Published: Oct 24, 2012 10:29 AM EDT
Updated: Oct 24, 2012 10:35 AM EDT

CHARLOTTE COUNTY, Fla. - Residents and at least one Charlotte County commissioner are up in arms over a 10-year-old land deal that seems to be going nowhere.

The track of land, dubbed Murdock Village, was purchased nearly 10 years ago with the plan to develop a multi-use community with residential, business and recreation all in one spot. But developers have dropped out of the project and some feel the roughly $5 thousand a day interest on the $100 million loan is draining the county.

One developer, who has a stake in the community, says he is ready to procede as soon as county officials pull the proper permits.