Coral Gables, our beloved city with its rich heritage and vibrant community, is currently grappling with allegations of potential corrupt ties involving our Mayor, Vince Lago. A recent report by Miami Herald reporter, Tess Riski, has shed light on Lago’s business dealings with developer Rishi Kapoor, raising concerns about conflicts of interest and how these relationships could impact the decisions made regarding Kapoor’s development projects.
Ties to Developer Rishi Kapoor
The controversy surrounding Mayor Lago revolves around his close connections with developer Rishi Kapoor. These personal connections raise legitimate questions about the fairness and impartiality of Lago’s decisions when it comes to Kapoor’s developments.
Financial Relationships and Political Connections
Financial relationships and political connections between Lago, Kapoor, and Miami Mayor Francis Suarez have emerged. Kapoor hired Suarez as a consultant, paying him a hefty monthly fee of $10,000. In addition, Lago’s real estate license is registered with Rosa Commercial Real Estate, a brokerage that facilitated the sale of Kapoor’s property. It’s worth noting that this brokerage has ties to Hialeah Mayor Esteban “Steve” Bovo, creating a complex network of relationships within local politics.
Campaign Donations and Financial Disclosure
The issue of campaign donations has also come to the forefront, with Kapoor making contributions to Lago’s election campaign. Furthermore, Lago’s political action committee received a donation from Location Ventures during his reelection campaign. While campaign contributions are a common occurrence in politics, they raise legitimate concerns about the influence of developers on the decision-making processes of our elected officials.
Lago initially failed to disclose his ownership of a retail building at 1424 Ponce and a vacant lot, of which Kapoor began renting. Only after Herald reporter Riski began to question did Lago finally update his financial disclosure form to reveal his 40% stake in the owning corporations. This raises eyebrows and questions about transparency, leaving us wondering whether Lago deliberately attempted to conceal his financial interests.
City Commission Approval and Pending Construction
Kapoor’s 1505 Ponce project received approval from the City Commission, with Lago abstaining from the vote. However, many critics argue that abstaining may not be enough to dispel concerns of conflicts of interest, especially considering Lago’s deep connections with Kapoor. Although the sale of the property closed in November, construction has yet to begin.
Claims of Innocence
Despite mounting evidence and allegations, all parties involved, including Lago, Suarez, and Kapoor, adamantly deny any impropriety or conflicts of interest. They maintain that their relationships are purely professional and have no bearing on their ethical obligations or the best interests of our community.
Lago’s Lack of Transparency
The potential corrupt ties involving Coral Gables Mayor Vince Lago and developer Rishi Kapoor have raised genuine concerns among our community and legal experts. While those involved continue to deny any wrongdoing, the interconnected relationships and financial transactions cast a shadow of doubt over the decision-making processes involving Kapoor’s projects. If you watch any Coral Commission Meeting, you will notice Lago loves using the term “transparency.” What exactly is Lago’s definition of transparancy? This is not the first time Lago has been questionable in the “transparancy” department. If you remember, in March we reported on Lago possibly committing perjury regarding his lobbyist brother and the annexation of Little Gables. With all of these apparent ethics violations, it seems like Miami-Dade’s Commission on Ethics and Public Trust may consider renting out Mayor Lago’s storefront office to cut commute time.
The corrupt will do what the corrupt will do.
Who didn’t think Lago was in the pay to play game??
He needs to step down. All he is doing is casting a black cloud over Coral Gables