Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Oxnard staff recommends $1 lease and rent forgiveness for Teatro de las Americas
Summary
City staff urged the committee to recommend City Council approve a three-year lease (with two one-year options) and forgive $15,690 in past rent for Teatro de las Americas, proposing a $1 annual fee and conditional quarterly revenue-based rent when the theater becomes profitable.
Jasmine McGinty, Economic Development Manager with the City of Oxnard Housing Department, told the committee that staff recommends the City Council approve a new lease with Teatro de las Americas and forgive $15,690 in past-due rent through January 2026.
McGinty said the city owns a 1,980-square-foot building at 321 West 6th Street in Downtown Oxnard that has housed Teatro de las Americas since an initial lease was signed on Nov. 18, 2019. The original rent was set at $0.50 per square foot, which the staff report calculates as $990 per month for the space. A 2023 amendment extended the term to Nov. 20, 2024 and recognized a $35,000 rent credit for tenant improvements plus an additional $15,000 credit related to COVID-19…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
