[bkcunningham1]

The Lauren Ritchie column starts by mentioning the Leesburg, Florida, community of Arlington Heights. She starts her opinion column by writing about the "greedy developer" and how the community went "belly up."

In October 2008, the Daily Commercial ran an article about this very community's Chapter 11 Bankruptcy. This was a reorganizational type of bankruptcy where a corporation or partnership does not put the personal assets of its stockholders at risk. That was two years ago. Why would Ritchie mention that now when it is moving up on 2011?

She failed to mention how the residents volunteered and apparently held the develop together until finances got rolling again. It appears they are still in business.

Perhaps Ritchie didn't do her homework and was just hand fed some information that she didn't double check. I think the concept behind the information is important. But it is more important to get correct information to get the proper concept.

http://www.dailycommercial.com/1029arlington

I looked at the Arlington Ridge bi-monthly newsletter. It appears the place is going strong. Correct me if I'm wrong. I am just saying this based on their website and newsletter.

http://www.myarlingtonridge.com/arli...newsletter.pdf

http://www.myarlingtonridge.com/arli...tside_home.asp

[Opulence]

Originally Posted by Russ_Boston

Lou, IRS may be another issue but, even if the ruling is against TV, the $ magnitude of that when split among all the residents doesn't worry me much either.

Russ if it comes to that, & the IRS rules against TV, do you think it would effect those residents who have already paid their bond? Would they have to kick in too? I have wondered about this before.

Does anyone know if there are any stats showing how many bonds have beend paid, and how many are still owed throughout TV?

Betty

[Snowbirdtobe]

The real estate market is in shambles. We've looked at other parts of Florida and prices can be 50% of the outstanding mortgage balance.
We bought in the villages because of the lifestyle. TV prices have held up compared to everywhere else in Florida and we think that it will continue.

My understanding of the IRS position is that the bonds are not tax exempt because no one lives in the districts that issued them. These districts are not a bad investment and I'm sure that many investors would line up to buy taxable bonds for the town centers.
TV is an economic driver for the whole area. Tens of thousands of homes that need services. Take a look at the developers web site that is selling access to us.

http://thevillagescommercialproperty.com/location.asp

Reporters need to find something to write about and many people have been crushed by the real estate downturn so be wary and read everything you can about the IRS issues.

[Bogie Shooter]

Originally Posted by Opulence

Russ if it comes to that, & the IRS rules against TV, do you think it would effect those residents who have already paid their bond? Would they have to kick in too? I have wondered about this before.

Does anyone know if there are any stats showing how many bonds have beend paid, and how many are still owed throughout TV?

Betty

I would think everyone would be treated the same. Whatever "treated" means.
This issue is not something to lose sleep over.

[Pturner]

The homeowners are not the holders of the bonds being challenged. That would be the investors who purchased the bonds. The IRS issue has nothing to do with the bond on the homes.

Someone PLEASE correct me if I'm wrong.

[ijusluvit]

Originally Posted by Opulence

Russ if it comes to that, & the IRS rules against TV, do you think it would effect those residents who have already paid their bond? Would they have to kick in too? I have wondered about this before.

Does anyone know if there are any stats showing how many bonds have beend paid, and how many are still owed throughout TV?

Betty

There has been lots written on the IRS matter. Some of the good stuff is hard to find in a search of threads here. But for my money, the most accurate information is contained in issues of the POA Bulletin. (Thank God for the POA!)

just go here: www.ccfj.net/POABull. You can start by scrolling down to the April, 2009 edition.

[Opulence]

Originally Posted by ijusluvit

There has been lots written on the IRS matter. Some of the good stuff is hard to find in a search of threads here. But for my money, the most accurate information is contained in issues of the POA Bulletin. (Thank God for the POA!)

just go here: www.ccfj.net/POABull. You can start by scrolling down to the April, 2009 edition.

DARN!

Oops! This link appears to be broken.
Suggestions:
•Go to www.*ccfj.*net/*POABull.*html
•Go to www.*ccfj.*net
•Search www.ccfj.net for POABull
•Search on Google:
Google Toolbar Help - Why am I seeing this page?

©2010 Google - Google Home

[bkcunningham1]

This is an excellent source of information about the IRS situation. Starting with the most recent:

http://www.districtgov.org/images/IR...%20Request.pdf


http://www.districtgov.org/images/IR...S%20Update.pdf

http://www.districtgov.org/images/IR...S%20Update.pdf

[ijusluvit]

Opulence, sorry about the POA link. Try this:

www.ccfj.net/POABull.html

BK - I question the objectivity of the links you suggested. And ps.... I am still waiting for your reply to my post in "Fascism" about the federal government.

[bkcunningham1]

Why would you question the objectivity of one of the parties involved in the issue posting public information that anyone; including the other party (the IRS), can see and use against them if it is false. I'd rather get my information from the source. It is a letter sent to the IRS from the attorney.

[Pturner]

Originally Posted by jmitchell

I have been reading these posts over the last year and have avoided getting involved, but I am now concerned that this information has become harmful and frightening people who might truly love living in The Villages. I am not sure that comparing The Villages to these smaller, completely different CDDs is appropriate in the sense that it does not provide an accurate analysis and, in my opinion, appears to be purposefully misleading. If “The Shadow” truly wanted to live in The Villages I think s/he would/should take a more proactive approach to sorting through these issues. So – why do I think that I am so smart and have all the answers – well I don’t, but I do have a Master's Degree in Public Administration, was the Founder of a publicly traded software company, and have worked for the Federal Government overseeing large government contracts. I am not trying to say that I know everything -- I state this just as a point that I do have some experience and education in both the public and private sectors that is relative. Since I don’t have the answers, what I will do is be proactive and get them. We close on our house on Oct. 12 and will move to TV full-time Nov 24. Along with getting settled in and having more fun than I ever thought was possible, I will begin researching this whole situation, joining the HOA group(s), talking with the CDD, going to the CDD New Resident Seminar to learn about their operation, reviewing the IRS information, etc. Then, with some “real facts” about The Villages CCDs, I will post information on TOTV so that anyone who chooses to read these posts can make their own decisions based on facts. I am not trying to be obnoxious, but I think that the U.S. was built by people who had good ideas and from what I can tell the family who started and continue to run The Villages had a good idea. They deserve to make money. That is how a capitalist society works – and I am not a Republican. Many cities, states, even counties fail and these are run by “public entities – people we elect” -- look at California (I was born and spent 40 years in CA). It appears that The Villages has been doing many things right and maybe some things wrong. But let’s take the time to find out and help keep it on track because it is an AWSOME place for adults to live!

Excellent post, JMitchell. I look forward to your future posts on the subject.

BTW, Welcome to TV. I'm excited for you and wish you the very best. You know, you have something besides the initial/name in common with the famous late JMitchell. She too, wanted to get herself back to the garden. ...

[graciegirl]

Originally Posted by jmitchell

I have been reading these posts over the last year and have avoided getting involved, but I am now concerned that this information has become harmful and frightening people who might truly love living in The Villages. I am not sure that comparing The Villages to these smaller, completely different CDDs is appropriate in the sense that it does not provide an accurate analysis and, in my opinion, appears to be purposefully misleading. If “The Shadow” truly wanted to live in The Villages I think s/he would/should take a more proactive approach to sorting through these issues. So – why do I think that I am so smart and have all the answers – well I don’t, but I do have a Master's Degree in Public Administration, was the Founder of a publicly traded software company, and have worked for the Federal Government overseeing large government contracts. I am not trying to say that I know everything -- I state this just as a point that I do have some experience and education in both the public and private sectors that is relative. Since I don’t have the answers, what I will do is be proactive and get them. We close on our house on Oct. 12 and will move to TV full-time Nov 24. Along with getting settled in and having more fun than I ever thought was possible, I will begin researching this whole situation, joining the HOA group(s), talking with the CDD, going to the CDD New Resident Seminar to learn about their operation, reviewing the IRS information, etc. Then, with some “real facts” about The Villages CCDs, I will post information on TOTV so that anyone who chooses to read these posts can make their own decisions based on facts. I am not trying to be obnoxious, but I think that the U.S. was built by people who had good ideas and from what I can tell the family who started and continue to run The Villages had a good idea. They deserve to make money. That is how a capitalist society works – and I am not a Republican. Many cities, states, even counties fail and these are run by “public entities – people we elect” -- look at California (I was born and spent 40 years in CA). It appears that The Villages has been doing many things right and maybe some things wrong. But let’s take the time to find out and help keep it on track because it is an AWSOME place for adults to live!

I agree with P. Your post was helpful, informative and stress relieving.

I worry too, that these copies of the Orlando Sentinel articles are frightening people.

Shadow? I thought you lived here.

[BaylorBear]

[RVRoadie]

Originally Posted by JimJoe

Russ: I do not live in TV but have looked very regularly for that last 4 years. I just retired this year. I waited because I was not retired and because of the IRS issue and because I believe the economy is still heading down and prices for the types of homes I have been following carefully have dropped gradually but steadily. I have many examples. Now that I am retired I am more motivated to buy but I am still a price shopper. I don't mind renting in the meantime.
Thanks

I am not sure this is accurate. From my observations, prices on Designer homes hit bottom around April of 2009. Since then, discounts have dropped dramatically and prices have been steadily creeping up. I purchased in May of 2009 and my home recently appraised a little higher when I applied for a Home Equity Loan. I occasionally look at open houses comparable to mine, and they are always higher.

[Russ_Boston]

Originally Posted by jmitchell

I have been reading these posts over the last year and have avoided getting involved, but I am now concerned that this information has become harmful and frightening people who might truly love living in The Villages. I am not sure that comparing The Villages to these smaller, completely different CDDs is appropriate in the sense that it does not provide an accurate analysis and, in my opinion, appears to be purposefully misleading. If “The Shadow” truly wanted to live in The Villages I think s/he would/should take a more proactive approach to sorting through these issues. So – why do I think that I am so smart and have all the answers – well I don’t, but I do have a Master's Degree in Public Administration, was the Founder of a publicly traded software company, and have worked for the Federal Government overseeing large government contracts. I am not trying to say that I know everything -- I state this just as a point that I do have some experience and education in both the public and private sectors that is relative. Since I don’t have the answers, what I will do is be proactive and get them. We close on our house on Oct. 12 and will move to TV full-time Nov 24. Along with getting settled in and having more fun than I ever thought was possible, I will begin researching this whole situation, joining the HOA group(s), talking with the CDD, going to the CDD New Resident Seminar to learn about their operation, reviewing the IRS information, etc. Then, with some “real facts” about The Villages CCDs, I will post information on TOTV so that anyone who chooses to read these posts can make their own decisions based on facts. I am not trying to be obnoxious, but I think that the U.S. was built by people who had good ideas and from what I can tell the family who started and continue to run The Villages had a good idea. They deserve to make money. That is how a capitalist society works – and I am not a Republican. Many cities, states, even counties fail and these are run by “public entities – people we elect” -- look at California (I was born and spent 40 years in CA). It appears that The Villages has been doing many things right and maybe some things wrong. But let’s take the time to find out and help keep it on track because it is an AWSOME place for adults to live!

What s/he said!

Look forward to further comment.