Community Services, Public Safety, Housing & Economic Development - 1\13/2026 - Agenda Item D2

The City of Oxnard's Community Services, Public Safety, Housing & Economic Development committee discussed the lease agreement with Theatro de lasicas, a nonprofit bilingual theater company. Theatro has faced financial challenges, including losses in 2024 and 2025, resulting in an outstanding unpaid rent balance of $15,690. The proposed new lease includes a three-year initial term with two one-year extension options, an annual lease fee of $1, forgiveness of past due rent, and a daily prorated rental forgiveness for February 2026. The city anticipates rental revenue of approximately $35,640 annually during the lease term but will incur a loss of past due rent and some rental forgiveness. The arrangement ensures the theater remains in the city-owned building, maintaining occupancy and reducing maintenance costs for the city. The committee recommended authorizing the mayor to execute the lease agreement under these terms.