City Lets Insurer Lease Plaza Offices

It took a long time, but Thousand Oaks has finally found a tenant for the remaining portion of the Civic Arts Plaza’s second floor.

City Council members voted unanimously Tuesday to approve a five-year lease for L.T.C. Inc., a Seattle-based insurance company, for general office use. The company, which is expected to move in by September, will pay Thousand Oaks $48,396 per year for 2,180 square feet in the northwest corner of the Civic Arts Plaza.

The city will spend about $105,000 to prepare the location for the company. Afterward, the city and L.T.C. will determine how much the company should contribute.