Tax revenue deal for Marina Island property put on hold, Lynn Haven CRA not expanding

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LYNN HAVEN, Fla. (WJHG/WECP) - After Lynn Haven city leaders announced their plans to expand their Community Redevelopment Agency to the old fuel depot site, county officials stepped in saying tax money on the property currently goes to the city and the county and if the city's CRA expanded, the revenue would only be able to fund CRA projects.

"At the time the CRA would be imposed on that area, you essentially stop the collection of new revenue moving to the city and the county and the new revenue that would be generated from that point forward would go into the CRA," Bay County Manager Bob Majka said.

In hopes of a compromise, the county presented the city with a request for 10 percent of the money.

"Our request was that we get to participate or share in the additional revenue that would be generated that would go into the CRA, allowing some of that new revenue as a result of growth and redevelopment to continue to come to the county general fund and to continue to go into the city of Lynn Haven's general fund to offset the impact of increased costs as the result of additional law enforcement, fire protection, code enforcement, parks and recreation, things of that nature," Majka said.

City officials say conflicting opinions on the request have led them to the decision to not expand their CRA at this time.

"Even though the plan was good from the county in some of the commissioners' eyes and some were not in favor of it, we will not be tackling that issue at this time," Lynn Haven City Manager Michael White said.

The fuel depot site is planned to transform into a Marina Island, featuring million dollar homes, roof-top bars, and high-end restaurants.