Panama City OKs annexation of 25 acres for retail development

Editor’s note: This story was updated to correct an error. Panama City annexed 25 acres, and did not purchase the land.

PANAMA CITY — City Commissioners on Tuesday approved the Project Juniper reinvestment agreement, which involves the annexation of 25 acres of land for retail developments and a connector road that will connect State 390 to U.S. 231. 

According to city officials, Panama City will reimburse the developer the cost of building the road — $3.3 million — and then the developer will give it to the city to maintain. The road will provide access to the retail development, which is slated to bring in hundreds of jobs and more than $500,000 in annual revenue, city officials say.

Commissioners say that by purchasing the land, it becomes part of Panama City, allowing for more growth in the area.

Previously: Shop ’til you drop! New Panama City retail development expected to bring 200 jobs

More: Could new Bay County housing developments harm the environment? Some residents say yes

The city agreed to use merchant fees to reimburse the developer, BRE Panama City LLC, over a period of time and said it would not make any upfront payments and would not be required to pay anything if the project does not happen.

https://www.newsherald.com/story/news/2021/12/01/panama-city-approves-purchase-25-acres-retail-development-and-connector-road-highway-390-to-highway/8809885002/