Officials move forward with plan to bond money for CRA

Local News

PANAMA CITY BEACH, Fla. (WMBB) — Panama City Beach officials are hoping to get their CRA project moving a little faster and looking at all options to get that done.

The CRA project is focused on improving Front Beach Road. The city is finishing up segment two right now and will start the next one very soon.

Last month, the council asked City Attorney, Amy Myers, to look into the process of bonding money to expedite the process.

During Thursday night’s meeting, Myers gave the council an update to their options.

Mayor Mike Thomas says they’re looking at two, separate 40 million dollar bonds, giving the city the ability to start a new segment and work on a side road at one time.

“We don’t want to bond enough to just start doing the whole thing because if you cut traffic down on Front Beach Road, you deplete revenue so much it puts the city in a bind,” Thomas said.

Thomas says the faster they complete this project, the faster they can start sending some money back to the county.

Myers will bring back more information to the council for the bonds in the following months.

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