Matthew Greer
The Carlisle Development Group, a Miami-based subsidizing housing developer with more than $1 billion in completed projects, has a trial date set for a supposed $5.1 million loan default at Regents Bank.
The Regions lawsuit follows the disclosure earlier in the week that Carlisle is facing a grand jury investigation into allegations that it defrauded taxpayers by padding construction costs for public projects in Miami-Dade and Broward counties.
The grand jury is focusing on two of Carlisle’s chief executive officers, Matthew S. Greer, and retired CEO and founder Lloyd J. Boggio, as well as a general contractor Michael K. Runyan, according to the subpoena.
The for-profit Carlisle Group, the third-largest affordable-housing developer in the U.S., has received accolades for its well-designed apartment buildings.
Regents has said Carlisle violated a 2002 contract when it defaulted on a $6.5 million loan. Carlisle has denied liability in the case.
According to local press, Carlisle has completed more than 80 projects with a value of about $1.4 billion.
In recent years, the defendants have gained prominence for making at least $68,000 in donations to South Florida political action committees, particularly for mayor and commission races, local media reported.
A U.S. District Court judge denied Carlisle’s request for a dismissal in the Regents suit, setting the court date for Sept. 8.