HERITAGE ISLES - Last week's meeting between homeowners and a committee responsible for gathering facts about this development's growing debt was supposed to calm nerves and provide options for anxious residents.

But that didn't happen.

Instead, many of those who didn't storm out said they were more confused than ever about Lennar Corp., the $7.3-billion company that owns Heritage Isles, a community approved for 1,600 homes.

"This meeting scared the hell out of me," Ed Steiner said. "I don't know what was truth and what was fiction. Everything tonight seemed to be a lot of guesswork."

In May, Lennar told homeowners that the Heritage Isles golf course, which was financed by tax-free municipal bonds, wasn't luring enough golfers to pay off the bonds. It's a familiar problem for Lennar, which faces a similar financial squeeze in Heritage Harbor.

Both Heritage Harbor and Heritage Isles are developer-controlled community development districts that rely on golf course revenues to pay off debt. 

At Heritage Harbor, Lennar agreed to spend at least $8-million in exchange for a $600-a-year increase in homeowner recreational fees. The homeowners' lead negotiator, Rick St. Pierre, said the arrangement would allow residents to own the clubhouse and lavish swim facility while also giving the community a shot at paying off the bond without any late penalties.

Jim Dowswell, a member of the ad hoc committee in Heritage Isles, doesn't think the Heritage Harbor agreement is a good one because homeowners don't end up owning the golf course.

But during Dowswell's presentation to his fellow homeowners at the New Tampa Regional Library on Tuesday night, an audience of about 30 homeowners peppered Dowswell with questions seeking specifics. How much money is the Community Development District losing? What's our legal strategy? What do we do next?

Dowswell's vague answers didn't satisfy many who attended.

"Goodbye, this is ridiculous, ludicrous," shouted one man who left during the meeting. 

Committee members blamed their uncertainty on key issues on their inability to get crucial documents from Lennar.

"We've run into so many stone walls from Lennar when we've tried getting information," John Clark said. "Until we get full disclosure, it's very difficult to go forward. I didn't like the tone of the meeting. Nothing good is going to come out of panic."

Bill Kouwenhoven, communities manager for Lennar's North Florida Land Development Division, wouldn't comment.

Dowswell wants to hire an attorney to represent homeowners during negotiations with Lennar.

Clark, however, said he wasn't sure that would be a good idea at this point.

"What happens is that a lot of paperwork goes back and forth, and six months later, you're still where you're at," Clark said. "I just want to know where we're at. There's no doubt the financial state isn't very good."

Dowswell said he expected Tuesday night's confusion.

"There was a lot of excitement, that's for sure," Dowswell said. "When people realize they're being hoodwinked, they'll jump on board."