1 Item 10A
City Council Meeting
January 13, 2026
Purchase & Sale Agreement &
Development Agreement
Sale of 401/403
Hillcrest Drive
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1/13/20263
•March 20, 2025 – CRPD Board expressed interest in acquiring the site for the permanent home for its headquarters and Hillcrest Center for the Arts•May 20, 2025 – City Council authorized City Manager to explore terms of disposition of 401/403 Hillcrest to CRPD•Summer 2025 – Both agencies conducted independent appraisals of the property.•October 3, 2025 – Staff from both agencies reached tentative agreement on sale.•December 2, 2025 – City Council declared the property exempt surplus land. Recent Actions43 4 3
1/13/2026
•As term of sale, CRPD requested that existing land use designations in SP-17 be preserved through a Development Agreement. (No project is being proposed on the site).•Proposed DA preserves SP-17 land use designations for a period of 30 years.•Preserves value of property in the event CRPD should need to dispose of site, in part or in whole.•Allows CRPD to borrow against value of property to acquire site.Proposed Development Agreement5 Existing Land Use Designations for SP-17 Parcels6Land UseAcreageStreet AddressAPNParks, Golf Courses, Open Space26.99525-0-060-125Commercial Town8.86525-0-053-115Parks, Golf Courses, Open Space3.50525-0-053-175Parks, Golf Courses, Open Space5.00525-0-060-135Commercial Town2.11525-0-053-195Commercial Town5.52403 W. Hillcrest Dr525-0-060-095M-U/ Parks, Golf Courses, Open Space6.40525-0-060-115Commercial Town3.29401 W. Hillcrest Dr525-0-060-08561.67Total5 6 4
1/13/2026
•Conveys property to CRPD for sale price of $30.4 Million•Establishes six-month escrow through July 13, 2026 or earlier.•Requires the City to complete:•Approval of DAGR-2025-7004 (current action)•Confirmation from State HCD on Surplus Lands Exemption•ALTA survey of property•Title insuranceTerms of Purchase & Sale Agreement7
1.Approve Purchase and Sale Agreement (PSA) related to the sale of 401/403 West Hillcrest properties to Conejo Recreation and Park District.2.Authorize the City Manager, or designee, to execute all documents necessary to effectuate the sale of 401/403 West Hillcrest properties to CRPD.3.Read ordinance in title only, waive further reading, and if no objection, introduce ordinance to approve DAGR-2025-70004.4.Authorize budget appropriation and expenditure in the amount of $175,000 in FY 2025-26 for consultant services related to American Land Title Association (ALTA) survey and title insurance.5.Authorize budget appropriation in the amount of $30,400,000 in FY 2026-27 for revenue from the sale of property.6.Find that the following actions are exempt from CEQA.Recommendation7 8 5
1/13/2026
Q & A
Existing Land Use Designations for SP-17 Parcels10
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•Land Use Element•Goal LU-1: Preserves existing neighborhoods & provides opportunities for targeted infill projects in strategic locations to enhance the quality of life, preserve the natural environment, and ensure the long-term fiscal viability of Thousand Oaks.•Policy 1.1 Overall City Structure - Establish a clearly defined urban pattern of development and open space by maintaining & expanding the open space network & natural areas around the City.•Goal LU-2: Preserve and enhance existing neighborhoods throughout the City.•Goal LU-12: Promote healthy living for all residents of Thousand Oaks.•Policy 12.12 Parks and Open Space Areas – Encourage the creation, maintenance, & enhancement of park & open space facilities that provide physical, mental, & social benefits for all ages.•Parks and Open Space Element•Goal POS-1: Preserve open space lands for future generations of Thousand Oaks residents.•Goal POS-6: Create and maintain beautiful and accessible parks and recreational facilities that meet the needs of all residents of Thousand Oaks.General Plan 2045 Goals & Policies (abbreviated)11 11