Punta Gorda City Council denies extension to Fishermen’s Village receiver

Author: Nancy Semon, Gulfshore Business
Published: Updated:
Credit: Fishermen’s Village

At a May 15 meeting, Punta Gorda City Council unanimously denied the request of Fishermen’s Village representatives to extend the deadline to market and sell the property. 

The request was for an extension to November 2026, but the amended acquisition expires Aug. 22, 2024. 

Written into the amended acquisition agreement between property owner Jonathan Larmore, who defaulted on the mortgage, and the city is a clause in which Punta Gorda could take steps to have the property transferred back to the city if planned improvements were not completed by the deadline. 

A reverter clause refers to the right of the grantor to possess property in the future if a certain condition isn’t met. 

To read more at Gulfshore Business, click here. 

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