[beckylou152]

An article in The Villages News article says that the developer is selling off the amenities in the southern part of TV. Does anyone know if this is true and what this means?I can’t get the link to work.

[Bill14564]

Originally Posted by beckylou152

An article in The Villages News article says that the developer is selling off the amenities in the southern part of TV. Does anyone know if this is true and what this means?I can’t get the link to work.

The Developer is selling the amenities to the respective Sumter Landing CDD that owns all the utilities south of 466. This is normal. This the way the SLCDD acquired the amenities that I use.

[UsuallyLurking]

Originally Posted by beckylou152

An article in The Villages News article says that the developer is selling off the amenities in the southern part of TV. Does anyone know if this is true and what this means?I can’t get the link to work.

The article indicates that the amenities (rec centers, executive golf courses) will be sold to the Sumter Landing CDD (which currently owns all of the amenities between 466 and 44 -- the Village Center CDD owns the amenities north of 466).

As the previous poster noted, this is standard procedure. It is important to note that the sale not only includes the amenities, but also the amenity contracts of the residents in those areas (yes, their amenity dollars have been going to the developer -- for maintenance of the amenity facilities as well as for anything else the developer wants to use them for). I would imagine that the Sumter Landing CDD will issue bonds to pay for the purchase, which will be paid for by the amenity fees it collects from residents.

[graciegirl]

Originally Posted by beckylou152

An article in The Villages News article says that the developer is selling off the amenities in the southern part of TV. Does anyone know if this is true and what this means?I can’t get the link to work.

This is normal and how it has always worked;

The Developer acquires property and builds on it and when it is finished, he "sells" it to the CDD, in other words transfers over to be controlled by the Districts. Nothing is changing. It will be just fine. Just like the others have said.

Not to worry.

Well go ahead and worry if you want to, but not about THIS. xoxox

[Rainger99]

Does anyone know how the price is determined? Do both sides have somewhat equal bargaining power?

What happens if they can’t agree on a price?

[BrianL99]

Originally Posted by beckylou152

An article in The Villages News article says that the developer is selling off the amenities in the southern part of TV. Does anyone know if this is true and what this means?I can’t get the link to work.

PFM Consulting has been retained to manage this sale and the appraisals. They are probably the premier municipal consulting company in the USA and this is exactly the kind of stuff they specialize in.

[rustyp]

How can I submit a bid ?

[golfing eagles]

Originally Posted by Rainger99

Does anyone know how the price is determined? Do both sides have somewhat equal bargaining power?

What happens if they can’t agree on a price?

I'm sure you could get those answers if you were a party to the sale. Are you?????

[Rainger99]

Originally Posted by golfing eagles

I'm sure you could get those answers if you were a party to the sale. Are you?????

I believe that we are all third party beneficiaries to the contract. Isn't the contract being made for the benefit of the people who reside in the Districts?

A third-party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract.

Wouldn't that information be available through Florida's Sunshine Law?

[Two Bills]

I have already put a bid in for Richmond.

[golfing eagles]

Originally Posted by Rainger99

I believe that we are all third party beneficiaries to the contract. Isn't the contract being made for the benefit of the people who reside in the Districts?

A third-party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract.

Wouldn't that information be available through Florida's Sunshine Law?

Probably. But my response was funnier 😂😂😂

[Laker14]

Originally Posted by golfing eagles

Probably. But my response was funnier 😂😂😂

I have to agree.

[Bogie Shooter]

Originally Posted by Rainger99

I believe that we are all third party beneficiaries to the contract. Isn't the contract being made for the benefit of the people who reside in the Districts?

A third-party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract.

Wouldn't that information be available through Florida's Sunshine Law?

Probably, if you like wasting your time on such thing…..go for it.

[tophcfa]

Originally Posted by Rainger99

Does anyone know how the price is determined? Do both sides have somewhat equal bargaining power?

What happens if they can’t agree on a price?

That’s a reasonable question, one would hope it’s a true arms length transaction since it involves the residents Ammenity fees. It’s definitely questionable that the parties involved are truly independent and have equal bargaining power, it’s been that way forever (by Villages time).

[BrianL99]

Originally Posted by golfing eagles

I'm sure you could get those answers if you were a party to the sale. Are you?????

Originally Posted by golfing eagles

Probably. But my response was funnier 😂😂😂

Originally Posted by Laker14

I have to agree.

Originally Posted by tophcfa

That’s a reasonable question, one would hope it’s a true arms length transaction since it involves the residents Ammenity fees. It’s definitely questionable that the parties involved are truly independent and have equal bargaining power, it’s been that way forever (by Villages time).

I'm not sure who's funnier.

I suspect the property is essentially "appraised" using an income approach (income being amenity fees) and a selling price is determined from there.

I doubt there's immediate agreement from both sides, when presented with the initial appraisal, so I'm guessing it's subject to some negotiation ... which may be exempt from Florida Sunshine Laws, depending on who's attending or participating.