Submitted By: Endira Madraveren
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Presentation By: Aubrey Hale
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Termination of Agreement Limiting Density between the City of Ocala and Ransome Group (Parcel 2830-000-01 and 23812-000-00)
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OCALA'S RELEVANT STRATEGIC GOALS:
Quality of Place, Economic Hub
PROOF OF PUBLICATION:
N/A
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BACKGROUND: An agreement between the Ransome Group Investors I, LLLP, and the City of Ocala, limiting density on certain properties, was approved by the City Council on December 21, 2005. The agreement was further assigned to Ransome Group Investors I, LLLP, and any successors in title. The current owner (successor in title) of a portion of the properties subject to the agreement, KAS Ocala, LLC, is seeking termination of this agreement as it applies to their properties. The request, along with the KAS Ocala, LLC property map and descriptions, is attached to this agenda item.
At the time of the agreement in 2005, the property owner was pursuing Future Land Use Map amendments to designate the properties as Low Density Residential, Medium Density Residential, Retail Services, and Professional Services. As a result of those efforts, the Agreement Limiting Density was executed to ensure that development of the property did not exceed thresholds that would trigger review as a Development of Regional Impact (DRI) under Chapter 380, Florida Statutes. The agreement established caps on residential units, retail square footage, and office development, such that the combined development would remain below applicable DRI thresholds unless additional state review or approvals were obtained. Without the density restrictions, development at the maximum densities and intensities permitted under future land use categories would have exceeded the thresholds established under the Development of Regional Impact (DRI) provisions of the Florida Statutes in effect at that time.
On January 22, 2013, t...
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