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Commission selects FEMA funding option that leaves $5M for marina work; directs PFM review and public charrettes for proposed uplands
Summary
After extended discussion and public comment, the Panama City Commission chose the FEMA funding option that would free about $5 million for the downtown Panama City Marina project, and directed staff to hire financial advisor PFM to analyze slips and uplands and to schedule public charrettes.
Following lengthy public comment and staff briefings, the Panama City Commission on Sept. 23 voted to pursue a FEMA funding option that officials said would likely make approximately $5 million available for the downtown Panama City Marina project and related priorities.
Background and the FEMA change
City staff told the commission that FEMA recently approved a revised cost estimate and obligated an additional $8.9 million for PW 2202 (the downtown marina project), increasing the total FEMA obligation for that project to $22,460,000 (up from an earlier total reported in staff materials). City staff and the independent consultant Integrity Group presented three funding options for how to use the increase to reduce the city’s share of reconstruction costs and to preserve funding for the Martin Theater rebuild.
After discussion the commission voted to select option 2, described in staff materials as the approach that preserves funding for the Martin Theater while…
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