CAMARILLO : City Backs Financing for Interchange

Hoping to ease traffic on the city’s east side, the Camarillo City Council has given its engineering staff tentative approval to move forward with a plan to build a $7.9-million interchange at Flynn Road and the Ventura Freeway.

The council gave the go-ahead last week after being briefed on a plan to create a special district.

If the district is approved at a meeting this summer, 208 property owners would be charged varying assessments to repay investors’ principal and interest from the sale of city-issued municipal bonds.

The bonds, to be offered over a 20-year period, will be used to pay for the project, according to Dan Greeley, director of engineering services.

Greeley said the exact assessments are unknown because the California Department of Transportation is considering if nearby underground utility lines will have to be relocated and because the terms of the bond sales won’t be known until the offering.

The proposed district is bordered by Lewis Road to the west, the Ventura Freeway to the south, Upland Road to the north and Calleguas Creek and Adolfo Road to the east.

The city plans to hold an informal meeting with the affected property owners. The majority of the parcels are zoned for industrial use or light manufacturing.

Following at least two public hearings on the proposed assessment district and final council approval, construction could begin in November, 1996, Greeley said.