3. Interlocal Agreement – Westside Redevelopment Revenue Bond, Series 2017. On August

Community Redevelopment Agency Meeting · 2026-05-11 · agenda_item

This item concerns an interlocal agreement related to the Westside Redevelopment Revenue Bond, Series 2017. The agreement outlines how the Community Redevelopment Agency will repay the City of Pensacola for any advances made to cover insufficient tax increment revenues for the bond's principal and interest. This repayment obligation is subordinate to the Agency's primary duty to pay the 2017 Westside Bond and any future additional obligations. The agreement is currently under review by the Community Redevelopment Agency. This process involves legal and financial review, with potential future actions related to bond payments and agency obligations. Local businesses involved in legal services, financial consulting, and government contracting may find opportunities related to the administration and potential future financial transactions stemming from this agreement.