Panama City

Community Redevelopment Agency
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The inception dates, for each Community Redevelopment Area, are:
 
1984 - Downtown CRA
1989 - St. Andrews CRA

1993 - Downtown North CRA
2004 - Millville CRA
 
 
Mission Statement
The Mission of the Panama City Community Redevelopment Agency is to provide leadership and inspiration for the improvement of all four redevelopment districts by using and leveraging of tax increment financing (TIF) and other available funds to assist and support community and economic redevelopment and revitalization in order to eliminate slum and blight, with every consideration given to actively seeking community input, in order to build community investment and pride for residents and businesses. 
 
 
 

 

 
 
Services, Functions and Activities
 
The Community Redevelopment Agency was created by the City of Panama City in 2006, under the powers granted by the Legislature. Prior to 2006, the CRA was a combined agency with the Downtown Improvement Board. It’s goal is to combat neighborhood deterioration and eliminate economic blight in the designated Community Redevelopment Areas. The work program for the Agency is defined in the Community Redevelopment Plan for each Community Redevelopment Area. In the Redevelopment Plans, comprehensive strategies were formulated to promote community development in various Community Redevelopment Areas - Downtown, St. Andrews, Downtown North, and Millville. 

 

 

What is a Community Redevelopment Agency?

 

The City of Panama City has created four Community Redevelopment Areas (CRAs) to alleviate conditions of blight by reinvesting TIF monies into those areas. CRA districts are one of the few remaining tools that local governments can use to attract new business, invest in infrastructure improvements and rebuild blighted areas. CRA districts are a popular and effective redevelopment tool, used in 44 states across the country.
The four CRA districts in Panama City lie in the historic commercial/fishing district of St. Andrews, the historic commercial district downtown, a district called Downtown North, which encompasses 776 acres from 6th Street north to 12th Street and the newest CRA district in Millville.
 

 

 

Where do Redevelopment Funds Come From?


TIF stands for Tax Increment Financing. It is a way to pay for improvements to vacant and underused land in the City, so that it becomes productive again. The City has created the CRA/TIF districts to help develop blighted areas, build and repair roads and infrastructure, clean up polluted land, and put vacant properties back to work for the people of Panama City. By returning formerly vacant properties to the tax rolls, the City created new sources of revenue within the TIF district, generating the funds needed to make necessary improvements without raising taxes in the community. The City’s investments in these areas are repaid through improved, productive properties that become new, permanent revenue generators.

 

 

 

 

Panama City, FL
Updated Tuesday, February 09, 2010 4:53 AM
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Panama City

Community Redevelopment Agency

 

Attn: Jeff Brown, Interum Executive Director

803 Jenks Avenue, Suite 6

Panama City, FL 32401

 (850) 215-3879

 (850) 215-3860 fax 

cgodbey@panamacitycra.org