[aljetmet]

Originally Posted by janmcn

Is this going to be different from the facilities north of 466 which were turned over to the VCDD at a highly inflated price to the residents?

Is this related to the IRS issues where the Developer sold the future value of amenity fees to the VCDD? which sold tax free bonds to the public and handed the proceeds to the Developer?

I must admit I was under the impression that tax free bonds were to be used for public works. How could tax free bonds be used for up keep of pools and golf courses?

Hopfully I'm just a confused and uninformed wanabee....

[Carla B]

Another thing to consider is what happens as the population ages and dies off. We own a condo in a 400-unit complex built in the late 1970s. A few of the original occupants still live there. As can be expected several owners move on or die each year. Families who inherit the property are willing to sell at a low price to get rid of the responsibility of ownership, thereby driving prices down.

Even though the buildings are 35 years old, the complex is in a good location by the water, has strong management, and is beautifully maintained. But it is not drawing enough new buyers to replace the old and keep the prices up.

Maybe this is part of Sun City's problem? I've heard the term "old" used to describe Sun City Center FL near Tampa, meaning the general feeling of the place. If there aren't enough younger people moving in to replace the older ones that is the result. So the key would be to keep the development vibrant enough to encourage younger retirees to keep coming and hope no one builds a more appealing product in the meantime.

[whistling dixie]

This thread hits on my major concern. The issue of ownership of the amenities, the amenities fees and who receives them and what happens when TV is built out. When the facilities were sold to the home owners in the old section, did their amenities fees go with them? If not, how do they pay for the maintenance of those buildings? I also don't understand why IRS is going after the home owners on the bond investigation? As I understand the issue, they should be going after the builder, no?

[Pathel]

Originally Posted by janmcn

Is this going to be different from the facilities north of 466 which were turned over to the VCDD at a highly inflated price to the residents?

Says who?

[skyguy79]

Originally Posted by EdVinMass

But keep in mind that unlike a traditional residential community developer, after the build out, this developer and his extended family will have a huge commercial property base to manage and continue to profit from.

I was thinking similarly! After build out there will still be a whole lot of money to be had in just their pre-owned home sales department alone without even considering all their commercial sources or future ventures. IMHO, I believe their will be plenty incentive for the developer and their heirs or successors to maintain TV, both visually pleasing and recreationally rich for many future generations. Besides, who knows what plans they may have in mind for the future that hasn't been revealed to the public yet?

[JohnN]

yes, you're crazy. if that's all that's holding you back, you'd better just jump on in. This place has a lot going for it in size and money.

[keithwand]

Sun City Center is a different animal. My parents lived on the lake on Flamingo Ln from 1992 until my Dad passed in 1997 and my Mother passed in 2010.
The area has deteriorated from when they first moved in.
It seems people just don't take care of their homes.
There was/ is a definate lack of restaurants and services. It was huge to finally get Home Depot and Walmart. They had to jump on I75 to do most anything inc. a movie.
This is where I got my negativity towards 55+ comm. UNTIL visiting TV.
We can't wait to the Design Center thing in 2 weeks and start building.

[janmcn]

Originally Posted by Pathel

Says who?

This subject has been covered in great detail on this forum and in the newspapers for the last ten years.

[BobKat1]

We've spent time in a couple of the older areas of TV and yes some homes in those areas are a bit "tired" looking.

IMO it's to be expected as the homeowners age, pass away etc. It happens everywhere.

We've been wondering if these older homes/neighborhoods will get revitialized as new retirees buy them at a good price and update the exteriors, landscaping etc. Or if they'll opt for new homes until the build out.

[NJblue]

Originally Posted by EdVinMass

Sorry but the turnover does not include the recreational facilities, clubhouses, pools and executive golf courses that are in those districts. They are, and will remain the property of the developer. They are maintained by your amenity fees but are and will be managed by a board of trustees that he and he alone appoints.

This is not exactly true. The developer has turned over/sold all of the amenities north of 466 and a small portion of those south of 466 to the CDD. The plan is that he will eventually turn those over as well. The CDD, headed by Janet Tutt, runs all of the amenities, including those still owned by the developer. Currently the CDD collects all of the amenity fees and then pays a prorated portion of these back to the developer for the share that he still owns. The developer in turn pays the CDD for the cost of running them.

Why haven't more of the amenities been turned over? My guess that the hold up is the resolution of the tax issue - they need a clear guidance on whether the bonds that the CDD will sell to acquire these amenities can be sold as municipal bonds or not.

[NotGolfer]

By the mid-30's we won't be here to have to think about it. Anyway think it's been taken care of and it will all be fine!!!

[Golfer in Sanibel]

Originally Posted by NotGolfer

By the mid-30's we won't be here to have to think about it. Anyway think it's been taken care of and it will all be fine!!!

My thought, exactly.

[kentucky blue]

Originally Posted by NotGolfer

By the mid-30's we won't be here to have to think about it. Anyway think it's been taken care of and it will all be fine!!!

I believe that statement is the perfect example of the idiomatic expression................."Bury your head in the sand".We all need to educate ourselves about TV long term plans, and the part we can play , in making sure TV is just as captivating to all future residents.

[Irishmen]

The 3 counties have to maintain all the roads no matter. It's why we are not a a true gated community. The sales staff of The Villages act like ears and eyes for the developer. Any weeds on the golf course, flower beds dead, or any other issue affecting sales is immediately reported and taken care of.

[Happy Villager 1]

The beauty of The Villages is what first caught our eye and was the main contributing factor in choosing to buy here. We love living here "but" there is a situation in our neighborhood with one homeowner whose property is definitely an eyesore and has been for four or five months now. There are golf figures up on the front shutters, the grass has been killed by chinch bugs and the lawn has looked like a sandbox for months. The son of the owner is playing at landscape and is making it worse. It truly is an eyesore and the talk of the neighborhood! One of the neighbors did recently file a complaint.
Now the neighborhood is waiting to see what can or will be done. If you want to see for yourself take a drive to Livingston Loop located near the Churchhill St Rec Center and hope this doesn't occur where you live.