[fred boswell]

I have been a bit baffled by the bonds to the point of getting a headache and found an informative post entitled "2015". The Villages are self contained as far as maintaining the infrastructure.

Hence the question of what do you get for your tax dollars?

[villages07]

Our county property taxes go to the normal array of county services... Not necessarily services that we all make great use of but that which is necessary to sustain a county. The roads are public roads and maintained by the county. We also pay into the education system, master planning, zoning, libraries, health dept, etc. Go to the Sumter county website to see the various departments. There was also a high level summary of the next years budget in today's paper.

[graciegirl]

Originally Posted by fred boswell

I have been a bit baffled by the bonds to the point of getting a headache and found an informative post entitled "2015". The Villages are self contained as far as maintaining the infrastructure.

Hence the question of what do you get for your tax dollars?

I can understand that you would get a headache. When we see something so smoothly run, so beautiful, so well maintained, so extraordinarily wonderful, so affordable and populated with thousands of busy smiling people, we become suspicious. We have all lived long enough to know that this place is way to good to be true.

But it isn't.

Stepford Gracie

[fred boswell]

Thank you for your responses. I didn't want to impose by asking too many questions and I was researching previous posts to get answers regarding the bonds so I could get the answers without being a bother.

This site is a wealth of information for anybody doing their due diligence before buying.

I bought both guides to the villages and many of my questions have been answered.

One question I haven't been able to answer is what happens when the developer completes building as far as the CDD's and amenities are managed, owned.

[Bogie Shooter]

Originally Posted by fred boswell

Thank you for your responses. I didn't want to impose by asking too many questions and I was researching previous posts to get answers regarding the bonds so I could get the answers without being a bother.

This site is a wealth of information for anybody doing their due diligence before buying.

I bought both guides to the villages and many of my questions have been answered.

One question I haven't been able to answer is what happens when the developer completes building as far as the CDD's and amenities are managed, owned.

You just need to keep reading....the guesses to answer your question are buried in all those "bond" posts.

[fred boswell]

Thanks to the Big Kahuna.

On page 110 I found my answer to what happens when the developer completes the project.

The operations are turned over to the home owners and are overseen by a Property Owners or Home Owners Association Board.

The trick is to elect the right people to the Board and not the most popular.
The second critical thing is to hire good managers/employees to run things
Most importantly be sure that the developers leave enough in monies for the transition from developer owned management to homeowner oversite.

Apparently your Property Owners Association is doing just that after seeing the sizeable settlement from the developer in litigation.

I bought a vacation home in South Jersey during the developmental stage and the HOA started an escrow fund for when the transition took place. We wanted a years worth of operating expenses when we took over operations and if we had to take the developer to court for any reason. Litigation didn't happen.

There are 350 units, small compared to the Villages.

I am happy to report that after 23 years after the project started and 9 years of owner ownership, all is well. Great board for the last four years after several years of knuckleheads and the condo fee is reasonable.

In summation, i believe the villages will remain as it is currently. The best place to retire to.

[eweissenbach]

I live on a man-made lake in northwest missouri. The lake was built in 1967 just before I began coaching at the nearby high school. The developer built infrastructure, roads, beaches, a clubhouse with a pool, and sold lots. The developer pulled out after about 6 or 7 years and turned over the remaining lots and the responsibility for managing the lake to the homeowners association. The lake has continued to grow and prosper, and has been managed beautifully by an elected board and a full time lake manager, security crew, and maintenence crew, along with a couple of administrative assistants. Our lake community is thriving and actually enjoys a substantial surplus, while being subsidized only about $650 per lot per year (I would guess we have about 1500 -2000 lots). Unfortunately there were several lakes built around the same time by the same developer in the midwest, and almost all of the others have experience difficulties. One thing that helps us is our proximity to Kansas City (60 miles) and St. Joseph (35 miles), while some of the other lake communities are relatively far removed from population centers. All this merely suggests that a community that is made up of well intentioned, diligent, and intelligent home-owners can certainly thrive after the developer pull-out. I am pretty confident that the make up of the Villages would indicate a successful transition.

[EdV]

Originally Posted by fred boswell

.....The operations are turned over to the home owners and are overseen by a Property Owners or Home Owners Association Board...

Please be sure that you understand that the amenities in TV (executive courses, rec centers, pools, etc.) will remain the property of the developer and will never be turned over to the homeowners in TV. This is clearly stated in the Declarations of Restrictions that each new homeowner signs.

What does eventually get turned over to the owner elected trustees is the management of the common grounds within each CDD. The trustees then establish an annual budget for this maintenance and assess each homeowner an annual maintenance fee. This fee is in addition to your amenities fee and your annual bond repayment.

[zcaveman]

Originally Posted by fred boswell

I have been a bit baffled by the bonds to the point of getting a headache and found an informative post entitled "2015". The Villages are self contained as far as maintaining the infrastructure.

Hence the question of what do you get for your tax dollars?

When you are talking real estate taxes are you talking about the $300 and up that is on the non-valorum part of the annual property tax form? If so, this is what your CDD charges you for the upkeep of the general area of your CDD - roads, flowers, mowing, painting, etc. There is nothing more.

The bond is for the infrastructure - roads, curbing, sidewalks, sewers, cart paths, tunnels and installation of trees, flowers, landscape BEFORE the village is built.