Development - Affordable Housing - Lot # 2856-003-003

ITN# GRM/250245 Development - Affordable Housing - Lot # 2856-003-003 1.1. INTRODUCTION AND PROJECT OVERVIEW The City of Ocala ("City"), through this Invitation to Negotiate ("ITN"), seeks proposals from interested and qualified for-profit and non-profit developers, builders, partnerships and/or agencies interested in constructing affordable and safe residential units designed to meet City Council's goal of increasing the availability of affordable housing for ownership and rent in Ocala, Florida, and contribute to neighborhood stabilization efforts. The constructed housing units may be multi-family units or single-family units for rent or homeownership in accordance with the parcel's current zoning designation. The housing type(s) offered must benefit households up to 120% of Area Median Income as defined by the United States Department of Housing and Urban Development. In order to be eligible for consideration, prospective developers, builders, partnerships and/or agencies must meet the minimum qualifications set forth in this ITN and demonstrate proven experience, financial resources, and professional expertise to develop, market, and rent and/or sell quality, affordably priced, residential units. The City reserves the right to request additional information or require execution of additional documentation as may be reasonably necessary to determine the financing of construction of the developed units. The City's Selection Committee shall review all proposals, conduct interviews, and recommend one or more proposals to City Council based on the evaluation criteria set forth herein. City Council may accept any proposal that it deems to serve the public interest and reserves the right to reject any or all proposals. The transfer of title to the property shall not occur until all of the terms of the sale are complete. Language shall be included in the deed document to allow title to revert to the City in the event that construction is not initiated within six (6) months of closing and any deposit or other funds paid by developer shall be forfeited to the City. Construction must be completed and a certificate of occupancy issued for the completed units no later than eighteen months (18 months) from the date of closing. City staff shall schedule and monitor progress meetings to ensure construction is complete in accordance with the Development Agreement. Proposers are encouraged to communicate any questions regarding this ITN by the deadline set forth for questions herein. All questions should be sent in writing via e-mail to the Buyer Contact identified. Questions and answers will be communicated to all proposers by issuing an addendum posted to www.bidocala.com.