Submitted By: Aubrey Hale
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Presentation By: Aubrey Hale
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Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
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Consider a twelfth amendment to the Acquisition and Redevelopment Agreement for Mixed-Use Development (Hilton Garden Inn)
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OCALA'S RELEVANT STRATEGIC GOALS:
Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND: The Hilton Garden Inn (aka Downtown Hotel) is subject to a city redevelopment agreement. The Acquisition and Redevelopment Agreement for Mixed Use Development was originally approved at the November 3, 2015, City Council meeting and was subsequently executed on November 16, 2015. Per the mixed-use development agreement, the Developer is required to provide a project consisting of at least 100,370 SF of building area and a two-story second building adjacent to the eastern boundary of the property, at a cost of no less than $15,733,700.00. The project has performed site and building construction of the primary hotel building which was completed on September 21, 2020.
The agreement was amended eight times between the original execution date of the redevelopment agreement and the completion of the first phase of construction, addressing changes to the conceptual plan, easements, timelines, etc. At the time of the completion of the hotel, the Covid-19 pandemic was in its early stages and disrupted some of the timelines that affected the agreement. Therefore, the agreement was again amended (9th Amendment) to reflect the impacts. The agreement would be amended two additional times (10th and 11th Amendments) to address changes in parking locations within the parking garage and the timeline for the completion of the second building. Below is a synopsis of important dates and history of the development:
* An Invitation to Negotiate was released by the Procurement Department on March 11, 2015, to invite developers to propose mixed-use development of various city-owned sites in downtown Ocala.
* O...
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