From the WMBB website:
The Panama City Airport Authority met Tuesday morning to discuss bids for both the sale of the existing airport and the contract to build the new terminal.
The airport is relocating from Panama City to West Bay on the far end of the beach. That project will cost upwards of 300 million dollars.
Part of the revenue for that airport is the sale of 713 acres the current airport sits on. The Property Appraiser's office estimated it was worth 60 million two years ago.
PCA Development won the bidding process with and offer of 75 million dollars. They hope to build a community with affordable housing, entertainment, and housing complexes.
"We want this to be an exciting place to live and to visit," says Vaughan Blaxter, Managing Director for PCA.
The Airport Board will now begin negotiations with PCA to work out payment. PCA has requested that 14 million of the offer be paid over a period of time, as much as 30 years. They hope to be able to sell parcels of the land before paying the entire 75 million.
Also at the board meeting, a contractor was selected to begin negotiations for an airport terminal at the new site. The victor was Kellog Brown & Root from Houston. They will relocated several employees to the area including Project Manager Jeff Dealy.
"My family can't wait to come to the beach," Dealy says.
KBR was one of seven contractors vying for the job. Board Chairman Joe Tannehill made clear to other firms that they're not out of the running yet. If negotiations with KBR fall short, the board will revert back to one of the other companies.
The Airport Board is still waiting for the Army Corp. of Engineer's permit. Airport Executive Director says all issues with that permit, including the existence of Ivory Billed Woodpeckers on the land, have been resolved.
Maybe it's legit but it does seem a little fishy to me. 
