The Panama City Community Redevelopment Agency on July 29 approved two applications to the tax increment rebate program for downtown redevelopment projects and authorized staff to execute performance agreements.

Staff recommended and the board approved an 80% award rate for the Wilson Avenue Redevelopment LLC project at 724 and 728 Magnolia Avenue, with a total award not to exceed $135,676.08 and an award duration not to exceed 15 years. Staff said the recommendation followed its review under the program guidelines.

The board also approved a separate request from Vittles Incorporated for redevelopment at 542 Harrison Avenue, again at an 80% award rate not to exceed $161,677.13 and a maximum 15‑year duration. Both motions passed by voice roll call, 3‑0.

Staff noted each award reflects the program’s commercial use criteria and an evaluation of eligible project costs and amenities. The board voted to authorize the city to enter into performance agreements implementing the awards.