PANAMA CITY — City officials are casting a broad net in hopes of drawing in a variety of private interest in the Marina Redevelopment Project.
Panama City commissioners unanimously agreed on language Tuesday seeking partnerships with private developers from across the country to help with marina plans. The city is expecting complete proposals from developers, with serious capital backing within 60 days to gather an idea of the amount of interest by July.
“If they are going to focus on this, we want them to focus on it the way we do and get it done,” said Mayor Greg Brudnicki.
The request commissioners agreed on does not limit the contribution of public funds — in the form of loans or bonds, tax increment financing incentives from the Community Redevelopment Agency (CRA) or the possible “bed tax” revenue currently being considered in the city — which could be used to assist with developments.
