-1. I've personally been involved in a similarly-structured deal between two non-jewish arms-length parties.
Again, I know nothing about this case other than what's been posted here, and I'm not disputing the fact that lots of other issues here seem to point to wrongdoing, but the deal structure itself isn't necessarily problematic if the pricing on both sides makes sense.
Everyone understands contribution to investments in arms-length transactions.
The takeover of the board of the shul with questionable tactics by strawmen for the developer is what makes this so egregious.
We had another instance where a developer came into Boro Park requesting a zoning change on a property near a yeshiva that would have changed the character of the neighborhood due to its sheer size. Local Rabbonim were against it. I remember a representative on the community board voting against it at the request of some very chasuve rabbonim. But as with all of theses types of situations, the politicians were paid off in campaign donations and the project was approved.
One of the agreements was that they would provide 1.5 parking spaces per apartment for the nearly 170 apartments they were building. They installed ~60 car lifts that could park cars vertically in the garage knowing full well that the ceiling height was not sufficient to allow for parking any more than the lower portion of the lift. The kicker was that as part of the zoning resolution that authorized the change the only people who could complain legally about any overbuilding or improper building on the property was an organization from...Williamsburg...which was, as expected, controlled by the developer.
The project has been built and has been a boon to the neighborhood. However, as a practical matter, the underhanded nature of the entire process left a bad taste in many peoples mouths. Thankfully parking hasnt been the issue. Shoddy construction has been. The facade started shedding pieces as soon as people moved in. And now there is talk of them selling off a piece of undeveloped vacant land for an office building that was never part of the original disclosed project.