The Carlisle Development Group won the right to build a Miami-Dade County-owned public housing complex, despite an ongoing federal grand jury investigation into the developer’s alleged misuse of tax subsidies in affordable housing projects, the Miami New Times reported.
The project at 1146 NW Seventh Ct., in Overtown, a historically-black neighborhood, lies in the district of Commissioner Audrey Edmonson, who was a major beneficiary of Carlisle funds for her reelection campaign last year, according to the New Times.
Carlisle — headed by CEO Matthew Greer — is set to receive $2.5 million in tax credits that it will use as collateral to secure a $1.2 million construction loan from Bank of America, according to county documents seen by the New Times. The project is estimated to cost about $2.4 million.
A disclosure from the U.S. attorney’s office in April revealed that Carlisle, Greer and the company’s founder Lloyd Boggio are under investigation following allegations by former executives that it defrauded taxpayers by padding construction costs for public projects in Miami-Dade and Broward counties, as The Real Deal has reported. [Miami New Times] — Hiten Samtani