Submitted By: Tye Chighizola
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Presentation By: Tye Chighizola
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Approve from the City of Ocala to the Transition Life Center and Community, Inc. a special warranty deed for Parcel # 25237-001-00 (12.23 acres), a corrected special warranty deed and a quit-claim deed for Parcel # 25237-005-00 (9.46 acres), and a Second Amendment to Ground Lease terminating the lease documents
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OCALA'S RELEVANT STRATEGIC GOALS:
Quality of Place, Economic Hub
PROOF OF PUBLICATION:
N/A
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BACKGROUND: Transitions Life Center & Community (TLC) is a privately funded nonprofit organization whose sole purpose is to provide a safe, caring, and enriching community for adults with physical and educational disabilities. On November 3, 2015, the City and TLC partnered on a ground lease for approximately 21.69 acres of property acquired by the City in 1994 as part of the 230kv project.
The initial term of the lease was five years with the option to renew for up to three additional terms of five years, each subject to completing phases and receiving funding. During the lease term, TLC pays a base rent of one dollar per year.
The lease requires TLC to make required improvements to the site over four phases with the option to purchase the site after TLC substantially completes all the necessary improvements. In 2017, TLC received a $600,000 Community Development Block Grant (CDBG) from Marion County to help construct improvements in Phase I. As part of the grant requirements, TLC requested that the City convey the Phase I parcel before substantially completing any required improvements.
The City amended the lease in 2017 and conveyed the Phase I parcel (9.46 acres) by a special warranty deed to TLC in 2018. The warranty deed included a reverter clause if TLC is not using the property consistent with the ground lease. The County CDBG mortgage/promissory note will be forgiven with no outstan...
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