To the Editor:
As a committed member of this community, I am writing to express serious concern over the CRA Board’s (Community Redevelopment Agency) recent June vote to grant an estimated additional $2 million in public funding to the developer of the project at the southwest corner of Sample Rd and University Dr (Cornerstone). This would bring the total public contribution to roughly $11 million.
This decision is troubling for several reasons. The developer has repeatedly failed to deliver on promises made to the community. Key components of the original plan—such as a hotel, commercial and office space, and for-sale condos—have been significantly reduced or eliminated. Yet the developer continues to receive public funds, now with even fewer conditions.
Supporters of this decision claim it aligns with the “original agreement” from 2019, which allowed for a 75% Tax Increment Financing (TIF) payout—but only if, and after, all phases of the project were completed as outlined in the development agreement. That has not happened. The original vision for the project will not be delivered.
Despite this, in 2023 the CRA approved, as per developer request, an early release of funds for part of the project (South Tower), reducing future TIF from 75% to 50% as a concession. This was accepted by the developer. Now, without any restoration of the original scope, the CRA Board has voted to reinstate the full 75% TIF for the northern block—handing to the developer a potential additional $2 million with no new public benefit.
The facts matter. The 2019 agreement tied TIF funding to the completion of a project that included a hotel (85 rooms minimum), 125,000 square feet of commercial retail, entertainment and office space, and limited (300) residential units with 500 parking spaces. Over time, the developer quietly altered the project: the hotel was eliminated (sorry Mayor, no rooftop bar), commercial and office space were cut to 45,000 square feet, condos became rentals, and residential units were more than doubled (704) with 1300 parking spaces. These changes amount to multiple breaches of the original development agreement.
This recent vote results in additional dollars to the developer and is a clear misuse of public funds. These millions could be better invested in new projects that truly revitalize Downtown Coral Springs—projects that bring in businesses, jobs, and public amenities. Instead, the Board approved more funding for a developer who has not lived up to their commitments and defaulted on his contract. Even more concerning, this vote came just minutes after the Board discussed the lack of funding for exactly those types of needed projects.
This is more than poor judgment, a damaging decision that undermines public trust and the future of our Downtown. If the Board were truly following the original agreement, the developer would have received nothing, not more.
We call on the CRA Board to rescind this vote immediately. The people of Coral Springs deserve accountability, transparency, and responsible financial leadership.
Sincerely,
José “Joe” Morera
