A massive housing and business development on the site of the Simi Valley Days fair is set to go before the Simi Valley City Council tonight for final approval of zoning changes.
The council’s approval would allow three developers to proceed with plans for building about 560 houses and apartments and a variety of businesses on more than 60 acres at Los Angeles Avenue and Madera Road.
The council will also vote on whether to extend a $700,000, five-year loan to Griffin Industries to help it build a 280-unit condominium project on 26.7 acres of the site. The measure would defer $50,000 in city and special district development fees until the loan comes due, said Diane Jones, director of the city’s Department of Environmental Services.
The developer expects to designate 70 three-bedroom units in the project as affordable housing, selling them for slightly more than $90,000 to lower income families. Jones said Griffin Industries is expected to apply soon for a permit to draw up development plans, which would then be reviewed by the Planning Commission and the council.