ITN_GRM260331_Development_-_Affordable_Housing_-_Lot__2220-005-003_-_Exhibit_C_-_Deed.pdf

This is a deed document related to ITN #GRM/260331, 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—either multi-family or single-family homes for rent or ownership—designed to serve households up to 120% of Area Median Income as defined by the U.S. Department of Housing and Urban Development. Prospective developers must demonstrate proven experience, financial resources, and professional expertise in developing, marketing, and managing quality, affordable residential units. The City's Selection Committee will review all proposals, conduct interviews, and recommend qualified proposals to City Council based on established evaluation criteria. City Council reserves the right to accept any proposal serving the public interest or reject any or all proposals submitted.

The deed document establishes conditions for the transfer of property title, which shall not occur until all sale terms are complete. Language within the deed includes a reversion clause allowing title to return to the City if construction is not initiated within a specified timeframe, ensuring accountability and timely development of the affordable housing project. The City reserves the right to request additional information or require execution of supplementary documentation as necessary to determine construction financing mechanisms and verify the developer's financial capacity to complete the project.