Commission authorizes negotiations with Virtuous Cycle LLC for 447 Harrison breezeway RFP

The Panama City Commission on May 13 authorized city staff to enter contract negotiations with Virtuous Cycle LLC for redevelopment of the Breezeway property at 447 Harrison Avenue, following a unanimous recommendation by an evaluation committee.

The request followed issuance of Request for Proposals PC25-018 on March 4; two proposals were received and a committee evaluated submissions against established criteria. City staff said one respondent, Virtuous Cycle LLC, received the committee’s unanimous recommendation to proceed into negotiation.

Representatives for Virtuous Cycle LLC described a preliminary design that preserves the breezeway access, provides ADA access and proposes mixed public and commercial uses; staff and proponents said the submission anticipates community collaboration, design refinement and potential use of financing tools such as tax-increment financing. The authorization approved May 13 permits staff to negotiate terms; any final sale or redevelopment agreement would return to the commission for review and formal approval.

Ending: Commissioners praised the proposal and the potential for downtown infill and directed staff to proceed with negotiations and keep the commission apprised of material terms prior to bringing a final agreement for approval.

sections:{"lede":"The Panama City Commission on May 13 authorized staff to negotiate with Virtuous Cycle LLC on a redevelopment proposal for the breezeway property at 447 Harrison Avenue.","nut_graf":"An evaluation committee unanimously recommended Virtuous Cycle LLC after two proposals were received; authorization only approves negotiation, and any final contract will return to the commission for approval.","ending":"Commissioners expressed support for the concept and asked staff to return with negotiated terms for final approval."}