Optimum RV will receive a $150,000 economic grant from the city of Ocala for renovations to their new headquarters in southeast Ocala.
Ocala City Council members approved the economic investment program grant at their July 20 meeting. Optimum Dealership Group, which represents the RV company, now enters into an agreement with the city of Ocala for renovations to the headquarters, which is located at 2303 SE 17th Street.
According to city documents submitted by Aubrey Hale of the Ocala Growth Management Department, Optimum RV submitted its application for the grant in May and initially requested $400,000 as an incentive to renovate the existing building.
The company indicated that it would provide at least fifty positions with an average annual wage of $50,000. The cost to renovate the building is estimated to be $800,000.
City of Ocala staff prepared a return on investment (ROI) analysis for the request and found it to have a payback period of 14.11 years. Instead, city staff and the applicant discussed a lesser incentive of $150,000, and the addition of capital improvements for machinery and equipment.
An ROI analysis of the project at that amount with the addition of a machinery and equipment capital improvement requirement found the payback period to be just under five years.
According to city records, the agreement contingent upon the company “completing the renovations to the premises and purchase and installation of machinery and equipment.” The contract further provides that the business will remain a “utility customer for no less than five years” and meet the employment requirements within three years.
The building was formerly occupied by RealTruck.