Submitted By: Danielle Phillips
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Presentation By: Darren Park
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Department: Public Works
FORMAL TITLE:
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Budget Resolution 2026-130 to amend the Fiscal Year 2025-26 budget to transfer funds from the Stormwater Reserve for Contingency account to purchase parcel 25502-000-00 in the amount of $550,000
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OCALA'S RELEVANT STRATEGIC GOALS:
Operational Excellence, Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
Parcel No. 25502-000-00 consists of approximately 6.65 acres (289,674+ square feet) of vacant land located east of NW Martin Luther King, Jr. Avenue, with easement access from the terminus of NW 18th Street, currently owned by Stavola Investments LLC (Stavola). Please refer to the attached Aerial and Case Maps.
Adjacent uses include vacant land to the north and west, city-owned property (William James Walking Trail) to the south, and the Railyard One property to the east. NW 18th Street extends east from NW Martin Luther King, Jr. Avenue as a two-lane paved interior street and then continues north and east as an unpaved dirt road towards the subject site. Although an aerial map provided by the Marion County Property Appraiser's Office indicates the right-of-way for SW 18th Street (50-feet wide) extends in an east/west direction from NW Martin Luther King, Jr. Avenue, the roadway physically begins within a City-owned property (Parcel No. 25489-000-00) adjacent south of the aforementioned right-of-way. It then turns north to the right-of-way and continues east to another City-owned parcel (Parcel No. 25491-001-00) that provides easement access to the northwest corner of the subject property. NW Martin Luther King, Jr. Avenue is a connector that extends from NW 35th Street to SW 17th Street (SR 464).
Stavola used the property to reduce tree debris and storage.
FINDINGS AND CONCLUSIONS:
Using the Sales Comparison Approach and analyzing six comparable land sales and four listings, the appraiser concluded a market value ...
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