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CRA approves sale of 551 E. Sixth St. to adjacent owner with three-year development agreement
Summary
The CRA agreed to sell a 0.41-acre CRA-owned parcel at 551 East Sixth Street to adjacent property owner BNS Liquors for $42,500, contingent on a development agreement requiring completion within three years and including a 180-day due-diligence period.
The Panama City CRA on July 29 approved the sale of CRA-owned land at 551 East Sixth Street (Parcel ID 20387-00000) to BNS Liquors Inc. for $42,500, contingent on the execution of a development agreement requiring the purchaser to complete development within three years.
The vacant 18,034-square-foot parcel had been donated to the CRA in 2025 and attracted one proposal in response to an RFP: an adjacent owner, BNS Liquors, offering $42,500. CRA staff obtained two appraisals during the…
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