City to Loan Property, Funds to Simi Valley Days Group
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Rousted from its last home by a housing development, the Simi Valley Days Organization got a new landlord Monday night as the City Council agreed to lend the annual fair a new site.
The City Council voted 4 to 0 to let Simi Valley Days set up shop this August at the corner of 1st Street and the Ronald Reagan Freeway, the site of a hoped-for regional mall. The rent is $1 a year.
The council also agreed to lend $100,000 to the fair organization to help pay for grading of the earth and installation of power, water and other utility lines to the hilly site. And the council agreed to grant Simi Valley Days $15,200 worth of water service, city permits and other fees.
The fair organization is to pay back the loan within 10 years.
In the off-season, the organization may be allowed to sublet the property to help repay the loan and cover event costs.
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