I just got done setting up GPS on Linux for a stratum-1 NTP server. You’d want to run gpsd, which will get the GPS data off of the port and then makes the data available over a socket. gpsd comes with some command line console utilities, and I think one of them is in Python, which may be a good place to start hacking.
You can get a lot from the GPS stream, including satellites in view and things. The data is usually formatted as NMEA 0183, which is a set of text strings of fields consisting of comma-delimited fields. Google it and hopefully you can find a spec, or at least enough examples to get you going.
Sounds like a fun project!!