Port Authority faces foreclosure hearing next month

Published: Thursday, February 21, 2013 at 11:40 AM.

A trial would likely be months away.

The Port Authority will also argue for a summary judgment, contending that entering into a mortgage for public land without a voter referendum was not a proper use of its power by the Port Authority, Gibson said.

He added that the odds of such an argument carrying the day were not high.

While that legal battle is waged, the Port Authority is moving ahead on an update of the Port of Port St. Joe master plan.

Port director Tommy Pitts said he was waiting on market analysis from the St. Joe Company and the Bank of Montreal, engaged by the St. Joe Company to market the port worldwide, and that the master plan update should be completed in the summer.

The master plan, the update of which is being funded by a grant from the Florida Department of Economic Opportunity, is critical has it provides the foundation for future growth in the port planning area and provides a template under which the port may apply for federal and state grant funding for development.

The port also received good news last week regarding rail access.

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