A new hotel under construction in downtown Ocala is poised to receive over $5.6 million in incentives, including 225 exclusive parking spaces in the city’s second parking garage, a $500,000 grant, and a pass on $199,686 in building permit and impact fees.
The redevelopment agreement for the new Marriott AC Hotel in downtown Ocala will be presented to the Ocala City Council during its regular meeting on Tuesday, August 19.
The property is situated within the Community Redevelopment Agency (CRA) Downtown subarea. Community redevelopment areas are focal points for revitalization, both aesthetically and economically. The city’s agency focuses on redevelopment activities in these areas.
The hotel property in downtown is considered a “catalytic opportunity” due to its “prime location, investment possibilities, and the potential economic benefit to surrounding businesses and properties,” according to a memo prepared by city staff.