VCCCD Board of Trustees approve purchase of property at 761 East Daily Drive, Camarillo, to relocate District offices

Monday, October 17, 2016 - 8:00am

(VENTURA, Calif.) Oct. 17, 2016 –
The Ventura County Community College District Board of Trustees voted unanimously during the October 11 Board of Trustees meeting to enter into a purchase and sale agreement for the 38,893 square feet office building located at 761 East Daily Drive, Camarillo, CA, for the relocation of the District Administrative Center. The building is situated on a 20-acre professional office zoned and master-planned seven building site. VCCCD Chancellor Bernard Luskin and Vice Chancellor Business Services David El Fattal negotiated the purchase price of $7 million. Approximately $1 million more will be expended for closing costs, appraisal and inspections, interior building renovation and improvements, furniture and equipment, and signage and moving costs.

The facility is centrally located in Camarillo within the VCCCD service area and provides improved ease of access for students, faculty, staff and community members. It also assures adequate office and storage space, training and conference rooms, a board room and sufficient parking. In addition, there are long-term lease agreements with four tenants that will provide the District with approximately $272,000 in annual lease payments, along with the annual savings of $420,000 from the elimination of the District’s current monthly lease obligation.

The District has leased its current offices of 24,000 square feet at 255 West Stanley Avenue, Ventura, CA, from the Ventura Unified School District since 2006. The current lease agreement ends on January 31, 2017. The Board of Trustees also voted to extend the lease agreement through April 2017, at which time the district administrative and support center is presently scheduled to relocate.

"In addition to the cost savings and future growth opportunities, this building is conveniently located," said Larry Kennedy, Chair of the Board of Trustees. "It will allow the district to better serve the needs of our students, employees and the community."

Escrow is anticipated to open immediately with a $150,000 deposit. Close of escrow is expected to occur on or near November 10, 2016, at which time interior renovations should begin.

 

The Ventura County Community College District is a member of the 113-campus California Community College system, and serves more than 50,000 students annually. The District’s three colleges- Moorpark, Oxnard, and Ventura- offer programs in general education for degrees and certificates, transfer to four-year colleges and universities, career technical education, and provide opportunities to engage in co-curricular campus activities. For more information, please visit www.vcccd.edu.


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