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CRA board approves sale of 551 E. Sixth St. to adjacent owner with development conditions
Summary
Panama City CRA voted 3-2 to sell a vacant CRA-owned parcel at 551 East Sixth Street to the adjacent owner for the appraised price of $72,000, with a deed restriction requiring a development order application within two years, construction to begin before the development order expires, and a reverter clause if the buyer fails to comply.
The Panama City Community Redevelopment Agency (CRA) board voted 3-2 to approve the sale of CRA-owned property at 551 East Sixth Street to the adjacent property owner for $72,000, accepting an addendum that requires the buyer to apply for a development order within two years and to commence construction before that order expires.
The motion to accept the revised offer came after more than an hour of debate over whether to accept a lower-priced, restricted sale or hold out for full appraised value. The buyer originally offered $42,500; later in the meeting the buyer, through attorney Deedee Rowan, offered the appraised amount of $72,000 and agreed to the board’s development restrictions. “I am prepared today ... to present to you a full price offer of $73,000, and still, in a show of good faith, offer some of those ... restrictions,” said Deedee Rowan, attorney for the adjacent owner. Rowan confirmed the buyer would accept the contract language with the revised price and a closing timeline to be finalized.
Board members pressed competing priorities: some urged immediate sale to catalyze private investment, while others sought more time to align future land sales with the CRA’s Dover-Cole plan and neighborhood visioning. Board member Josh Street argued that “this is a vacant lot and we can't get out of our own way to sell a vacant lot,” saying a sale would place the property back on the tax rolls. Board member Hughes and others warned that selling without stricter controls risks losing opportunities to shape corridor redevelopment.
Under the addendum approved by the board the property remains zoned Neighborhood General in the Gateway Overlay District; the buyer agreed not to request rezoning. Improvements must result in a structure of no less than 1,500 square feet and may include uses allowed under Neighborhood General zoning, subject to specific exclusions. The deed will include a reverter mechanism if the buyer fails to obtain a development order within two years or fails to commence construction before the development order expires. The board recorded the roll call: Hughes, Lucas and Granger voted yes; Street and Chairman Branch voted no. Motion passed 3 to 2.
The board discussed whether accepting full appraised price without the reverter would set an unwanted precedent for future unsolicited offers. Several members said they preferred a one-off compromise: accept the higher price while keeping development conditions that seek to prevent immediate resale or parking-only use. The board also noted the RFP process earlier that produced only the adjacent owner’s proposal and confirmed the sale followed public-notice procedures required of CRA property disposals.
The buyer’s attorney and staff indicated the closing date will be set once title work is completed; staff said the deed will include the reverter clause and related enforcement language. The board directed staff to finalize the contract and proceed to closing under the approved terms.
Votes at a glance: Motion to accept the revised, full-appraisal offer with addendum: passed 3–2 (Yes: Hughes, Lucas, Granger; No: Street, Branch). The contract price recorded in the addendum is $72,000 based on the April 14, 2025 appraisal.
