Port foreclosure hearing rescheduled

Published: Thursday, October 24, 2013 at 10:30 AM.

Circuit Court Judge John Fishel has scheduled a January hearing for further presentations in a foreclosure case brought against the Port of Port St. Joe.

Capital City Bank is attempting to foreclose on a port parcel that serves as the barge terminal off the Intracoastal Waterway that was secured with a loan of over $4 million.

Due to a lack of revenue or tenants to drive revenue, the Port Authority has been unable to make payments on the loan for at least two years.

Frankel, who just rotated into Gulf County in August, was surprised to have such a complex and important case fall into his lap with just a 30-minute hearing last month, said port attorney Tom Gibson and stated a desire for a second hearing for additional presentations on the issues.

The hearing is set for 1:30 p.m. ET Jan. 23.

Each side is seeking summary judgment.

Capital City Bank is arguing the mortgage is enforceable and asking the foreclosure be granted.

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