The developer of Cornerstone stands to get $11 million to $17 million for building the complex in downtown Coral Springs, officials said this week.
Officials explained that the money would go to the master development company, Predeso Property Investments, from the additional tax revenue expected from the spike in the value of the property on which the housing, retail, and hotel development is being built on the southwest corner of University Drive and Sample Road.
Those figures were discussed during Monday’s Coral Springs Community Redevelopment Agency meeting during which Predeso Property Investments was seeking to update an agreement with the agency, which included the payment – rebate as it’s called – the company is set to get for planning the construction of the two main buildings and a hotel building.
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