Panama City CRA outlines $3.5 million Millville bond plan to be backed by TIF revenues; dredging and infrastructure among potential uses

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 resources toward Millville-area infrastructure and public amenities. Residents and board members raised the possibility of adding dredging of Watson Bayou to the project list; dredging would require federal permits and coordination with other local governments.

Key facts and timeline: CRA staff said the project budgeting is ongoing. The pro forma for a $3.5 million bond has been prepared; current CRA expenditures on the project line total $26,425. Southern Earth is conducting a geotechnical study and Dewberry Engineering completed a site survey, with results expected by May 8. Staff aims to finalize cost estimates by the June–July board meetings.

Dredging discussion: Board members raised Watson Bayou, describing sections north of U.S. 98 that have become non-navigable. Staff noted prior use of the county dredge and that Mexico Beach owns a smaller dredge; the county is pursuing larger beach-renourishment equipment. Board members suggested cooperative approaches with Bay County and neighboring municipalities. Staff cautioned that dredging would involve the U.S. Army Corps of Engineers and additional permitting.

Questions about voter approval: A resident asked whether the bond would go to a public vote. City staff said the board has authority to issue TIF-backed bonds and that a referendum is not required; the bond would be a financing mechanism secured by increment revenues rather than a general-tax bond.

Decisions and next steps: The board did not vote to issue bonds at this meeting. Staff will continue to develop scope, collect geotechnical and cost estimates, finalize the bond pro forma, and return updates at upcoming CRA meetings. If dredging is to be included, staff said it will pursue intergovernmental options and federal permitting as needed.

Ending note: The bond-planning process remains at the scoping and cost-estimate stage; the CRA emphasized further study and community input before any financing decision is made.