[Bogie Shooter]

Originally Posted by iaudit

Are you saying that other communities in Florida used Central Districts to purchase recreational facilities at inflated prices with tax-free bonds? I believe that the Villages is unique in the way that the CDD's were structured and administered.

Yes.

[James Madison]

Pardon my ignorance, but I am studying on a similar issue at another POA and am in need of understanding.

Are the IRS allegations, that the CDD issues the tax exempt bonds a problem because the developer still has majority control of the supervisory board...?
Thanks, J.M.

[Bogie Shooter]

Originally Posted by James Madison

Pardon my ignorance, but I am studying on a similar issue at another POA and am in need of understanding.

Are the IRS allegations, that the CDD issues the tax exempt bonds a problem because the developer still has majority control of the supervisory board...?
Thanks, J.M.

That's not the issue. The issue is if the developer is able to issue tax exempt bonds.