A taxpayer advocacy group in Irving, Texas, represented by the lawyer for legendary honkytonk developer Billy Bob Barnett, is attempting to block the Charlotte-area developer of the Toyota Music Factory from receiving $44 million in public money.
A lawsuit filed Wednesday in Dallas County District Court by prominent attorney Larry Friedman alleges fraud and suggests that the Ark Group cut corners during construction of the Texas entertainment center to gain certificates of occupancy by certain deadlines. Based in Cornelius, Ark Group also owns and developed the popular Charlotte complex of concert halls, bars and restaurants just outside of uptown that is now called the AvidXchange Music Factory.
Under a 2015 incentives agreement with the city of Irving, Ark Group had to meet the deadlines for the Music Factory there in order to be reimbursed for $44 million in upfront costs, the lawsuit states.
Barnett opened then abruptly shut five venues flanking a central plaza in Toyota Music Factory. He claimed the $200 million, city-owned entertainment district has fewer than the required number of parking spaces and that its plaza is smaller than the stated 50,000 square feet and is uncovered.
The lawsuit, filed by Friedman on behalf of nonprofit Irving Taxpayers Matter, makes those same claims and more.
Noah Lazes, president of the Ark Group, says the company “adamantly” denies the allegations.
Read the full story here: http://bizj.us/1pmgrq
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