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

This is a deed document for the City of Ocala's Invitation to Negotiate (ITN# GRM/260331) for affordable housing development on Lot # 2220-005-003, a 0.17-acre parcel in Marion County, Florida. 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 specified design guidelines including concrete block construction, architectural shingles, and energy-efficient systems. The ITN includes a deadline for questions on 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. Construction must commence within six months of closing and be completed within eighteen months. 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).

The property will be conveyed via special warranty deed for a nominal purchase price of $7,000, with the fair market value estimated at $34,174. A $1,000 security deposit applies to the purchase price. Developers must demonstrate a minimum equity investment of $223,878, with 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. The desired minimum affordability period is twenty years for both rental and for-sale units. Prospective developers must demonstrate a minimum of three years of housing development experience and completion of at least three separate housing projects. Developers are required to submit detailed financial documentation including two years of federal corporate income tax returns, financial statements, project pro forma, cash flow projections, construction cost estimates, and loan commitment letters to the Financial Review Committee.