Four Resign From Live Oak Preserve CDD Boards: "LIVE OAK PRESERVE - Days after an announcement by parent company TOUSA to wind down production, Engle Homes, the developer of Live Oak Preserve, is relinquishing some of its authority at the development. Engle Homes Vice President Rick Feather said all Engle employees who serve on the Live Oak I, Live Oak II and The Hammocks' community development district boards are stepping down immediately. 'We resigned under the advice of counsel,' Feather said. Feather served as a board supervisor on all of the three developer-controlled CDDs. Engle employees Lauren Arcaro, Dennis DeMott and Michael Mulvihill were members of the Live Oak II and The Hammocks boards. The taxing authorities are in charge of setting the budgets and overseeing management of the common areas throughout the community."
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If I read this article correctly, TOUSA is going out of business, as in "...wrapping up construction projects, selling off its inventory of homes and not planning to build any new ones."
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