Ventura--The Ventura County Consolidated Oversight Board unanimously adopted a resolution approving the Recognized Obligation Payment Schedule for the period of July 1, 2024, through June 30, 2025, for the Oxnard Community Development Commission Successor Agency during its Wednesday, January 24, meeting.
ADAM SMITH, a project manager in City Manager Alex Nguyen’s office, said the Successor Agency no longer has any properties.
“We either sold or transferred them to private parties or the City of Oxnard for affordable housing purposes,” Smith said. “We have five bonds we’re in the process of paying down.”
He said the Successor Agency is ineligible for the last round of ROPS (Recognized Obligation Payment Schedule).
“We have a couple of developer agreements that have favorable payments, so we’re monitoring those,” Smith said. “We have the bond debt service with a couple of variable payments. We brought down our administrative allowance again this year to $150,000.”
Mike Mishler from the Independent Special District Selection Committee said he didn’t see a breakdown of the $150,000 for bond debt service.
“The administrative allowance was presented to the board in September,” Smith said.
The payment to the Riverpark Development goes until 2036, Smith said, which is based on property…
