We are exploring several models of financing that other municipalities have used to see which is the best fit for this area.  However, we do not intend to have the City or County be responsible for financing or assuming debt to build and operate this facility.  As a nonprofit, we would seek grants and donations to shoulder the majority of the construction cost, as well as ticket sales and donations to support the education of area students during operations.

First and foremost, the facility will be an educational facility for area students.  It will also provide space for community events and a small conference facility for talks and community marine science education.  Taxes paid during construction, as well as sales tax paid during operation from ticket sales and the Aquarium store, will feed directly into the City and County.   It is expected that visitors to the facility will also visit other businesses downtown when they come to view the Aquarium.

We are requesting space at the marina that would not overlap with or take away from the city-approved boat ramps and trailer parking.

We have proposed to use ~2-3 acres of the marina uplands, leaving over 3 acres for other development and uses as approved by the city.  This would include space for an amphitheater or other walkable green space in addition to other proposed development.

The facility will complete the necessary studies required to assess the impacts of traffic on downtown Panama City.  At the site on the marina, we would only put in a school bus drop-off and ADA-required parking spaces, not parking for the facility.

We have also suggested to the City that they can apply to the TRIUMPH fund for a grant to build parking facilities in downtown Panama City.  We would encourage this so that our facility would not need to take up space at the marina with parking.

This will be a non-profit facility that, first and foremost, will be an education facility for area students and visitors.  The facility will also apply for certification from the Association of Zoos and Aquariums (AZA).  In addition to the federal and state permits required for such a facility, we will also voluntarily undergo independent audits from concept through operations from the AZA every year after certification.

It will take 3-5 years from acquiring the space before the facility opens its doors.  It will take approximately 6 months to complete the concept design, engineering cost estimate, and economic impact study.  At that point, we would finalize any land lease and begin the detailed engineering design and bid process, as well as raise money through donations, grants, and private foundations.  Construction will take 18-24 months once the funds have been raised to build the facility.

Costs will be developed during the concept design phase, but most aquariums in the US are built for $800 to $1,200 per square foot.  So anywhere between $30M and $60M to build the facility.  Costs for someone to visit the Aquarium would be comparable to other regional facilities in the US, and we will have tiered entry fees based on age with discounts for the military.