Conejo Recreation & Park District StaffReport Resolution No. 060426-E Authorizing Site Lease and Lease Agreement 2026-06-04
District Plans Lease-Leaseback With MRCA For Fireworks Hill
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Description
Conejo Recreation & Park District proposes to execute a Site Lease and Lease Agreement with the Mountains Recreation and Conservation Authority to structure a lease-leaseback financing for the Fireworks Hill property, with lease payments matching approximately $15.15 million of debt service. MRCA will serve as a conduit lessor and will assign lease payment rights to the lender while the District secures long-term control of its headquarters and surrounding open space.
Contract Details
Contract Amount
Approximately $15,150,000 in lease-leaseback financing proceeds (total Fireworks Hill acquisition $30.55 million funded from multiple sources)
Vendor
MOUNTAINS RECREATION & CONSERVATION AUTHORITY MRCA
Agency
Conejo Recreation And Park District, CA
Contract Type
FACILITIES
Document Date
June 3, 2026
Contract Term
Approximately 20-year lease-leaseback term, final maturity July 1, 2046
Renewal Date
2046-07-01
Renewal Info
Lease-leaseback amortizes over approximately 20 years with provisions for prepayment aligned to lender term sheet; annual lease payment obligation subject to annual budget appropriation by the Board.
Issuing Agency
Conejo Recreation And Park District
Special District
Thousand Oaks, CA
More from Conejo Recreation And Park District
Conejo Recreation & Park District StaffReport Resolution No. 060426-E Authorizing Site Lease and Lease Agreement 2026-06-04
Conejo Recreation and Park District Resolution Approving Engineer's Report and Assessments for Landscape Maintenance District No. 92-1 2026-06-04
Conejo Recreation and Park District Resolution Approving Engineer's Report and Ordering Continuation of Assessments for Fiscal Year 2026-27 2026-06-04
Conejo Recreation & Park District Investment Report 2026-06-04
Conejo Recreation & Park District Investment Report 2026-06-04
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