WHEN ALL HOUSES ARE BUILT WHO DO YOU THINK WILL RUN THE VILLAGES?

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  #31  
Old 01-27-2008, 10:57 PM
bargee bargee is offline
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Default Re: WHEN ALL HOUSES ARE BUILT WHO DO YOU THINK WILL RUN THE VILLAGES?

Sure turn it over to the VHA instead.
  #32  
Old 01-28-2008, 04:16 AM
Boomer Boomer is offline
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Default Re: WHEN ALL HOUSES ARE BUILT WHO DO YOU THINK WILL RUN THE VILLAGES?

Under this kind of governance, who is responsible for investing the money that comes in, I assume, from the amenities fees? (or do I have that straight?)

Is there anything in Florida law that governs investment of such funds?

-or can whoever just go off and buy Beanie Babies or art collections or some insurance company product that somebody's brother-in-law is selling?

There are some public pension funds that have made some terrible investments, some of which were beyond just a bad stock or two. People who do not know what they're doing have no business investing other people's money. But it happens all the time, especially in political positions.

So who watches over the residents' money?

TV is so beautifully maintained now. After the transition, can it stay that way?
  #33  
Old 01-28-2008, 05:52 PM
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Villages Kahuna Villages Kahuna is offline
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Default Fiduciary Responsibility

Once the residents take over their positions on the district governing bodies are elected positions. I suppose one might say that you won't have any better assurances that the resident district government will manage our money properly than we did when we lived up north. That's a question that seldom came up in city, county and local governments that had been in place with elected officials.

As far as the amenities fees, that gets paid to the central commercial districts that will own and run the recreation programs. Those districts are still owned and governed by the developer of TV. Florida state law governs the "community development district" form of government (which is what all the districts are here in TV), but I'm not certain of all the nuances of the law as it relates to fiduciary responsibility.
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  #34  
Old 01-28-2008, 07:21 PM
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Default Re: WHEN ALL HOUSES ARE BUILT WHO DO YOU THINK WILL RUN THE VILLAGES?

Then the 8 resident run CDD's could evolve into 8 separate communities and could have vastly different laws & regulations.
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  #35  
Old 01-28-2008, 08:22 PM
jime jime is offline
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Default Re: WHEN ALL HOUSES ARE BUILT WHO DO YOU THINK WILL RUN THE VILLAGES?

I, for one, shudder at the thought of the residents "running" anything here in The Villages. While nothing is perfect, the founders and heirs of The Villages at least have the common good of the majority of the residents at heart; people appointed, elected or put in office by some other means to "run" things here will have their own self-serving interests in mind. I hope I'm wrong, but I forsee major problems if and when expenditures of the amenities fees and responsibilities for recreational activities is put in the hands of the residents.

Those advocating turning over the responsiility to the POA or the VHA have apparently never read their completely one-sided "the developer can't do anything right" comments; what a joke!
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