OCALA, Fla. (WCJB) - Ocala City Council members are meeting today to discuss the future of the historic Marion Hotel, which is currently being renovated.

The city of Ocala incentivizes projects like this up to 10% of proposed development cost, which includes grants, tax credits, CRA funds, and real estate.

Parking lot six is currently owned by city, acquired in 2018 for about $580,000 and apart of the incentive is to give this lot to the developers for the hotel.

At the previous meeting, council members discussed a reverter clause that states city could by back the lot within four years for $1.254 million if they chose to build a parking garage, so long as they assign 100 spots to the hotel.

“The problem that I personally had with it was that I didn’t like the reverter clause. I did no

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