[Lou Card]

The Orlando Sentinel for some unknown reason has been critical about the Villages for years. You need to get your information from any source other than them for an accurate take on what we have to worry or not worry about here in Paradise.

[JimJoe]

I do not think the IRS issue will become expensive for the villagers DIRECTLY. The IRS issue I think will be paid IF ANYTHING IS EVER OWED from the amenity fees, or from the amentities themselves. The problem is the fees are capped by the cost of living which does not anticipate the cost of the IRS issue. I think there could be some impact on amenities if some of them have to be sold to pay for the IRS issue, or if future amenities have to be membership based.
I think once it is resolved and who knows when that will be, it could impact the completion of TV if the result is that they can't sell tax free bonds to finance the purchase of the amenities from the developer, unless if it takes long enough for build out to be completed before it is resolved.
The money spent for attorneys was not spent by the developer. My guess is it was amenity fee money spent by the CDD. Does anyone know for sure where that money came from?
I think there are many ways to deal with this issue, but it is a concern of mine. TV is far too beautiful and nice of place to have this issue pending.
Please correct me if I am wrong.

[The Shadow]

Originally Posted by Lou Card

The Orlando Sentinel for some unknown reason has been critical about the Villages for years. You need to get your information from any source other than them for an accurate take on what we have to worry or not worry about here in Paradise.

You could get your IRS information from “The Villages Daily Sun”. See that’s me being really funny.

[Lou Card]

[QUOTE=The Shadow;287877]You could get your IRS information from “The Villages Daily Sun”. See that’s me being really funny.

No offence shadew, but I would take the word of the Villages Daily Sun before the Orlando Sentinel.

[jmitchell]

Originally Posted by The Shadow

Part One

“Villagers can take a deep breath on those fronts. Morse and his family are extremely well capitalized — fabulously wealthy is probably a better description — and because homes in The Villages continue to sell, default on the bonds is an extremely remote possibility.” SNIP………..

http://www.orlandosentinel.com/news/...5465947.column

“Last to Know”? This has not been happening for the last three years according to 90% of the people on this forum. Wake up and smell the IRS. 90% of the people will tell you the Orlando Sentinel is fabricating this, I remain undecided.

.

[BlueHeronFan]

Bravo!!

[Lou Card]

Originally Posted by jmitchell

BE PREPARED -- LONG POST Although I don't think "fabricating" is probably accurate, something is not right with these articles. After reading the information sent to me by bkcummingham, edvinmass, the IRS letters to The Villages, TV response to the IRS and the few other documents I have been able to find so far, these articles by the Orlando Sentinel are twisting things at best. IMO

For some reason, this is really upsetting to me. I do not think the Morse's or TV is perfect -- nor do I think TV is anything like these other CDDs that we are being compared to. EdVinnMass seems to have such good info and I am sure there are MANY other TVers that also understand the issues which is probably why it appears that many people aren't worried. I don't know "YET", but I don't think that the Orlando Sentinel information is accurate and IMO may even be purposefully misleading (not sure why, but then some people just like to "stir the pot". Given this, I got fed up and sent Ms. Ritchie the following email:

Ms. Ritchie,

My husband and I are going to be new residents of The Villages in October 2011. We are moving from the D.C. area and have both worked for the Federal Government. I am not sure that your current string of articles on The Villages and the IRS/CDD situation accurately present the facts. Your articles also seem to be scaring quite a few current and potential Villages residents unnecessarily. I for one do not like your "soap opera" reporting style.

Do you understand that most of these people are senior citizens who are trying to enjoy the remaining years they have left on this earth and that your articles are causing many of them unwarranted grief and stress. I am not yet a "senior". I am 50. My husband will be 60 in December. He also has cancer. I am sure that many other Villages residents also have illnesses. They do not need for you to add to their worries. If you have honest and accurate information that will help us preserve the lifestyle that we pay for and love, GREAT. If not, please stop causing us harm. How would you like it if someone was continually creating this kind of grief for your parents just so that they could get readers?

I have NO relationship to the Morse family. I am not a Republican – although I am a strong believer in our Country’s capitalist system. I do believe that you can be held personally liable for what you report. I plan to start looking into the "facts" in your articles, and together with other residents of The Villages, who are fed up with this game that you are playing with our community, will hold you responsible for any harm you have caused through your inaccurate and inflammatory reporting that seems to be meant for self-promotion purposes only.

Dang, Could I have your autograph. All kidding aside, I have never seen anything I could agree with more than this post. My problems is I was raised an Iowa Farm boy and went off to 22 years in the Army; their fore, sometimes I just can't say what I feel without ruffing up some feathers. But hear me clear when I say this: If there is anything I can do to make your move more pleasurable, please do not hesitate to contact me. Consider me available for anything you need to make getting settled made easier and I will be happy to help with whatever you need.

[villa2]

Originally Posted by graciegirl

creally? Not if you read totv. Unfortunately you need to be a forensic auditor to understand the problem. It has been explained many times but it is something that can't be put into one sentence. I don't think that all of these smart people are having the wool pulled over their eyes. I have never regretted buying in the villages, no matter what.

i think the democratic sentinel doesn't like all the money the morses throw to the republican party. That is my opinion.

bingo!!!

[JimJoe]

I have read the news articles, and the IRS and CDD letters and have tried to get the facts. I want to be informed.
I do not care to read attacks on the contributors from either "side". If they are wrong, please present the facts and show me.
We need to be informed and urge everyone to get this issue RESOLVED.

[Taj44]

Originally Posted by Bogie Shooter

I agree with most of what you say, however, you say "we don't know" and then go on to say "this could get very messy, and expensive for the residents". You just as easily could have said in the long run it won't cost residents anything. This becomes the irony of the issue.....We just do not know at this point. So why speculate and alarm?

I could have said that in the long run it won't cost the residents anything, except I don't believe that to be the case. Its already cost the residents $209,000!

[jannd228]

Originally Posted by Taj44

I could have said that in the long run it won't cost the residents anything, except I don't believe that to be the case. Its already cost the residents $209,000!

not to ask but has anyone asked a tax attorney or former IRS retiree who may live in TV questions, it might be helpful at some point

I am looking at TV and elsewhere now because of the posts I read here

[The Shadow]

Originally Posted by jmitchell

JimJoe,

I apologize if what I wrote came across as an “attack”. I was just trying to make the Orlando Sentinel and Ms. Ritchie take responsibility for their reporting. I too want the facts and I believe that news organizations have the responsibility to present the facts accurately and that we as citizens should make sure they do so.

I am just beginning to gather information and before I post details, I want to make sure my facts are accurate, but I will give you one, very clear example. Below is a sentence from the most recent article.

“The agency wanted $16 million in back taxes and a promise by community development districts never again to masquerade as a legitimate government.”

I have not read in any of the IRS documents that they asked for “a promise by community development districts never again to masquerade as a legitimate government.” What I believe she is trying to make reader believe is that TVCDDs or any CDDs for that matter are not “legitimate governments” – which they are per Florida Statute. Florida Statue also gives CDDs the right to issue bonds, including tax exempts bonds.

I will stop here. This is just one example.

“The agency wanted $16 million in back taxes and a promise by community development districts never again to masquerade as a legitimate government.”

More accurately,
The agency wanted $16 million in back taxes and a promise by community development districts never again issue tax free bonds.

Or
The agency wanted $16 million in back taxes and a promise by community development districts never again to masquerade as a government qualified to issue tax free bonds.

“masquerade as a legitimate government” That phrase was not used.

[graciegirl]

Originally Posted by JimJoe

I have read the news articles, and the IRS and CDD letters and have tried to get the facts. I want to be informed.
I do not care to read attacks on the contributors from either "side". If they are wrong, please present the facts and show me.
We need to be informed and urge everyone to get this issue RESOLVED.

JimJoe.

It isn't us that can resolve it. It is between the IRS and the Morses.

[graciegirl]

Originally Posted by Taj44

I could have said that in the long run it won't cost the residents anything, except I don't believe that to be the case. Its already cost the residents $209,000!

We really cannot make that assumption.

[JimJoe]

jmitchell:
I enjoyed your most recent post. I can see your point about the language used in the article. Maybe a better way to have said it would be they want 14 million dollars in back taxes and a promise not to issue tax free bonds.

I am not sure if CDDs are technically "governments". Do residents get to vote on the directors of the two commerical districts that issued the bonds? I don't think so but I could be wrong.

I doubt the State of Florida can authorize the use of FEDERAL tax free bonds unless someone had a private opinion letter from the IRS, which I do not understand why one was not obtained before these bonds were issued. I would think they had a bond attorney look at this before they were issued.

But my point is still this: whether the article used inflamatory language or not, owners and potential owners in TV have a need and a right to accurate information about this issue so they can make rational decisions about investing in TV. Going after the messengers on any issue only detracts from enlightenment. I understand there are times when it is necessary to point out the use of language that may be inaccurate or misleading. I never like it when discussions are reduced to who is stupid or not. I do give the Orlando Sentinel credit for shedding some light on this topic. I just want it resolved asap, and I would like to know why it is taking so long. Any ideas?

I do appreciate your imput on this topic. I would like to know if it is not too personal if any realtor informed you before you bought about the IRS issue, or did you have to ask about it? Thanks. JJ