The Oxnard City Council tonight will discuss the financing of a $7.5-million parking structure -- a crucial element of an ambitious plan to redevelop downtown.
The price is nearly double last year's estimates, but that was for a smaller structure, officials said.
The proposed four-story, 500-space garage would replace an original plan to build a three-story, 350-space structure, said Matthew Winegar, the city's development services director.
The Planning Commission unanimously approved the project on Thursday, Winegar said.
The parking structure is only one component of a vast project to develop the moribund downtown.
Construction of the parking garage will coincide with the opening of a $12-million movie theater in 2004. In a deal reached with developers, the city agreed to have a parking facility built by the time the theater opens.
In addition to the theater, which will be run by San Carlos Cinemas, the complex between A and B streets is projected to later include stores, offices and restaurants under an International Marketplace theme.
The parking facility probably would be financed through revenue bonds or issuance of bond-like certificates, officials said. The council will consider financing options at its 7 p.m. meeting today.