Work on Ex-City Hall to Cost $1.86 Million
Sprucing up part of the former Thousand Oaks City Hall complex for the National Park Service is expected to cost taxpayers about $1.86 million--almost as much as the city will receive from leasing the property.
The City Council today is expected to consider a construction budget to fix up the south building of the dilapidated site at 401 Hillcrest Drive that will be used by the park service as headquarters for the Santa Monica Mountains National Recreation Area.
To prepare the building for occupancy, city officials are recommending that the City Council borrow the $1.86 million from Thousand Oaks’ general fund reserves.
The money would be paid back from the park service’s lease payments, which will total $411,840 a year for five years.
City officials had previously estimated that it would cost $1.2 million to upgrade the building.
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