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Oxnard council and housing authority approve loan agreement to fund Las Cortes settlement
Summary
The City Council and the Oxnard Housing Authority approved a loan agreement and related budget actions to fund a proposed settlement with UHC regarding the Las Cortes housing project in La Colonia. City council approved an $800,000 loan and the housing authority approved $1.2 million in funding and a bad‑debt write‑off; both votes were unanimous.
Oxnard — The City Council and the Oxnard Housing Authority voted this meeting to approve a loan agreement and associated appropriations to partially fund a proposed settlement related to the Las Cortes housing project in the La Colonia neighborhood.
What the council approved: On April 15 the City Council adopted a resolution authorizing a loan agreement with the Oxnard Housing Authority for $800,000 from the city general fund (account 101, available fund balance) to help fund a tentative settlement between the housing authority and UHC (the limited‑partnership entity named in the matter). The council vote was 7–0. The Housing Authority Board of Commissioners separately adopted a resolution authorizing the housing director to accept the city loan and approved a housing authority appropriation of $1.2 million from the housing…
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