RFP_GRM220445_Development_Opportunity_-_1749_W._Silver_Springs_Boulevard_and_105_SW_19th_Avenue_-_Exhibit_G_-_Preliminary_Term_Sheet.docx

This is a Preliminary Term Sheet for a development opportunity issued by the City of Ocala, Florida, in response to RFP GRM220445 for the redevelopment of approximately 0.45 acres of City-owned property located at 1749 W. Silver Springs Boulevard and 105 SW 19th Avenue. The City seeks qualified development teams to design, develop, and construct a creative mixed-use project that complements surrounding amenities. Acceptable uses include single or two-family housing, professional and business offices, hairstyling shops (limited to three stations), medical and dental offices, other complementary commercial uses, and community uses. The City prefers a mix of unique uses with first-floor active uses along Silver Springs Boulevard and encourages inclusion of locally and regionally owned businesses. Site control options are negotiable, including outright sale or alternative arrangements.

Developers submitting proposals must complete the Preliminary Term Sheet by providing the developer name, project overview, desired purchase price, detailed construction budget based on contractor quotes, method of adequate assurance for any incentive requests, construction loan amount, developer equity investment amount, and estimated construction period in months from permit application to final completion. The City has established a land value of $90,000 for the property and will consider various incentive types including Tax Increment Financing (TIF), property donations, grants, and fee contributions. All parcels are City-owned, and costs and terms will be negotiated individually with selected builders and developers. The specific response deadline, award date, and contract term are not detailed in this term sheet document.