Budget Resolution 2026-174 to amend the Fiscal Year 2025-26 budget to appropriate funding from the Affordable Housing Incentive Fund Reserves to provide an affordable housing development loan for Madison Oaks East, LLC in the amount of $460,000

City Council · 2026-09-15 · agenda_item

The City of Ocala City Council is reviewing a budget resolution to provide a $460,000 loan for an affordable housing development. This loan will be funded from the Affordable Housing Incentive Fund Reserves and is intended for Madison Oaks East, LLC. The project is currently pending review by the City Council. This budget resolution is an early step that could lead to future construction and development opportunities. While specific site plans are not yet detailed, such affordable housing projects typically involve site preparation, utility work, building construction, and related trades. Businesses involved in construction, material supply, and professional services may find opportunities as the project progresses through planning and permitting stages. Engaging early allows interested parties to understand the project's scope and potential timeline.

loan amount

460,000 $