Article Courtesy of The Boca
Raton News
By Dale M. King
Published May 12, 2007
The Florida Attorney General’s Office,
Economic Crimes division, has subpoenaed records from Boca East LLC and
Ceebraid-Signal Corp., developers of the trouble-plagued Eden condominiums
in Boca Raton.
Sandi Copes, spokeswoman for the Attorney
General’s Office, confirmed that the subpoenas were sent, but she said
she could not disclose the nature of the investigation.
The documents require the firms to provide
copies of advertisements, offering statements, prospectus statements,
applications and other documents relating to the “financing or
financings that you have received or otherwise obtained from lenders
and/or any third parties for your development project or projects known as
Eden condominium No. 1 or Eden condominium No. 2.”
The AG wants records from Jan. 1, 2004 to
the present. The subpoenas say the documents are to be presented to
an assistant attorney general by 10 a.m. on May 28.
Several people contacted at Boca East LLC
by the Boca Raton News said they were not aware if the subpoenas had been
received. They referred inquiries to project manager Adam
Schlesinger, who did not return messages.
The Eden condominiums – originally conceived as a luxury complex – is
not even close to completion. One building is done, another is close to
being finished and two others are basically concrete skeletons.
The developer of the project that’s been
under construction since 2002 recently submitted a new plan – for 248
independent living units, said attorney Charles Siemon, one of the lawyers
for the project.
He told the Boca Raton News the 248 multi-family units are age-restricted,
and there will be no assisted-living units.
A preliminary plan submitted in December called for 86 assisted-living
units and 193 independent-living units for the Eden
Eden has had a checkered past. Three
times, the city has extended permits because work was not done. But
the last time the extension was issued, in September 2007, the City
Council said it would be the last.
About that same time, developers of Eden said they planned to partner with
Parc Communities to bring in the independent and assisted living units.
The assisted living segment has now been eliminated.
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