Saturday, June 30, 2012

Carlyle's "Seminole Project": Tax Supported

The Carlyle Group, with over $159 billion in assets under management, will develop Catalyst, a mixed-use development near Florida State University, alongside Chance Partners LLC and the Community Redevelopment Agency of the City of Tallahassee.  MarketWatch reported:

The Community Redevelopment Agency will make a significant contribution to the Project   

The press release did not state the amount of public money going into Carlyle's coffers.  Tallahassee contributed $450,000 to a Marriott Residence Inn in 2006 and nearly $500,000 to another mixed-use development along with 30 parking spaces.  How much did Carlyle get in "significant contributions" for a $25 million project?

One might expect that information to be public.  It's not.

Update 7-2-12:  Another news piece on the subject made no mention of this significant contribution or its exact size.