THOUSAND OAKS : Agency May Finance New School Facilities

Thousand Oaks city and school officials will meet today to consider plans for the city’s redevelopment agency to finance a small theater at Westlake High School and increase its share of the cost of Westlake High School stadium.

Officials have been discussing plans for a theater at the school for several years but are still looking for ways to fund the $2.3-million facility. A theater costing the same amount at Newbury Park High School would be paid for by the school district, said Assistant Supt. Sarah Hart.

The theaters would be used by the schools’ drama departments and community theater troupes, Hart said.

Under an amended agreement to redevelop Thousand Oaks Boulevard, the redevelopment agency also would add $750,000 to the $100,000 it has committed to help build a stadium with athletic fields at Westlake High. The district will pay $250,000 and boosters plan to raise the remaining $150,000, Hart said.

In the near future, the city wants to extend the life of the redevelopment agreement it has with the Conejo Valley school and park districts and Ventura County, said Paul Farr, the city’s redevelopment associate.

The agreement allows Thousand Oaks to funnel into capital improvement projects the tax increment gained as property values rise in the area of Thousand Oaks Boulevard from the Los Angeles County line to Marin Street, Farr said.

In exchange for giving up its portion of increased property tax revenues, the school district receives money back to pay for new facilities, Farr said.

The meeting begins at 4 p.m. at Thousand Oaks City Hall.