Another Take On CDD's
 

IRS ruling on the Villages tax-free bonds a long time coming - OrlandoSentinel.com

(kudos to ilovetv)

How would one really know?!

I'm really sorry, but I'm about to demand that the Aministrators shut down this thread, because it has become far too political, rife with unsubstantiated rumors or hear-say, or unsubstantiated "facts."

I have no personal axe to grind, here, and frankly believe that many posters do!

I have, since becoming a resident in January 2005, been strongly opposed to the always-negative approach of the POA. Yes, they may have, over the years, won some things for residents, but their on-going, relentless, negativity is, frankly, off-putting in the extreme!

My fear is that most of those who have posted an opinion in this thread have really very little knowledge of the true facts of the on-going tussle between the IRS and The Villages; indeed, their knowledge of the issue is, most likely, based upon sadly unsubstantiated "media reports."

I know that many of you will not only ignore my efforts at reasonableness, but will even work to counter them. That makes me exceedingly sad!

SWR
:beer3:

Why would you read posts that offend you so much? Let people rant if the choose to do so and there will always be rumors and false information being shared when there are human beings involved. Sorry you are so offended by this thread, but I find interesting things talked about that encourage me to delve deeper.

These forums provide me with priceless information and BOTH sides of the story. That is why I follow them and post my own thoughts and perspectives now and then. The IRS issue is a HUGE financial black hole at present. I want to hear (or read) it all and make my own decisions.

Well said.

I understand your point completely and also agree with you Steve, as I usually do.

I support your post.

I share your concern in that even well meaning posters will confuse, scare, etc. other posters for no reason.

This is not a simple issue, and I have my doubts about the precise knowledge of those posting and advising others.

You are right when you say that the subject is not simple, but some of us have spent enough time studying the publicly available details so that we have a pretty good understanding of it. We are willing to share, in Talk of the Villages, that understanding with those residents who don't have the background, time, or inclination to delve into all the details. We are also willing to exchange thoughts and ideas about what actions Villagers can take to protect their interests.

The idea of shutting down this thread is totally absurd. This thread is about the most important issue facing The Villages today, and one that has been under-reported and misreported by both The Daily Sun and VHA Bulletin. It certainly deserves to be discussed here.

To understand the nationwide reporting of this the latest development, which is the subject of this thread, Google: irs "the villages" florida tax exempt bonds community development district

Limit the Google search to the last week.

You will see that it has been reported int the news media throughout the country. When this subject, affecting all of us, has received such nationwide attention, how can anyone seriously propose that it be censored out of Talk of the Villages??? To censor it out, it seems to me, would defeat the whole purpose of Talk of The Villages and turn TOV into a meaningless bit of fluff.

CORRECT..discussion is great, and you are correct that it "May" be an important issue. It is MAY because this has a long life, and from my perspective when I read so much MISinformation, with talk of hiring lawyers, to statements of KNOWING the developer has off shore assets specifically to flee the issue, THAT is irresponsible discussion. And irresponsible on an important issue as you say.

Right now the issue is between the developer and the IRS with us residents as very interested spectators.

If you have solid information that we all need a lawyer or should sue the developer, as has been suggested, OR know for a fact he is fleeing with assets, act on it, but a discussion of rumors on this issue serves WHO ?

PS..And certainly the snide comments on political leanings are nothing but inflammatory posts and it appears the moderator is taking steps to quell them

None of the quotes that you cite is attributable to me, and I am not sure why you imply that they are-- but they are part of free speech and, if you don't like them, you are free to ignore them. Members of TOV, I presume, are intelligent enough to discern what posts they want to believe and which ones they want to discount.

Furthermore, you may wish to correct your statement that this "the issue is between the developer and the IRS". That is, unfortunately, not the case. If it were, it wouldn't be of great concern to the residents.

Instead, the issue, right now, is between the IRS and the Center Districts (controlled by the Developer). Those Center Districts own a good chunk of our amenity facilities and need to be able to financially continue to furnish our amenity services to us. Please read the 2009 POA Bulletin article on the subject for a better understanding of the matter.

You are "spot on" for all three statements! Unfortunately the world is full of armchair legal and tax experts who seem to know a little something about everything.

In reality the IRS has issued a ruling in its investigation. There is an informal and formal appeal process and eventually a legal contention process which is available to the taxpayer before a tax case must finally be settled. Given the dollars involved, now and in the future, the possible ramifications to other CDD's, and financial strength and smarts of our Developer and his tax lawyers, I assume that this case and its outcome has a long way to go before it is settled in some negotiated way.

It took the IRS many years and a few different Agents to finally come up with a ruling. With all that, I am sure there are more than a few points of contention which will be used in the appeal process and settlement process if it comes to that.

Given the size and scope of this investigation I assume we, the public, are aware of less than one percent of all the important facts and issues. To predict an outcome at this stage is about as valid or useful as running around yelling " the sky is falling, the sky is falling".:22yikes:

IRS Bond Findings
 

Is anyone having trouble selling their property because of this issue? Who will want to buy the new planned construction with this bond liability affecting our amenities?

Has anyone heard if this matter will be appealed? Has the time for appeals ended? Is interest accruing all while this issue is being debated?

If the issue is a done deal and the taxes are now owed, who is in charge of paying the taxes and what are the plans to pay the bills?

I think it's time for the attorneys to publish a letter addressing these concerns so villagers will know where they stand and what the plan is going forward.

Frankly, I could not advise anyone to buy into The Villages until this matter is resolved and we know what the outcome will be.

I have never predicted an outcome (and I am not sure that anyone, including the involved parties, can with any degree of certainty), and I have never said that the sky is falling. Nevertheless, I and a number of other people are, thanks to Florida's Freedom of Information Law, aware of considerably more than the "one percent of all the important facts" that you mention. If you are interested in learning more, or are feeling particularly masochistic, go to districtgov.org and click on IRS updates and start reading.

swrinfla -

if you have no axe to grind, please stay out of the 'conversation' and leave it to continue! i, for one, learned a lot thanx to advogado's postings; and i hope to learn more - from all opinions!

your demand to have the thread shut down - when you have no axe to grind - seems like an oxymoron of sorts. i see no 'reasonableness' in your effort to stifle us.

so please leave the thread and allow the rest of us to continue to discuss, teach, advise, learn and consider.

thanx