Pension Increase and Two Land Deals on Davenport’s Monday Agenda
Davenport commissioners will decide Monday whether to raise police and firefighter retirement benefits, buy two parcels on U.S. Highway 17/92 and sell a downtown block on Market Street.
The City Commission meets at 7 p.m. in the Commission Chambers, 1 South Allapaha Ave.
Ordinance No. 1455
A proposed increase to police and firefighter retirement benefits would raise Davenport’s required pension contribution from 2.6% of payroll to 4.7%, an 81% increase, according to Monday’s agenda packet.
The ordinance would raise the pension benefit multiplier from 3% to 3.25%. Members who retire or enter the Deferred Retirement Option Plan before Oct. 1, 2026 keep 3%. Those retiring or entering the DROP on or after that date would receive 3.25%, applied to all years of their credited service.
The actuarial impact statement says the city will cover the cost of the increase. For the fiscal year ending Sept. 30, 2027, the city’s required contribution rises from 2.6% of payroll to 4.7%. Member contributions stay at 5%. The state’s share stays at $456,432.
The DROP plan covers 75 participants, 50 of them active. Projected annual payroll is $3,530,038.
Monday is the first reading. Second reading is Aug. 17.
A $200,000 purchase on U.S. 17/92
Commissioners will consider a vacant land contract to buy two parcels at U.S. Highway 17/92 and Highway 17 for $200,000 in cash, with no financing contingency.
The seller is Holly Hill Fruit Products Co., Inc., identified in the contract as a dissolved Florida corporation. William Hoosier III signed as president on July 28. Closing is set for on or before Aug. 31.
The contract selects no due diligence period, meaning the city is not conditioning the purchase on a Phase 1 environmental assessment, survey or other inspections. The legal description attached to the contract is marked preliminary and subject to change after a certified boundary survey.
A $575,000 sale on Market Street
A second contract would sell 119 Market Street, ten lots in Block 38 of the original plat of Davenport, for $575,000. The buyer is listed as CM Holdings CFL, Inc. A $5,000 deposit is due within three days of the effective date, with $570,000 due at closing on or before Sept. 3. The copy in the packet is unsigned.
At the July 20 meeting, representatives of J&N Stone presented conceptual renderings for a two-story retail and office building on the Market Street property. The City Manager told commissioners the next step would be negotiating a purchase and sale agreement, and the commission reached consensus to move forward.
Calendar Changes for September
September’s regular meetings have been moved to Thursday, Sept. 10 and Thursday, Sept. 24, both of which double as budget public hearings. A Special Magistrate hearing is set for Aug. 11 at 9 a.m. The Planning Commission meets Aug. 17 at 6:30 p.m., before that night’s regular meeting.
Your community. Your news. Your right to know. The Citrus Tea.
Follow us on Facebook and Subscribe at thecitrustea.com for breaking news and weekly updates from The Citrus Tea News.
Sources: “City Commission Meeting Agenda Packet, August 3, 2026,” City of Davenport; Ordinance No. 1455, City of Davenport; “Actuarial Impact Statement, City of Davenport Police Officers’ and Firefighters’ Pension Trust Fund, July 23, 2026”; Business Impact Estimate, Ordinance No. 1455, City of Davenport; Vacant Land Contract, Holly Hill Fruit Products Co., Inc. and City of Davenport; Vacant Land Contract, City of Davenport and CM Holdings CFL, Inc.; “City of Davenport Regular Meeting Minutes of July 20, 2026”
