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CRA outlines $3.5M Millville bond scope; waterfront park and potential bayou dredging discussed
Summary
The Panama City CRA is developing scope and financing options for a $3.5 million bond to fund Millville infrastructure and park projects, including a pedestrian path, bike safety village and parking; board members also asked staff to explore dredging Watson Bayou as part of broader efforts.
CRA staff told the board May 6 they are developing scope, cost estimates and financing options for a proposed $3.5 million Millville bond planned for fiscal year 2026. The staff packet lists $26,425 in current expenditures and a proposed scope that includes an 8-foot pedestrian path on Third Street, a bike safety village and parking, with geotechnical and survey work underway.
Why it matters: the bond would be financed with CRA tax increment (TIF) revenue rather than general-obligation taxpayer debt, and would fund infrastructure projects planned for Millville and the adjacent waterfront park.
Project details: staff said Southern Earth is conducting a geotechnical study and Dewberry completed the site survey, with results expected by May 8. The Millville Waterfront Park project — a related, larger effort with a $1.5 million budget — is underway: the amphitheater is under construction, restrooms are permitted and planned after the amphitheater completes, an interactive learning path is to be sponsored by United Way, and parking and a bike safety village are being designed by the city engineer.
Financing and authority: Jan Smith, city clerk treasurer, provided a pro forma outlining financing options for a $3.5 million bond over 10- and 20-year terms. City Attorney Nevan Zimmerman told the board the bond would be a pledge of TIF revenues and “it is not required to go to a referendum,” meaning the board has authority to approve TIF-backed debt rather than placing it on a public ballot.
Dredging discussion: Board member Lucas requested staff examine whether dredging Watson Bayou could be included in the bond’s scope. Staff and commissioners noted dredging is complex, typically requires Army Corps of Engineers permitting, and that local agencies have in the past used county dredge assets or interlocal agreements; staff said they would reach out to county and neighboring municipalities to explore options.
Next steps: staff aims to finalize cost estimates and a project charter by June or July, and return to the CRA with a recommended scope, budget and financing plan. No bond resolution or formal financing decision was made at the May 6 meeting.
