Industrial Development Authority
AGENDA REPORT
Date: January 28, 2026
To: Honorable Chairman and Board of Directors
From: Greg Ramirez, Chief Executive Officer
Submitted by: Mark Uribe, Treasurer
Subject: Presentation of the 2025 Annual Report for the Industrial Development Authority
BACKGROUND
The Industrial Development Authority (IDA) was activated in 1996 for the purpose of providing a mechanism for the issuance of Industrial Development Revenue Bonds. The IDA is a public, corporate instrumentality of the State and was organized under the California Industrial Development Financing Act (being Title 10 of the California Government Code, commencing with Section 91500, as amended) in order to provide industry with an alternative method of financing the acquisition, construction, or rehabilitation of facilities which will increase employment opportunities or otherwise contribute to economic development”. The IDA has issued one bond in 1997 in order to support a project which converted the old Clairol Building on Flynn Road into a new use building by the Lander Company. The $6.5 million bond was purchased by Brown Brothers Harriman & Co. and was subsequently paid in full when the Lander Property was sold.
DISCUSSION
The IDA currently has no bonds outstanding however, it is necessary to continue to hold annual meetings per the Authority’s bylaws. The IDA provides the City a mechanism to issue bonds if the circumstances are favorable in the future.
This represents the annual report for the Industrial Development Authority of the City of Camarillo (IDA) for calendar year 2025.
FISCAL IMPACT
There is no budget impact as a result of this action.
Presentation of the 2025 Annual Report
January 28, 2026
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RECOMMENDATION
Receive and file.
ATTACHMENTS
None
REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None