Port foreclosure hearing this week

Published: Thursday, July 18, 2013 at 10:21 AM.

A circuit court hearing on foreclosure proceedings against the Port of Port St. Joe by Capital City Bank was scheduled to be held Wednesday.

The hearing was scheduled after this newspaper went to print (go to www.starfl.com for any updates) but Port Authority attorney Tom Gibson has indicated he would be surprised if Circuit Court Judge Shonna Gay Young makes an immediate decision on the competing motions for summary judgment.

With both sides seeking summary judgment, there are no legal facts in dispute, Gibson said.

The bank is seeking foreclosure on a mortgage of more than $4 million on land that the Port Authority transformed into a barge terminal bulkhead with uplands site.

The so-called Parcel B sits below the Tapper Bridge across the Intracoastal Waterway from the old Arizona Chemical site.

The Port Authority has not made payments on the principal for several years.

The Port Authority is countering with a motion for summary judgment based the contention that the Port Authority was prohibited by law from mortgaging public property in the first place without a public referendum.



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