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Frank Menke alleges Fifth Thirrd wrongly stopped fundinga $30.5 million construction loan for the U.S. 41 projectr in Sarasota County’s North according to a documenrt filed April 2 withthe , Middlre District of Florida. North Port Gatewat filed a Chapter 11 petitionMarch 30. Menks is unable to completer construction ofthe project’d second two buildings despite the success of the first 37,476-square-foot Sumter Crossing East and 24,000-square-foot Sumterd Crossing Commerce, since funding was he alleges in court records. Projecft anchors include , , , Regionsd Bank, Applebee’s and Charlottes State Bank. All the businesses bought theirf properties from NorthPort Gateway.
The dispute with Fifthb Third has hindered the developef in completing more land sales in the amountof $10.8 records show.
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