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CRA approves public notice for sale of 551 East Sixth Street, staff to solicit proposals with development commitments
Summary
Panama City CRA on June 3 authorized publication of a public notice and an RFP-style solicitation for the CRA-owned parcel at 551 East Sixth Street, signaling preference for proposals that align with Downtown North redevelopment goals and include implementation timelines.
The Panama City Community Redevelopment Agency on June 3 authorized staff to publish public notice and solicit proposals for the sale of CRA-owned parcel 551 East Sixth Street (parcel 20387-000-00) in the Downtown North District.
Staff recommended the notice be issued as a request for proposals that asks prospective buyers to describe intended use and how their proposals further CRA redevelopment objectives. "So that we're not just selling it to sell it, but we're selling it for economic development purpose," a staff presenter said, and explained proposals may include terms requiring implementation within a set period and a city right to reacquire the property if development commitments are not met.
Board members discussed design incentives and how to avoid speculative purchases that leave property idle. One board member suggested setting a two-year implementation deadline and allowing the city to reacquire the parcel for the original purchase price if the buyer fails to begin the project.
The motion to approve issuance of the public notice passed on a roll-call vote with Board member Hughes, Board member Lucas, Board member Bridal Granger and Chairman Pat Branch voting yes. Staff said they will circulate the draft notice to board members before posting and include evaluation criteria that weigh alignment with CRA goals and the proposer’s implementation timeline.
No sale was completed at the meeting; staff will return with proposals and recommended agreements for board review.
