Terraza de las Cortes

On September 18, 2012 the Housing Authority Board of Commissioners authorized negotiation of a Partnership Agreement to be returned for approval, between the Housing Authority and Las Cortes, Inc. for purpose of developing and operating a 64 unit multi-family affordable housing project to be know as Terraza de Las Cortes ("Project") on property currently owned by the Housing Authority.

At their November 27, 2012 meeting, City Council approved and authorized the Mayor to execute an Affordable Housing Predevelopment and Construction Loan Agreement with Terraza de las Cortes, L.P.  for the development of Terraza de las Cortes.  The Oxnard Housing Authority Board of Commissioners approved the Agreement of Limited Partnership of Terraza de las Cortes and authorized the Housing Director to execute the agreement.