Developer Turnover

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  #1  
Old 08-01-2007, 01:01 PM
bobfl bobfl is offline
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Default Developer Turnover

If it is true that the developer will be finished by 2011 (probably going to be longer in this market) is any planning underway to do this? I live in a South Florida community that turned over to the residents about 18 months ago and it has been a disaster. It seems to me that a community the size of the Villages would be a monumental task for the residents to run. I am very interested in moving to TV as soon as my house is sold but I am concerned about this. The structure, planning, personnel development, training and cost control will be extremely difficult and will require lots of time to put in place.
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  #2  
Old 08-01-2007, 01:25 PM
mjabs mjabs is offline
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Default Re: Developer Turnover

The Villages daily operations are in the hands of the Community Development Districts. That is a quasi-governmental agency that insures the amenities of the Villages will always be there. The CDD"s will be served by elected officials from the communities within geographical areas within the Villages. There is no reason that this method of turnover to the residents will be "disastrous". Although the CDD's are now controlled by the Developer, they will soon will be "guided" by Residents Advisory Council's for each CDD. This should make a smooth transition as the Developer backs away and more of the Residents take over the CDD positions.
I came from another Central Florida community that went through a transition with great success. It was through resident participation and Developer cooperation. These. and much advanced planning, are the keys to a smooth transition. I believe these elements are in place at the Villages.
  #3  
Old 08-01-2007, 01:47 PM
Indy-Guy Indy-Guy is offline
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Default Re: Developer Turnover

There are areas (districts) of The Villages that have been turned over by the developer and are now CDD's. Take a look at this site. http://www.districtgov.org/

CDD's are confusing. The largest CDD in Florida is named Reedy Creek or more commonly known as Disney World. So these are not fly by night deals or I don't believe Disney would get involved in it.

http://www.hgslaw.com/ArticleBrief.cfm?ids=4
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  #4  
Old 08-01-2007, 03:50 PM
bobfl bobfl is offline
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Default Re: Developer Turnover

I am glad to hear how this is setup. Sounds like it will work out fine.
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  #5  
Old 08-01-2007, 04:07 PM
jjdees jjdees is offline
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Default Re: Developer Turnover

Indy Guy,

I just tried your link to districtgov.org and it immediately links back to TOV. I'll try it later or maybe do a google on it.
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  #6  
Old 08-01-2007, 07:14 PM
KenMac KenMac is offline
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Default Re: Developer Turnover

copy the URL below, then paste it on the address line when you open Internet Explorer and hit enter

www.districtgov.org
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  #7  
Old 08-02-2007, 07:03 AM
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Default Re: Developer Turnover

I think that things would change only if the developer puts money in currently that is not reimbursed by the residents. It doesn't sound like that happens now so i wouldn't expect there to be much change. Sound like a reasonable assumption?
  #8  
Old 08-02-2007, 12:57 PM
mejahu mejahu is offline
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Default Re: Developer Turnover

No one seems to have much concern about the CDD concept but I'm wondering if my understanding is correct that if the CDD somehow defaults, the property owners will be responsible for any necessary repairs that should be covered by the money collected by the CDD. :dontknow: Any comments, or concerns about this?
  #9  
Old 08-03-2007, 01:45 PM
LG LG is offline
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Default Re: Developer Turnover

REMEMBER.. The Developer owns almost all the commercial property and gets a % of all sales.. so they will want it to continue to be a CASH COW

MOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
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  #10  
Old 08-03-2007, 02:07 PM
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Default Re: Developer Turnover

Don't be too sure that The Developer owns all the commercial property.
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  #11  
Old 08-03-2007, 02:22 PM
Travel Master Travel Master is offline
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Default Re: Developer Turnover

Quote:
Originally Posted by JohnZ
Don't be too sure that The Developer owns all the commercial property.
TELL ME MORE
  #12  
Old 08-03-2007, 04:11 PM
Patty Patty is offline
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Default Re: Developer Turnover

To further embellish what John was saying....
We are business owners in the Villages and purchased our commercial property parcel from the Villages and a partnership they have with a real estate company in St. Pete. We had to have our plans approved by the Villages as we went through the planning stages of the development and our construction company also had to meet with The Villages and were held to a list of strict standards to which they had to comply. Many of the items you see on the commercial properties are dictated by the Villages but paid for and kept up by the actual commercial property owner. For instance - the SECO designer light posts are dictated to be used by The Villages, as well as 1 live oak tree planted for every 5 parking spaces in certain size lots.
Now that we are built and open for business, the Villages does not receive payment from us. It is my understanding from speaking with other business owners who lease their locations from the Villages leasing agents, that they have certain requirements as well in their leases and these may be different for some of the lessees dependent on the year that they actually signed their leases.



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  #13  
Old 08-05-2007, 07:58 PM
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Default Re: Developer Turnover

I visited the villages in Feb. and was impressed with the entertainment at Spanish Springs town square. I'm sure this helps sell homes. My question is what happens to this entertainment when the developer leaves? Does anybody know how this is managed?
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