City Council 2 3 2026 Agenda Item N 2 Teatro Lease Agreement

The City of Oxnard City Council discussed the lease agreement with Theatro De Las Americas, a nonprofit bilingual theater company located in downtown Oxnard. The city owns the building leased to Theatro, and the current lease terms include a nominal annual fee of $1 plus quarterly rent based on a percentage of gross revenues exceeding a threshold. Theatro has faced financial challenges, including net losses in 2024 and 2025, resulting in an outstanding unpaid rent balance of $15,690. The council considered a request for rent forgiveness for past due amounts and daily prorated rent forgiveness for February 2026. The agreement was modified to require Theatro to provide monthly activity reports on fundraising and operations. The lease term is three years with two one-year extension options, aiming to sustain community arts and preserve a dedicated arts venue in downtown Oxnard. The city anticipates a potential loss in rental revenue but supports the theater's role in the community.