Camarillo City Council
AGENDA REPORT
Date: May 27, 2026
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Bradley Calvert, Director of Community Development Subject: Camarillo Workforce Housing Down Payment Assistance Program – Update
BACKGROUND
On December 14, 2022, the City established the Camarillo Workforce Housing Down Payment Assistance Program (DAP). The DAP provides eligible first-time homebuyers with up to a $50,000 down payment assistance loan for the purchase of a home in Camarillo. The loan does not require monthly payments and accrues 3% simple interest.
One balloon payment for the loan and interest amount is due at the end of the fifteen- year term. This assistance reduces the amount of the loan needed from the primary mortgage lender and reduces the monthly cost of housing to the household.
The DAP provides priority to local Camarillo residents and employees that work in Camarillo. Additional priority is granted to low-income households and to Camarillo residents within three identified census tracts (54.03, 53.04, and 55.02) that have a high level of overcrowding, an unusually high-concentration of minorities, or a very high senior population in line with the Affirmatively Furthering Fair Housing Goals of the City’s Housing Element.
The City has received grant funds in advance totaling $782,232, which, combined with the accrued interest on the original grant funds, allowed for the issuance of sixteen $50,000 DAP loans. The City Council authorized the issuance of the final loan during their May 13, 2026, meeting. Thirteen of the sixteen loans have been finalized, with the remaining three projected to close by the end of the current fiscal year. The Camarillo Workforce Housing Down Payment Assistance Program is a revolving loan fund for City use in perpetuity.
DISCUSSION
The Camarillo Workforce Housing Down Payment Assistance Program was originally administered on behalf of the City by the Ventura County Community Development Corporation. The program was brought back under City administration, implementation,
DAP Update
May 27, 2026
3 2
4 3
and marketing in September of 2024, due to the expansion of staff capacity after a new housing position was created within the Department of Community Development.
Although multiple individuals were qualified, no DAP loans were issued by the consultant.
Since bringing the program under direct City administration, City staff have successfully re-marketed the DAP program, which led to the issuance of the thirteen DAP loans. The final three loans have been authorized for release by the City Council and are currently being processed by staff. Averaged across all sixteen loans, the purchase price for a home in the program is projected to be $465,000, pending the final three transactions closing as anticipated. For context, the current (May 2026) median sales price for all home sales in the City of Camarillo is $880,500. The stark difference between the two numbers can be largely attributed to the fact that nine of the sixteen loans will have been issued to buyers purchasing income-restricted (affordable) units.
Throughout the course of the program, staff reviewed a total of forty DAP applications.
Approved applicants included school district and public sector employees, hospital workers, young families, and single parents. Staff are currently working on identifying alternative sources of funding to continue the program.
FISCAL IMPACT
There is no budget impact as a result of this action.
CEQA DETERMINATIONS
City staff has determined, in accordance with Section 15061(b)(3) of the California Environmental Quality Act (CEQA) Guidelines, that the Camarillo Workforce Housing Downpayment Assistance Program Update is not subject to CEQA review because it can be seen with certainty that there is no possibility that the Camarillo Workforce Housing Downpayment Assistance Program Update may have a significant effect on the environment. The Camarillo Workforce Housing Downpayment Assistance Program Update is merely for informational and reporting purposes; it is a compilation of data that has no direct or significant effect on the environment.
RECOMMENDATION
1. Receive and file the Camarillo Workforce Housing Downpayment Assistance Program Update.
ATTACHMENTS
1. Downpayment Assistance Program Flyer
REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None