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

This is a deed document for an Invitation to Negotiate (ITN# GRM/260331) issued by the City of Ocala, Florida, for the development of affordable housing on Lot # 2220-005-003, a 0.17-acre parcel zoned Single Family Residential (R-1A) in Marion County. 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 must develop either multi-family or single-family units for rent or homeownership with a minimum of 900 square feet of livable area, at least two bedrooms and bathrooms, and compliance with specific design guidelines including concrete block construction, architectural shingles, and energy-efficient systems. The deadline for 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 criteria are weighted as follows: Experience and Capacity of Development Team (20 points), Development Concept and Project Design (30 points), Financing Plan (20 points), and Development Schedule (30 points). Construction must commence within six months of closing and be completed within eighteen months.

The City will convey the property via special warranty deed for a nominal purchase price of $7,000, with a fair market value of approximately $34,174, and the property will be sold at no less than 100% of the assessed value. A $1,000 security deposit will be applied to the purchase price. Prospective developers must demonstrate a minimum of three years of housing development experience and completion of at least three separate housing projects, along with a minimum equity investment of $223,878 and total development costs equaling 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. The desired minimum affordability period is twenty years for both rental and for-sale units. Developers are required to submit comprehensive financial documentation to a Financial Review Committee, including two years of federal corporate income tax returns, financial statements, project pro forma, cash flow projections, construction cost estimates, and loan commitment letters. Title will not transfer until all sale terms are complete, with language included in the deed to allow title reversion to the City if construction is not initiated as required.