City staff has drafted an outline regarding internal scrutiny of contracts with NMS Properties, after the company’s CEO, Neil Shekhter, was found to have forged documents in a Los Angeles Superior Court Case. The contract review will focus on affordable housing requirements, development agreements, settlement agreements and future deals with Santa Monica’s biggest developer, according to an outline of the review obtained by the Daily Press. It’s estimated Shekhter controls as many as 2,000 apartments on the west side of Los Angeles.
Read More: http://smdp.com/city-outlines-probe-of-contracts-with-nms-properties-inc/159868