[taylor111947]

I loved my visit to the Villages, but I have concerns about the problems with the IRS. I can't seem to find anything written that explains (in easy to understand language) the whole issue from a neutral point of view. Can anyone steer me in the right direction?

[Bogie Shooter]

Originally Posted by taylor111947

I loved my visit to the Villages, but I have concerns about the problems with the IRS. I can't seem to find anything written that explains (in easy to understand language) the whole issue from a neutral point of view. Can anyone steer me in the right direction?

Here is a thread that has 77 posts with probably 80 different opinions.
Have fun!
A post from Lauren Ritchie

[graciegirl]

It is so hard to get an unbiased opinion on this. Follow the money. Who has a dog in this fight? (Russ's great quote)

The journalists need to sell papers. The Morses contribute a great deal to the Republican party. The other developers close by want to sell homes. The form of government here is unusual but used in other areas in Florida. It is not easy to understand.

I believe that the Morse family are decent people who are not trying to trick anyone; us the homeowners or potential homeowners or the federal government.

[bkcunningham1]

Very shortly after my husband and I first discovered The Villages in the fall of 2009, I found this forum. I joined and read reams of posts before I bolstered my nerve and posted my first question. In my reading on the forum I discovered the IRS and bond discussions. It was very confusing and very disturbing to us. Then I tried to educate myself.

The two entities involved in the dispute are The Villages Community Development Districts and the Internal Revenue Service. In my opinion, these two would be the best source of information. Since the IRS won't discuss individual investigations, the other source of information is from The Villages Community Develpment Districts website. You can argue that TV's VCDD is going to give you one-sided info, but remember, what they post is public information for everyone, including the IRS to argue, see, dispute or use for or against them. In other words, it better be factual or it can come back to haunt them.

This link opens and gives you five PDF files. Start with the last PDF file and read to your heart's delight. It has excellent background info on the formation of TV and will give you background on the dispute. This is a good start for understanding the issue.

http://www.districtgov.org/IRSupdate.aspx

[Pturner]

I agree with GG that the Morses aren't likely motivated by a desire to trick anyone. I think their motivation is merely to maximize profits.

As do many enterprises and grand-scale entrepreneurs, I think the Morses court-- and have amassed-- a great deal of political influence, lobby for favorable rules and regulations, and seek and exploit loopholes that enable them to expand their fortunes.

As Russ says, "That's just my opinion. I could be wrong."

[ssmith]

I, like you, am a Wannabe (forever it seems). I believe you have an honest question. After reading all of the posts and there have been many, I have come to the conclusion that there are just too many people in TV (and other communities) that would be affected negatively if the IRS wins so...it may be a naive approach, but with that in mind, I gladly put it away and have moved on. As the dear Sage, Gracie, has said...we don't know about tomorrow but you shouldn't let the worries of tomorrow keep you from enjoying today. In other words no one knows how this will end up; but if it takes 10 years, then you would have had 10 years of enjoyment in TV. (that BTW is not a direct quote of Gracie...a paraphrase- she expressed it much better than I). Our conclusion is that, for us, we will go ahead and pursue a future in TV, Lord Willing of course. That's just our opinion. HAPPY INVESTIGATING to you!!!

[bkcunningham1]

Oh, sorry to mislead you. I'm not a wannabe. As of January 2010, we are proud homeowners in TV. After one Lifestyle Preview Plan visit, we were hooked. After much reading and research, I'm not worried about the future of TV based on the IRS bond issue. Who knows what tomorrow is going to bring for any of us? TV could go on till the world is on fire or fall apart tomorrow. Some tragedy could strike in my life, God forbid, that would make the bond issue look like peanuts. We didn't go into buying a home in TV blindly either. We did it with the full knowledge that life is short and the older you get the faster it goes by. We enjoy every minute we are together....whereever we are. I don't want to offend anyone, but my philosophy is based on two basic beliefs I hold: James 4:13 and Matthew 6:25.

[ssmith]

To BK...sorry I didn't mean to imply you were a Wannabe...I thought I had directed my response to the original poster...Taylor. Good to know there are other people with the same perspective in TV. ( I have found that writing respnses can often be taken wrongly...not with the origianl intent). Hope I did not offend.

[bkcunningham1]

Nooo, no offense taken. It was my bad and my ego thinking your comment was directed toward me...lol. I hope my tone wasn't misinterpreted either. I used to read Gracie's comments always in defense of TV and smile to myself thinking, boy howdy, she really is TVs biggest cheerleader. Now I find myself putting on the same uniform as Gracie.

[Taj44]

The following is a link to the Property Owners Association of The Villages, and their assessment of the IRS lawsuit. I believe it is factual, balanced look at what has transpired, and what could be in store for The Villages in the future. http://www.poa4us.org/bulletins_file...etin200909.pdf

[kentucky blue]

It was interesting on our visit, that the sales person never brought up the IRS problem, and the bond situation was addressed only after we asked residents.It's just a matter of knowing all the facts up front, no surprises, so you can make a well informed decision . With everything TV has going for it, the terrific lifestyle and it's wonderful residents.......caveat emptor.

[Pturner]

Originally Posted by kentucky blue

It was interesting on our visit, that the sales person never brought up the IRS problem, and the bond situation was addressed only after we asked residents.It's just a matter of knowing all the facts up front, no surprises, so you can make a well informed decision . With everything TV has going for it, the terrific lifestyle and it's wonderful residents.......caveat emptor.

Neither our TV sales person nor our MLS Realtor brought it up, a fact that did not surprise me, as developers often have pending legal issues and real estate agents don't generally commment on them. Neither sales person minded our asking questions about it.

Personally, I think it is best to know about it in advance. That way, if it would have been a deal killer for you, you'd walk away. Even if it wouldn't be, learning after-the-fact could cause unnecessary anxiety.

We bought knowing. We're satisfied with the low probability of a worst-case outcome. (I think the unlikely worst-case would be that the VCDDs-- collectively all homeowners-- would have to refi the debt, plus pay taxes and penalties and not be able to recoup anything from the developer. I repeat, that seems unlikely to me.)

So, good question Taylor. I'm glad you asked. It's something you should know as a prospective TV homeowner. If you decide to buy, as we did, I wouldn't lose a minute's sleep over it. Unless it drags on forever (it might), it will play itself out, probably with a reasonably equitable resolution.

Again, as Russ says, that's my opinion. I could be wrong.

[graciegirl]

Originally Posted by Pturner

Neither our TV sales person nor our MLS Realtor brought it up, a fact that did not surprise me, as developers often have pending legal issues and real estate agents don't generally commment on them. Neither sales person minded our asking questions about it.

Personally, I think it is best to know about it in advance. That way, if it would have been a deal killer for you, you'd walk away. Even if it wouldn't be, learning after-the-fact could cause unnecessary anxiety.

We bought knowing. We're satisfied with the low probability of a worst-case outcome. (I think the unlikely worst-case would be that the VCDDs-- collectively all homeowners-- would have to refi the debt, plus pay taxes and penalties and not be able to recoup anything from the developer. I repeat, that seems unlikely to me.)

So, good question Taylor. I'm glad you asked. It's something you should know as a prospective TV homeowner. If you decide to buy, as we did, I wouldn't lose a minute's sleep over it. Unless it drags on forever (it might), it will play itself out, probably with a reasonably equitable resolution.

Again, as Russ says, that's my opinion. I could be wrong.

Two of my favorite writers are PTurner and BKCunningham. ( I looked up your Bible quotes, BK.)

[taylor111947]

Thanks so much for all the responses and links to information. On my visit, as I had lunch at the Veranda and as I looked out over Sumter Landing, I found myself asking the question - 'Why in the world would I not want to live here?'

I'm sure a better understanding of these issues and the potential effect on the homeowners will help make the decision easier.

Hope to be seeing you all soon.

[laryb]

Originally Posted by taylor111947

Thanks so much for all the responses and links to information. On my visit, as I had lunch at the Veranda and as I looked out over Sumter Landing, I found myself asking the question - 'Why in the world would I not want to live here?'

I'm sure a better understanding of these issues and the potential effect on the homeowners will help make the decision easier.

Hope to be seeing you all soon.

Well this post confirms our suspicions, they are putting something in the water at the Veranda! We have been to the Veranda on all of our "scouting" visits and love it. After signing all the documents to buy our land, we went there for breakfast. As we sat there I asked my wife "do you think we made a good decision?" And her reply was " Are you kidding me?? Look at this place. If I'm leaving home, this is the only place I'm going!!" When my wife speaks, I listen.