Submitted By: Aubrey Hale
presenter
Presentation By: Peter Lee
end
Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
title
Approve the First Amendment to City Redevelopment Agreement for Brewery in Midtown, LLC at 235 NE Watula Avenue
end
OCALA’S RELEVANT STRATEGIC GOALS:
Economic Hub
PROOF OF PUBLICATION:
N/A
body
BACKGROUND:
The original developer’s agreement outlines the redevelopment of the former City Fire Station #1 to be re-purposed to brewery and restaurant operation which may include a distillery at a later date. An amendment was needed to adjust timelines, provide a temporary non-exclusive parking easement and closing requirements for the property.
FINDINGS AND CONCLUSIONS:
The developer has progressed with development of plans and has satisfactorily met the financial requirements and Conceptual Design Plan required in the original agreement. The amendment will permit the closing of the property by adjusting timelines, providing a temporary non-exclusive parking easement agreement, and a performance bond.
FISCAL IMPACT:
City utility and infrastructure improvements will be coordinated with the developer in the most cost-effective manner for all parties. Once conveyed to a private developer, this property will become active on the County's tax role. The property is the site of the former City Fire Station #1 and is currently tax-exempt. Brewery in Midtown, LLC is a for profit organization, and, therefore, will pay any related real property or personal tangible property taxes which will benefit this East Ocala CRA project.
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
This agreement has been approved for form and legality by Assistant City Attorney W. James Gooding,
III.
ALTERNATIVE:
Approve
Deny
Table
SUPPORT MATERIALS: