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Panama City staff seek feedback on proposed transfer of 447 Harrison breezeway; developer to invest $500,000
Summary
City staff presented a draft proposal to transfer the downtown property at 447 Harrison to a developer for a nominal fee while retaining an 8-foot public pedestrian easement. Commissioners debated building value, taxes, long-term maintenance and whether restrooms in the breezeway should be publicly accessible.
City staff brought a draft proposal to the Panama City Community Redevelopment Agency DRE workshop asking commissioners for feedback on a possible fee-simple transfer of 447 Harrison to a private developer while keeping an 8-foot permanent public pedestrian easement.
Jonathan (title not specified in the transcript), speaking for staff, said the developer — identified in earlier materials as Virtuous Cycle — proposed a nominal purchase price (a draft figure discussed was $100) and would commit a minimum of $500,000 in private capital for build-out and activation. “The developer is committed to investing a minimum of $500,000 in private capital commitment in construction build out and activation,” Jonathan said. Staff confirmed its expected ongoing city role would be security and maintenance for the easement, and that the CRA would not fund building construction.
Why it matters: the property sits between a downtown parking area and Harrison Avenue and staff and commissioners…
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