Countywide : Escrow Closed on Schools Office Site

The Ventura County superintendent of schools office has closed escrow on a Camarillo office building that it purchased for $1.8 million and plans to use as its new headquarters.

Robert Smith, business manager for the superintendent’s office, said escrow was closed on the building on Jan. 15.

Plans call for the superintendent’s office, now located in downtown Ventura, to relocate in September.

Smith said $5 million in certificates of participation were sold to finance the purchase of the building and to pay for a new $2.8-million state-of-the-art computer system.

The remaining $400,000 will be used to pay off interest on the certificates, which are similar to bonds but are not financed by a property tax increase.

The superintendent’s office is responsible for issuing checks to the county’s 16,000 school employees and for monitoring the budgets of the area’s 20 school districts. The office, also manages several school sites and various education programs.

The superintendent’s office now pays about $100,000 a year to lease office space that has no parking facilities and is badly needs renovation, officials said.