BEND OVER MIAMI

A CRESPO-GRAM EXCLUSIVE
COPYRIGHT 2011(C)
THIS STORY CAN BE REPRINTED AND CITED BY OTHER 
NEWS ORGANIZATIONS ONLY WITH ATTRIBUTION TO 
THE CRESPO-GRAM REPORT
THE TRIP TO NEW YORK

PART II

Last Monday, when I posted the story about the CRA, the Carlisle Development Group and the settlement of the Crosswind lawsuits, one of the issues I stressed was a trip that Pieter Bockweg had taken to to New York to assure Carlisle’s bankers about the deal.


In the days that followed, I have been questioned about this claim by several folks who refused to believe that (A) Bockweg had taken such a trip, and (B) that I had relied on some malicious gossip.


To put those issues to rest, here is the copy of Pieter Bockweg’s request for reimbursement for that trip.

He flew to New York on the afternoon of April 13th, and returned on April 16th. 


The questions of possible impropriety that I originally raised centered around the fact that the Crosswinds deal was a 2 part affair, and that Bockweg’s efforts to meet with Carlisle’s bankers provided the appearance, if not the act of providing them with insider information. 


You see, the first part of the deal was a more or less a straight forward settlement with the developers of Poinciana Village and Sawyers Walk, who had become minority partners when Matthew Greer’s Skytown LLC, assumed a 90% ownership that included the 4 blocks on either side of NW 2nd Avenue, between 6th and 8th Streets.  The second part was a separate deal for the other 2 blocks of land between 8th and 10th Streets that would have a new “Developers Agreement,” issued to the developer selected after the issuance of an RFP by the CRA.


It’s that RFP, and the intertwined relationship revealed in the settlement agreement that posed a problem, because what good is issuing an RFP if you’ve already signaled in the intricacies of the settlement agreement who’s going to qualify, and have conveyed that information to the party’s bankers?


That was the allegations that were being made before last Monday’s meeting, and they will continue to cause problems unless and until the deal is separated, and the 2nd part of this scheme becomes a stand along deal that can pass the smell test.


I’m sure that there will be more parts to this story because I am now doing some preliminary research into the larger issues of what and how these Tax Credit Developers operate.


It seems to be an interesting business, this building of affordable housing using taxpayer dollars.

JULY 14, 2011


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