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Panama City CRA approves public notice, negotiation authority to sell 1342 MLK Blvd
Summary
The CRA board authorized public notice and staff negotiation authority Sept. 2 for sale of a CRA-owned parcel at 1342 MLK Boulevard; the parcel was appraised at $61,000 and staff will return with a negotiated contract for final board approval.
The Panama City Community Redevelopment Agency board on Sept. 2 authorized staff to publish public notice and to negotiate a sale contract for CRA‑owned property at 1342 MLK Boulevard in the Downtown North district.
Staff told the board the CRA purchased the parcel in 2016 for $200,000, demolished the former motel and now holds a vacant lot of approximately 7,800 square feet (just under 0.2 acres). To assist with valuation, the CRA obtained an independent appraisal from Giles Appraisal Group dated July 23, 2025, valuing the property at $61,000. Staff recommended public notice for sale to spur redevelopment and generate district revenue.
During deliberation board members discussed establishing a consistent process for selling CRA land, handling unsolicited offers and whether to require minimum development or timeframes. Board members emphasized fairness in marketing and the utility of appraisals when an unsolicited offer arises.
The motion before the board authorized staff to publish the required public notice and, if only one responsive proposal is received, to negotiate a sale contract and return to the board for final approval. The board approved the action by roll call (Granger, Street, Hughes, Lucas and Chairman Alan Branch voting yes).
Staff said any final purchase agreement would return to the board, and the board asked staff to bring a standardized framework for future property dispositions so each parcel follows consistent public‑offer procedures.
