Ventura-- The Board of Supervisors, Tuesday, December 14, approved a ground lease agreement for Rancho Sierra Senior Apartments, 1732 Lewis Road, in the unincorporated area in the City of Camarillo.
Chuck Alvarez, Real Estate Manager for the Public Works Agency, presented the item to the Supervisors and said the ground lease agreement would encumber approximately two acres of county-owned land at the Lewis Road Complex.
“The Lewis Road Complex currently houses Casa Pacifica, the Rain Project, Via Calleguas, the Growing Works Nursery, and other supportive programs,” he said.“RanchoSierrawillusethe leased premises solely for the construction, development, and operation of affordable, permanent, and supportive senior housing, consisting of 49 one-bedroom units and one manager’s two-bedroom unit. The term of the lease is 99 years, and the annual rent payable under the lease is $150 per year.”
Rancho Sierra will prepay the rent in a single lump sum payment of $14,850.
“The ground lease agreement is a triple net lease, so Rancho Sierra is responsible for all utilities and payments, such as taxes, insurance, and maintenance,” he said. “The rent is an absolute net return to the county, free and clear of any expenses or charges. There is no option to extend…
