It has to be great to set your own rate

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  #16  
Old 02-16-2021, 07:38 AM
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Conclusion. The sad truth is that we won the battle However, the Developer may have won the war.

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Old 02-16-2021, 08:11 AM
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The developer puppets are posting on TOTV fake news that construction will halt if full impact fee is assessed. New commissioners will roll back the tax increase according to POA.
That might be a good thing! Over development is just as bad or worse than under development. With the number of people in TV, businesses will still come. Maybe we don’t need another thirty thousand homes. This only benefits the developers.
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Old 02-16-2021, 09:27 AM
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You sound just like one of the developer's minions.
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Old 02-16-2021, 10:50 AM
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This is so upsetting. Already sent my thoughts to esep we want to keep our taxes were they should be. No creep. I know your happy, but leave your complacency at the door.
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Old 02-16-2021, 10:52 AM
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In the small rural upstate NY town in which I lived, I was involved with the Planning board and eventually became the head of the Town Board. I knew the budget inside out. With that experience, I am not surprised that a large tax increase came after years of no tax increases. I am aware that there has been incredible increase in the tax base. However, residential development has a large infrastructure upkeep in the long haul. Roads don't last forever. With more residents, there is an increase need in the sheriff department, the court system, health department and many other government services. I am sure that the new board members are on a steep learning curve about the budget, how the county government runs, etc. I applaud that they are taking 6 months to learn enough to make a sound decision regarding the impact fees as well as our tax rate. Hopefully, as they go through the process, they will help all of us learn some of the intricacies that impact their final decision.
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Old 02-16-2021, 11:57 AM
Vernon Hud Vernon Hud is offline
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Does anyone actually think the developer would actually volunteer to a tax increase if it didn't benefit the family. Why do you think they set up this Bond structure, because it helps them make it look like the homes are cheaper than what they really are. 99.9999 percent of developers buy property, they put in all the infrastructure, decide how many homes per acre, divide up the cost of the infrastructure by the amount of homes in the development, and add this cost to each home before they are put on the market. This way everyone pays the same for infrastructure, no messing around with bonds, which I believe the developer makes all the interest off these bonds, which is really high compared to other interest rates. Developer here in The Villages always wins.
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Old 02-16-2021, 02:15 PM
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Default Looking at strike 3

Everything is negotiation and compromise. Nothing new in that statement
however i find it very curious that when serious subject matter like this is discussed all the heavy hitters disappear.
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Old 02-16-2021, 02:18 PM
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i find it very curious that when serious subject matter like this is discussed all the heavy hitters disappear.
It's an old topic, a number of threads, beat to death by OP's with agenda's........maybe that is why some are sitting in the dugout.
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Old 02-16-2021, 02:24 PM
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Does anyone actually think the developer would actually volunteer to a tax increase if it didn't benefit the family. Why do you think they set up this Bond structure, because it helps them make it look like the homes are cheaper than what they really are. 99.9999 percent of developers buy property, they put in all the infrastructure, decide how many homes per acre, divide up the cost of the infrastructure by the amount of homes in the development, and add this cost to each home before they are put on the market. This way everyone pays the same for infrastructure, no messing around with bonds, which I believe the developer makes all the interest off these bonds, which is really high compared to other interest rates. Developer here in The Villages always wins.
Bond holders get the interest. Many bonds have also been reissued at lower rates .
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Old 02-16-2021, 03:41 PM
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Originally Posted by dtennent View Post
In the small rural upstate NY town in which I lived, I was involved with the Planning board and eventually became the head of the Town Board. I knew the budget inside out. With that experience, I am not surprised that a large tax increase came after years of no tax increases. I am aware that there has been incredible increase in the tax base. However, residential development has a large infrastructure upkeep in the long haul. Roads don't last forever. With more residents, there is an increase need in the sheriff department, the court system, health department and many other government services. I am sure that the new board members are on a steep learning curve about the budget, how the county government runs, etc. I applaud that they are taking 6 months to learn enough to make a sound decision regarding the impact fees as well as our tax rate. Hopefully, as they go through the process, they will help all of us learn some of the intricacies that impact their final decision.
The Florida Impact Fee law states the increased services are to be paid through impact fees not property taxes. The law was passed because seniors were being taxed out of their homes by development.
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Old 02-16-2021, 04:02 PM
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Do you know the developer is a billionaire and many seniors here depend on SS. Talk about reverse Robin Hood steal from the poor to give to the rich. Nice.
Thou shalt not envy.
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  #27  
Old 02-16-2021, 04:05 PM
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Originally Posted by Vernon Hud View Post
Does anyone actually think the developer would actually volunteer to a tax increase if it didn't benefit the family. Why do you think they set up this Bond structure, because it helps them make it look like the homes are cheaper than what they really are. 99.9999 percent of developers buy property, they put in all the infrastructure, decide how many homes per acre, divide up the cost of the infrastructure by the amount of homes in the development, and add this cost to each home before they are put on the market. This way everyone pays the same for infrastructure, no messing around with bonds, which I believe the developer makes all the interest off these bonds, which is really high compared to other interest rates. Developer here in The Villages always wins.
Sacrifice a pawn or a rook to save the queen.

As far as the bonds are concerned, yes, they work in the developer's favor, but they also work in the homeowner's favor as well.

It's all about cash flow for a business, building without the bonds ties up lots of cash and credit line that doesn't get recovered until most of the homes are sold. With the bond the infrastructure costs are recovered as they are delivered to the CDD, greatly improving the cash flow.

How does this benefit the residents? Simple, with free cash on hand the developer is able to invest in amenities and other facilities. When you buy here there is not "over there with be the tee box for the fourth hole" promises, the course is built, the pools are built, the rec centers are built. How many communities were built that were supposed to have pools, rec centers, golf courses, etc. that never appeared because the developer ran out of money; in Florida there are lots of these. (yes, sometimes there is an ebb and flow between the homes and amenities, it happens in any project of size).

The developer doesn't issue the bonds, the CDD government issues them, the bonds are sold on the open market to investors, the investors make the profits off of the interest rate of the bond. They are not mortgages and the interest rate of a bond can't be compared to that of a mortgage.

The bonds are not a secret, they are and must be fully disclosed during the buying process. If you don't read the documents and ask questions, who's fault is that.
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  #28  
Old 02-16-2021, 04:08 PM
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This is still ( at least for now) a free country and all those who are unhappy about this issue are free to remove their anxiety and distress by moving elsewhere. I do not understand why, if you are all so unhappy here, that you would want to stay. You have choices so find a place that fits your budget and your desire to never have any increase in taxes. Good luck with that.
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Old 02-16-2021, 04:14 PM
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That might be a good thing! Over development is just as bad or worse than under development. With the number of people in TV, businesses will still come. Maybe we don’t need another thirty thousand homes. This only benefits the developers.
I feel the same way, there is way too much development in just a very short period of time. There was a time when the developer built one village at a time, now its just an explosion of houses with not nearly enough stores or business for south of 44.
  #30  
Old 02-16-2021, 04:21 PM
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I feel the same way, there is way too much development in just a very short period of time. There was a time when the developer built one village at a time, now its just an explosion of houses with not nearly enough stores or business for south of 44.
And yet, they sell out. If there wasn't a market, they wouldn't be building. There is HUGE demand from the center of the Baby Boomer age group for places like TV. You shouldn't be surprised by the growth.
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