AM
Mack184 Mack184 is offline
Veteran member
Join Date: Sep 2012
Posts: 621
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by paulandjean View Post
Seems like they just want some info.Thats what TOTV is about.Enough about old and new posters.
Nope. Gotta fully agree with Gracie. When this manure starts up it's only for one reason..to stir the pot. Factual legal information on the developer and the CDD/IRS theme are NOT going to be found here. The only reason this starts up is to pour gasoline on the fire.
__________________
"I did not get into rock-n-roll just to pick up chicks. However..I was able to adapt". Ted Nugent
  #41  
Old 04-09-2013, 10:19 AM
janmcn janmcn is offline
Sage
Join Date: Oct 2011
Posts: 5,298
Thanks: 0
Thanked 1 Time in 1 Post
Question

Quote:
Originally Posted by Chinook View Post
Can anyone update me on the latest on the IRS investigation of the developer and the use of the development bonds? I am a soon to be villager and want to keep current on this situation.
Thanks, Sue
Quote:
Originally Posted by Mack184 View Post
Nope. Gotta fully agree with Gracie. When this manure starts up it's only for one reason..to stir the pot. Factual legal information on the developer and the CDD/IRS theme are NOT going to be found here. The only reason this starts up is to pour gasoline on the fire.
Does the OP really sound like someone trying to pour gasoline on the fire?
  #42  
Old 04-09-2013, 11:18 AM
mickey100 mickey100 is offline
Platinum member
Join Date: May 2012
Posts: 1,829
Thanks: 0
Thanked 1 Time in 1 Post
Default

Quote:
Originally Posted by Cantwaittoarrive View Post
Correct people from all over the world can read/ glean information from TOTV and use it for what ever purpose they wish if they are so inclined. I had an aunt that had her bank account cleaned out after her husband died and the obit was posted online. Using just a little bit of basic information someone got my uncles birth certificate and set up a fake id went to the bank and cleaned out the account. She got all of her money back but it took weeks.
It is really easy to get scammed from the Internet. I would hate to see that happen to anyone from TOTV. Just a word to the wise.
  #43  
Old 04-09-2013, 12:01 PM
skyc6 skyc6 is offline
Veteran member
Join Date: Oct 2008
Posts: 517
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by mickey100 View Post
Not adhering to internet safety is nothing to brag about. When one posts on a public blog , information adds up over time. You mention your name, that you live near a certain rec center. Two months later you mention a nearby street, 3 months later you mention your neighborhood, thinking its too large and couldn't possibly be unsafe to reveal this information. Any crazy stalker who reads your blogs can put these details together and figure out where you live and track you down.
Really?? This is quite a bit of fearmongering.
I don't really think there is a plethora of "crazy stalkers reading this blog or any others in The Villages trying to find out where people live to track them down!"
Frankly, in many cases, all they would have to do is open the phone book!

If you cannot play nice on TOTV, then please don't play at all.

Last edited by Moderator; 04-09-2013 at 04:44 PM. Reason: edited out comments directed at member
  #44  
Old 04-09-2013, 04:22 PM
mickey100 mickey100 is offline
Platinum member
Join Date: May 2012
Posts: 1,829
Thanks: 0
Thanked 1 Time in 1 Post
Default

Frankly, I don't consider your post as "playing nice". In fact I find it rude and harrassing.

But as far as internet security, consider the following. Many of you folks have indicated where you live and even posted pictures of your home interior. Then you respond to someone's post regarding the cruise to Alaska on such and such a date. "Yes, we're going", etc. Why not just take out an ad in the Daily Sun and say "Hey, we're going to be gone on these dates, here is where we live, come on over and rob us". It has been well publicized that thieves and criminals peruse internet chat rooms looking for easy targets. I'm just suggesting that perhaps some might want to be a little more careful about what information they put out there.
  #45  
Old 04-09-2013, 04:25 PM
cgalloway6 cgalloway6 is offline
Senior Member
Join Date: Jun 2011
Location: Rockton, IL Mockingbird Lane, The Villages
Posts: 204
Thanks: 0
Thanked 6 Times in 1 Post
Default

What was the topic again?
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 11:57 AM.