LABELLE, FL. -- Lafferty Development, LLC., a newly created company operated
by Michael John Lafferty of Naples took over the Port LaBelle Inn December 1
from Richard and Mary "Dottie" Siebel with reportedly new plans to expand
the 50-room operaton which now sits on 5.4 acres east of the city of
LaBelle. The purchase also included some acreage zoned agricultural/leisure
that was formerly part of the Port LaBelle golf course. Surrounding
property owners are attempting to rezone the former golf course to allow
high density development including condos and apartments.
Lafferty bought the property under various partnership arrangements
including Port LaBelle Resorts, LLC and MJL Main Properties, an Arizona
company. Lafferty also created Fl East 31, LLC, another limited liability
corporation the same day last month as Lafferty Development, and formed No
Paltalones W Division, LLC with Ft. Myers partner Samir Cabrera in October.
The $4 million hotel and land deal included a $3 million mortgage back to
the Siebert's partnership, J and D of LaBelle LPC along with a 34-page
security agreement covering all the collateral pledged including the hotel's
furnishings. Siebel also operates two recreational vehicle parks in LaBelle.
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