ITN_GRM260331_Development_-_Affordable_Housing_-_Lot__2220-005-003_-_Exhibit_B-_Parcel_Identification_Information.pdf

This is a Parcel Identification Information exhibit for an Invitation to Negotiate (ITN) issued by the City of Ocala, Florida, for the development of affordable housing on Lot # 2220-005-003. The City seeks qualified for-profit and non-profit developers, builders, partnerships, and agencies to construct affordable residential units targeting households earning up to 120% of Area Median Income. Proposers may develop either multi-family or single-family units for rent or homeownership, with each unit requiring a minimum of 900 square feet of livable area, at least two bedrooms and two bathrooms, and compliance with specified design guidelines including concrete block construction, architectural shingles, and energy-efficient systems. The parcel comprises 0.17 acres and is zoned Single Family Residential (R-1A) in Marion County, Florida. The deadline for submitting questions is February 17, 2026, at 5:00 p.m. EST, with proposal submissions due on March 2, 2026, at 2:00 p.m. EST through the City's e-procurement portal. Evaluation will be based on Experience and Capacity of Development Team (20 points), Development Concept and Project Design (30 points), Financing Plan (20 points), and Development Schedule (30 points).

The property will be conveyed via special warranty deed at a nominal purchase price of $7,000, with a $1,000 security deposit applied to the purchase price and fair market value estimated at $34,174. Developers must demonstrate a minimum equity investment of $223,878 and total development costs equal to or exceeding $100,000. The City offers potential incentives including a Housing Incentive Fund Request up to $20,000 and potential fee waivers or deferrals for building permits and impact fees. Developers must submit detailed financial documentation including two years of federal corporate income tax returns, financial statements, project pro forma, and loan commitment letters to a Financial Review Committee. Applicants must demonstrate a minimum of three years of housing development experience and completion of at least three separate housing projects. Construction must commence within six months of closing and be completed within eighteen months, with a desired minimum affordability period of twenty years for both rental and for-sale units.