Submitted By: Roberto Ellis
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Presentation By: Roberto Ellis
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Approve a West Ocala Community Redevelopment Agency new construction incentive grant to Railyard One, LLC for the construction of a new 10,855 square foot warehouse and office building at 1700 NW Eighth Avenue in an amount not to exceed $203,881
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OCALA'S RELEVANT STRATEGIC GOALS:
Quality of Place, Economic Hub
PROOF OF PUBLICATION:
N/A
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BACKGROUND: The New Construction Incentive Program (Program) aims to stimulate catalytic development within the Community Redevelopment Agency (CRA) subareas by supporting new construction and major redevelopments. It fulfills the CRA's mission to improve and redevelop properties.
Railyard One, LLC plans to demolish a dilapidated structure at 1700 NW Eighth Avenue and construct a new 10,855 square-foot warehouse and office building, including outdoor storage, parking, landscaping, and stormwater ponds. A site visit by the Grant Review Committee (GRC) on July 8, 2024, highlighted the property's blight and the potential positive impact of the proposed redevelopment. The GRC recommended moving forward with the grant application.
Projects must score at least 80 points to qualify for a grant based on fiscal impact, feasibility, catalytic benefits, and alignment with community goals. The project received an average score of 86.7 points from the West Ocala CRA Advisory Committee during a review on July 18, 2024. Although the application was initially tabled due to the CRA's prior recommendations for three projects within the fiscal year, it was unanimously recommended for approval during the September 19, 2024, meeting. This application marks the first proposed Fiscal Year 2024-25 grant.
FINDINGS AND CONCLUSIONS:
Key project details include:
* Construction Equipment: The site will store an average of $20 million of construction equipment, including dozers, loaders, gene...
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