The City of Groveland is seeking proposals from developers to buy 40 acres of land east of Sampey Road in its Groveland Commerce Park owned by the city's Community Redevelopment Agency.
Residential developers need not apply. The city is interested in the property being developed for industrial or commercial use.
Estimated values on the land range from $967,640 to $1.475 million, and the city may not consider an offer below the $967,640. Ten percent of the accepted sale price is required as a good faith deposit, or a bank letter of credit equal to 10 percent.
Sealed bids will be opened at 3 p.m. on Sept. 13. The city requires closing within 60 days of the Community Redevelopment Agency's acceptance of the proposal.
Sandwiched between Groveland, Clermont, and Minneola is Hunt Industrial Park, a business that has developed into more than just rented space for companies, but a de facto business incubator. The owners are now looking for new land to expand.
The winning developer has 36 months after closing to start construction. Failure to have the construction underway will result in the title reverting back to the CRA and repayment of all closing costs and expenses from the closing.
Groveland City Manager Redmond D. Jones II told GrowthSpotter on Friday now that the economy is in recovery, the city has received several inquiries about the land.
"So we decided to go ahead and put (the RFP) out and see what kind of proposals we would get," Jones said.
He said another piece of city-owned land recently drew the interest from a number of interested parties, but it did not have a RFP process set up.
"We kind of learned from that, so we decided to gather development opportunities and see what the interest is," Jones said. "It's part of our State Road 50 corridor, and our mission is to continue developments in that area that are commercial, industrial and even recreational."
"We have been growing leaps and bounds. Some of the (growth) rankings have us as the fourth fastest growing community in the state of Florida," Jones said.