Forestar Real Estate Group, Inc., the company behind The Ridge at Heathbrook, is planning to petition the city of Ocala to change the classification status on its latest project.
The Ridge at Heathbrook, a residential housing development that the city green-lit in 2020, will feature nearly 400 new homes when it's complete. Construction of the new community is ongoing, and broken up into phases, the first of which will see 135 residential units erected.
As such, Forestar Real Estate Group would like for the city of Ocala to give the new community a "Community Development District" label, or CDD. A CDD is a local, special-purpose government framework authorized by Chapter 190 of the Florida Statutes, and are typically comprised of local officials who vote on critical matters to the community. Such a categorization would open the door to all kinds of benefits, including financial assistance and a deal with the city that would result in millions of dollars being pledged toward funding roads, irrigation and sewer system.
In Forestar's proposal, which will be presented to the city council this month, the company will request a certain budget from the city each year, at least two months before a deal is struck.
