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CRA tables sale of 551 E. Sixth St. after questions on restrictions, development timeline
Summary
Staff recommended sale of 551 East Sixth Street to adjacent owner for $42,500 with restrictions and a development timeline; after extensive discussion about required uses, minimum building size and process, the board withdrew its motion and voted to table the matter to Oct. 7 to allow staff and buyer to negotiate non‑blank contract terms.
The Panama City CRA board considered a proposed sale Sept. 2 of CRA‑owned property at 551 East Sixth Street in the Downtown North district. Staff reported the property—an 18,034‑square‑foot vacant parcel acquired by donation in 2015—received one proposal in response to a prior RFP from an adjacent property owner (BNS Liquors) for $42,500.
Staff’s recommended purchase agreement included development restrictions, a requirement that the…
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