PETOSKEY -- The deadline for significant construction on the Petoskey Point Project is Monday, but it's basically still a hole in the ground. Construction came to a halt when the developer lost financing. The city council is expecting the developer, Lake Street Petoskey associates to be at the council meeting Monday night and give a full project update. Officials say the city will have an option to exit the contract with the developer. The meeting is slated for Monday at 7:30 p.m..