A
Dallas real estate developer, Sherman Roberts, has pleaded guilty to bribing two city officials in exchange for support of his affordable housing projects. According to court documents, Roberts paid thousands of dollars in cash and promised future payments to Mayor Pro Tem Dwaine Caraway and city council member Carolyn Davis in 2015. In return, they supported loans and low-income housing tax credits for Roberts' projects, including Serenity Place and Patriot's Crossing.
Documents show that Davis promoted Serenity Place to the City Housing Committee, recommended a 9% low-income housing tax credit, and voted to approve a $1.9 million loan from the City of Dallas. Caraway was paid cash and a monthly stipend to deliver Roberts' project, Patriot's Crossing, without seeking other bids.
Roberts faces up to five years in federal prison for conspiracy to commit bribery. He is scheduled to be sentenced on March 12, 2025. This case is part of a larger scandal involving three real estate developers charged with bribery and conspiracy. Former city officials Caraway and Davis have previously pleaded guilty to related charges, with Caraway serving time in prison before being released in 2022.
realestate
Dallas Developer Admits to Paying City Council Bribes
Dallas real estate developer pleads guilty to bribery of city officials.
Read More - realestate
realestate
Brown & Riding Names New Real Estate Practice Head
Veteran leader with industry expertise and regional insight
Read More - realestate
realestate
LA's affluent neighborhoods face gentrification threat from investors
Fires may exacerbate LA's affordability crisis, pricing out low-income residents and making the area exclusive to the wealthy.
Read More
realestate
California Hotel Development Hits Roadblock Across Bay Area and State
Hotel development in Bay Area, California stalls with 75% drop in new openings.