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Punta Gorda could take back two parcels of Fishermen's Village property

Development requirements were not met by the previous owner
Posted at 8:40 PM, May 21, 2024

PUNTA GORDA, Fla. — The City of Punta Gorda could soon take back ownership of two parcels of land at Fishermen’s Village after the property owner failed to meet development deadlines.

On May 15, City Council unanimously voted down a motion from the property’s receivers PGFL Associates and SVN Commercial Partners to extend an Aug. 22 deadline to improve two parcels of land used for parking on the property.

FV parking lot
Fishermen's Village parking lot.

“The extension we asked for was to give us the time to work out a plan that would have some sort of development with the parking lot and that parcel,” said Ashley Bloom, managing partner of SVN Commercial Partners.

An amendment made in 2018 to the acquisition agreement stated that the former owner of Fishermen’s Village, Jon Larmore, needed to make improvements to the parcels by the deadline or the city could take back ownership of the parcels through a reverter clause.

“The ability to meet those requirements in terms of permitting, planning, and construction are practically impossible,” said Bloom.

Fishermen’s Village has been managed in receivership since Oct. 2023, after Larmore defaulted on the property.

Despite the potential for the city to exercise the reverter clause, assistant city manager Melissa Reichert told Fox 4 there would be no changes for anyone going to Fishermen’s Village.

“The impact to people visiting Fishermen’s Village, they wouldn’t see one at this time,” said Reichert. “No changes. Still come out to enjoy the food, the shopping and fun of Punta Gorda.”