CRA Amends Major Deal With LA Boca Partners for Downtown Development
City of Creal SpringsCity · IL- Disclosed value
- Annual payment equal to 75% of tax increment revenues for Limit A, 50% for Limits C and D; subject to tax receipts; no fixed total amount stated
- From agreement
- Document date
- Oct 12, 2023
- Renews
- Free account
The 30-second brief
The Coral Springs Community Redevelopment Agency approved the First Amended and Restated Development and Funding Agreement with LA Boca Partners, LLC for the Cornerstone Downtown Coral Springs project. The CRA will provide annual tax increment revenue payments (75% for Limit A, 50% for Limits C and D) as financial incentive, contingent on phased project completion and tax compliance. The agreement supersedes prior contracts and runs until at least December 31, 2031 or CRA sunset.
La Boca Partners LLC holds this construction contract with City of Creal Springs. Its other public contracts on record include work for City of Coral Springs.
The renewal date is on record. A free account shows it, with the renewals for every City of Creal Springs contract.
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Contract details
- Contract type
- Construction
- Amount
- Annual payment equal to 75% of tax increment revenues for Limit A, 50% for Limits C and D; subject to tax receipts; no fixed total amount stated
- Document date
- October 12, 2023
- Term
- Effective date through the later of December 31, 2031 or the official sunset/termination date of the CRA
- Renews
- Free account
- Vendor
- La Boca Partners LLC
- Agency
- City of Creal Springs
- Source document
- coral-springs-agreement-2023-10-12-pdf_c84.pdf (Agreement)
La Boca Partners LLC's other public contracts
More City of Creal Springs contracts
Questions about this contract
Who was awarded the construction contract by City of Creal Springs?
La Boca Partners LLC was awarded this construction contract by City of Creal Springs, as recorded on October 12, 2023. The contract value is Annual payment equal to 75% of tax increment revenues for Limit A, 50% for Limits C and D; subject to tax receipts; no fixed total amount stated.
How much is the La Boca Partners LLC contract with City of Creal Springs worth?
The La Boca Partners LLC contract with City of Creal Springs is valued at Annual payment equal to 75% of tax increment revenues for Limit A, 50% for Limits C and D; subject to tax receipts; no fixed total amount stated, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a agreement record.
Where was this contract approved?
This contract appears in coral-springs-agreement-2023-10-12-pdf_c84.pdf (Agreement), dated October 12, 2023 from City of Creal Springs. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does La Boca Partners LLC hold?
La Boca Partners LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Creal Springs currently buying?
Explore City of Creal Springs's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.