ITN_GRM250247_Development_-_Affordable_Housing_-_Lot__2497-005-005_-_Exhibit_C_-_Deed.pdf

This document is a Statute 125 Deed prepared by Marion County, Florida, specifically the Office of the County Engineer, involving the transfer of two parcels of land located in Marion County. The deed, dated May 5th, 2020, involves the City of Ocala as the Grantee, with a mailing address of 201 SE 3rd Street, Ocala, FL 34471. The transaction is conducted for the nominal consideration of one dollar, pursuant to Section 197.592 (3), F.S., and involves two specific parcels: Parcel 1 in Fox Hollow (Block E Lot 5, Plat Book 'W' Page 42) and Parcel 2 in Madison Heights (Block A Lot 18, Plat Book 'F' Page 47).

The deed is part of a broader affordable housing initiative by the City of Ocala, which seeks to increase housing availability for households up to 120% of Area Median Income. The property transfer includes provisions that the title can revert to the City if construction is not initiated within six months of closing, and construction must be completed with a certificate of occupancy issued within 18 months. The City reserves the right to monitor progress and has established a selection process for developers, builders, partnerships, and agencies interested in developing residential units, with the goal of contributing to neighborhood stabilization efforts through affordable housing development.