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Commission accepts unsolicited $280,000 offer for city lot at 1309 Chestnut Avenue
Summary
The commission approved an unsolicited $280,000 purchase offer for a city‑owned parcel at 1309 Chestnut Avenue, a parcel the agenda showed is also part of an open auction; staff said the buyer offered to reduce the auctioneer’s buyer premium from 10% to 7%.
The Panama City Commission on May 27 approved an unsolicited offer from a private buyer to purchase the city‑owned parcel at 1309 Chestnut Avenue for $280,000, staff said. The vote was 5-0.
Assistant city staff told the commission the parcel (0.45 acres) is one of three adjacent lots the city had placed for open auction with a June 4 deadline; the auctioneer estimated the…
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