Panama City Marina Moves Forward | Panama City Beach News

Panama City’s downtown marina is finally moving forward—with the first fifty wet slips set to break ground as early as December. Instead of taking on a costly FEMA loan, the city struck a smart deal with The St. Joe Company: they’ll prepay up to $5 million in rent to cover construction, saving the city over $300K annually in interest. In return, St. Joe will manage the slips for five years and share revenue back to the city to boost downtown commerce. While this deal covers the slips, future development—including utilities costing over $3 million—remains unfunded and up for discussion at the next city meeting. This is just the beginning; tough decisions lie ahead as the city plans for the marina’s next phases and seeks community input. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c8cf10647fb4123e