Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   A post from Lauren Ritchie (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/post-lauren-ritchie-21661/)

Bogie Shooter 03-05-2010 11:12 AM
Quote:
Originally Posted by iaudit (Post 252118)
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 03-29-2010 02:00 PM
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 03-29-2010 02:31 PM
Quote:
Originally Posted by James Madison (Post 256690)
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.


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