Community Redevelopment Agency Board Meeting of June 2, 2026 packet 2026-06-02

Community Redevelopment Board · 2026-06-02 · packet

[534 Oak Avenue, 541 Oak Avenue, and an unaddressed parcel on Oak Avenue] The Panama City Community Redevelopment Agency (CRA) Board considered and approved the application submitted by Golden Developments, LLC, for the Panama City Tax Increment Rebate Program. The application pertains to properties located at 534 Oak Avenue, 541 Oak Avenue, and an unaddressed parcel on Oak Avenue. The Board authorized the CRA Executive Director to execute a performance agreement. The meeting also addressed the Redevelopment Site Preparation Grant Program and the Amended Commercial Property Improvement (CPI) Grant Program for the Millville CRA District. The Panama City Community Redevelopment Agency (CRA) Board approved the Redevelopment Site Preparation Grant Program, including its guidelines, application, grant agreement, and repayment agreement. Key decisions made during the May 5, 2026 meeting included rewording eligibility for purchase agreements, allowing permit fees as eligible activities, capping awards at 20% of the project budget with a maximum of $100,000 (with exceptions for board consideration), approving a 0% repayable loan option for non-profits doing affordable housing, and establishing that the board will determine funding awards per application for FY2026 and future years. Minimum project budget thresholds were set at $500,000 for commercial projects and $150,000 for residential projects. Demolition and site preparation work must commence within six months, followed by vertical construction within six months, with failure to comply potentially leading to repayment over 24 months. The program is designed to assist with demolition, debris removal, site preparation, and other eligible activities necessary to prepare properties for new development or substantial reinvestment within the Downtown, Downtown North, Millville, and St. Andrews CRA Districts. Eligible applicants include for-profit property owners, developers/purchasers with purchase agreements, and non-profit organizations. All eligible work must be performed by licensed contractors, with a minimum of three competitive written quotes required for work exceeding $3,499. [Millville CRA District] The Panama City Community Redevelopment Agency (CRA) Board approved the amended Commercial Property Improvement (CPI) Grant Program Guidelines for the Millville CRA District for Fiscal Year 2025-2026. The amendment expands eligibility to all eligible commercial properties within the Millville CRA District boundaries, moving away from the previous focus solely on the U.S. 98/E. 5th Street corridor. The program will continue to offer up to ten grants of up to $15,000 each, for a total program allocation of $150,000. Eligible work includes exterior painting, repairs, façade enhancements, windows, doors, signage, awnings, lighting, landscaping, parking lot/sidewalk upgrades, murals, and other visible exterior improvements. The program aims to encourage exterior improvements to commercial buildings to enhance appearance, support property maintenance, reduce blight, and strengthen reinvestment. Grants are awarded on a first-come, first-served basis, subject to funding availability. All contractors must be licensed in Bay County. [724 & 728 Magnolia Avenue] The Panama City Community Redevelopment Agency (CRA) Board approved an amendment to the performance agreement between the CRA and Wilson Avenue Redevelopment, LLC, for a TIF Rebate Incentive on the development of 724 & 728 Magnolia Avenue. The board approved the amendment with a 4-0 vote. [534 Oak Avenue, 541 Oak Avenue, and an unaddressed parcel on Oak Avenue] Golden Developments, LLC, is approved for the Panama City Tax Increment Rebate Program for three properties located at 534 Oak Avenue, 541 Oak Avenue, and an unaddressed parcel on Oak Avenue. The project involves the redevelopment and expansion of an existing approximately 7,500-square-foot pre-engineered metal building (PEMB) into an improved commercial facility. This includes a 2,200-square-foot PEMB addition for retail space, a complete exterior façade redesign, and the development of a laydown yard and covered storage area. The project aims to revitalize a deteriorated building for commercial, retail, and office space. The Executive Director recommended approval, and the City will enter into a Performance Agreement with an award rate of 80%, not to exceed $337,101.78, for a duration not to exceed 15 years. The project is located in the CRA's Downtown North District. The office and commercial areas are expected to be complete by 5/31/2026, with BGN Contractors moving in. The retail space addition is expected to be complete by 12/31/2026. The property at 541 Oak Avenue is retail space with a laydown yard and is complete. The unaddressed parcel work is also complete.