Editor’s note: We originally linked to the wrong agency in this story. We have since corrected it and linked the appropriate agency. We apologize for the error.
PANAMA CITY, Fla. (WMBB) — First-time home-buyers may soon have more options in Panama City.
Panama City city commissioners approved a new program Tuesday morning that will open up more than 50 vacant lots as affordable housing sites.
“The city of Panama City is not in the business of owning land and being a developer,” Panama City City Commissioner Josh Street said. “This is allowing us to get these lots that we’ve accumulated over the years, whether it be through tax sales or whether it be through purchases in CRA areas and utilizing ship funds out to the general population and getting people in first-time homes.”
The 2023 Infill program is a low-income housing initiative that allows eligible residents another opportunity to own a home by getting them into one of the city’s vacant lots.
Those eligible can then contract with a licensed general contractor to build a home on one of these city lots.
“All of this is designed to help first-time buyer home buyers that have income parameters that qualify for the program that HUD is delineated for us to be able to take the land that we have in the city and help to bring that to the table too,” Panama City City Manager Mark McQueen.
Street said he is excited to see another tangible solution for people to own homes, especially in the face of rising costs.
“Once these lots are out and they’re actually put into a program, we’re going to have a closing and these are actually homes that are going to get built and they’re actually going to get across the finish line and have people living in them,” Street said.
Officials said through this program, no individual home will be more than $300,000.
If you think you may be eligible, contact Panama City’s Community Redevelopment department.
You can also inquire through the ReHouse Bay program.
