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CRA finalizes TIF rebate guidelines; approves 90% TIF award for 436 Harrison Ave. redevelopment
Summary
Panama City CRA approved the finalized tax increment financing rebate program guidelines and authorized a contingency approval of a 90% TIF rebate for 436 Harrison LLC not to exceed $1,163,665.56 over 15 years, contingent on upcoming ordinance adoption.
The Panama City Community Redevelopment Agency board on Jan. 27 approved the finalized tax increment financing (TIF) rebate program guidelines and unanimously recommended approval of a TIF rebate application for 436 Harrison Ave., contingent on the commission adopting Ordinance 32‑59.
Staff told the board the TIF rebate program materials and performance agreement template were posted to the CRA website by the board’s requested deadline. The CRA’s executive director reported that 436 Harrison LLC, represented by Steven Counts, applied under the program for a redevelopment project that includes affordable housing, mixed use elements and infrastructure…
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