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CRA board authorizes purchase of 704 E. 15th St. for $175,000; site in state cleanup program
Summary
The CRA board approved purchase of a vacant commercially zoned parcel at 704 East 15th Street for $175,000. A Phase I environmental assessment found a historic petroleum release; the site is enrolled in the Florida DEP state-funded early detection and cleanup program, which will handle remediation monitoring and assessment.
The Panama City CRA board authorized staff April 7 to finalize purchase of a vacant commercial parcel at 704 East 15th Street for $175,000 using Downtown North CRA funds.
Staff said an appraisal from Sept. 9, 2025, valued the site at $250,000 and the owner agreed to a reduced sale price of $175,000. A phase I environmental site assessment identified a historic petroleum release from a former gas station. Staff reported the property is enrolled in the Florida Department of Environmental Protection state-funded early detection incentive cleanup program; DEP confirmed the site's participation and that state resources will handle assessment and remediation monitoring provided the department is notified of redevelopment plans.
The city commission had previously approved the purchase and directed staff to present a CRA request to use downtown North funds. During the board's discussion members noted that past petroleum release history may limit the highest-and-best use and said staff will hold a community workshop before finalizing redevelopment plans, including potential use for additional parking at the nearby MLK Junior Recreation Center.
The board approved the staff recommendation by roll-call vote; all board members voted in favor.
