During a May 15 meeting, the Punta Gorda City Council unanimously rejected Fishermen’s Village representatives’ plea for an extension to market and sell the property. The request aimed for an extension until November 2026, while the amended acquisition’s deadline is August 22, 2024. Embedded in the amended acquisition agreement between the property owner Jonathan Larmore and the city is a provision allowing Punta Gorda to reclaim the property if planned improvements weren’t completed by the deadline, known as a reverter clause. Larmore, CEO of Arciterra Companies LLC, encountered financial and legal troubles, including bankruptcy filings and legal charges, leading to the property being put in receivership. The receiver, represented by attorney A. Jill McCrory, has initiated the property’s sale process. Despite arguments citing unforeseen circumstances like the pandemic and supply chain disruptions, council members attributed the delay to Larmore’s actions. They expressed intent to enforce the reverter clause and regain control of the property. Discussions hinted at the receiver purchasing the reverted properties. The deadline for further discussions with the city manager was set for August 22.