Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Panama City CRA outlines $3.5 million Millville bond plan to be backed by TIF revenues; dredging and infrastructure among potential uses
Summary
The Panama City Community Redevelopment Agency on Tuesday reviewed planning work for a proposed $3.5 million bond for Millville infrastructure, to be repaid from tax increment financing (TIF) revenues.
The Panama City Community Redevelopment Agency on Tuesday reviewed planning work for a proposed $3.5 million bond to fund Millville infrastructure improvements, including pedestrian paths, parking and a bike-safety village.
Staff presented a draft scope and financing options and said the bond would be backed by tax increment financing (TIF) revenues rather than general-tax pledges; the city clerk/treasurer provided a pro forma showing 10- and 20-year financing scenarios. City staff told the board the bond would not require a public referendum and that the pledge would be against TIF increment.
Why it matters: The bond would direct CRA…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
