2023
Annual Report
Building affordable housing & brighter futures since 1981

Mission Statement

Cabrillo Economic Development Corporation develops and manages service-enriched, inclusive residential communities, ensuring access to affordable, secure, quality housing that creates the foundation for our residents to grow and thrive.

The Vision

Cabrillo believes that every person has the right to decent, safe and affordable housing. As such, our values are grounded in the development of ownership and rental housing that provides the foundation for people to improve their lives.

We take great pride in delivering the highest standard of housing for those most lacking in opportunity. With public, private and community partners, we develop housing that positively impacts the community’s health, education, public safety, social services and economic development.

Message from the CEO

Dear Friends and Supporters,

I am pleased to present to you the 2023 Annual Report for Cabrillo Economic Development Corporation. This report encapsulates our collective efforts and accomplishments throughout the past year, highlighting the strides we have made in advancing our mission of providing comprehensive housing services and community economic development activities.

As the daughter and granddaughter of farmworkers, I have walked the paths many of our residents tread today. I intimately understand the challenges they face, the hardships they endure, and the dreams they cherish. At Cabrillo EDC we work together to offer hope—the hope of a brighter future, free from the perils of housing insecurity.

Throughout 2023, we remained committed to our service model, which encompasses building, managing, and creating community. We provided an array of services, including ESL classes, homework clubs, potlucks, and mobile library services, all aimed at fostering a sense of belonging and empowerment within our communities.

Our real estate development initiatives saw significant progress with the beginning of construction of Dolores Huerta Gardens, funding secured for Village Senior Apartments in Buellton, and completed renovations at the Santa Paulan Apartments, which is a senior property. These developments will not only provide more affordable housing but will also address the acute need for affordable housing for veterans, seniors, farmworkers, and families. The outcomes contribute positively to the overall health, education, public safety, social services, and economic development in the communities we serve.

Our partnerships with organizations such as Cal State University Channel Islands, United Way, and Food Share, among many others, have been instrumental in furthering our mission. We are deeply grateful to our funders, sponsors, and donors whose support has enabled us to continue this vital work in the community.

As we look ahead, our strategic plan will continue to address goals to increase and preserve the affordable housing supply, and further our community-building efforts through initiatives such as expanding our tutorial programs and expanding the Little Libraries at Cabrillo EDC properties.

In closing, I extend my heartfelt appreciation to our dedicated staff whose tireless efforts and unwavering commitment drive our mission forward. Together, we remain steadfast in our pursuit of building brighter futures for all.

Thank you for your continued support of the Cabrillo Economic Development Corporation. Together, we can make a lasting difference in the lives of those most in need.

Warmest regards y Muchísimas Gracias,

Margarita H. de Escontrias

Chief Executive Officer
Cabrillo Economic Development Corporation

Impact

189,311

Pounds of food was distributed at Cabrillo properties and through partner food pantries. The average family of 4 consumes 888 pounds of food/year. That equals feeding 630 people for the entire year (Estimated Market Value $573,711)

Began construction on

Dolores Huerta Gardens

73

children participated in the Kids’ Farmers Market program, learning about healthy eating and food choices.

550

volunteer hours in tutoring and homework clubs

$4,700

in scholarships were awarded from the Rodney Fernandez Leadership Fund to 3 CEDC resident scholars.

505 Children

and adults utilized the Ventura County Mobile Library at 8 Cabrillo EDC properties.

2023 Revenue

Contributions
$214,012.08
5%
Government Contracts
$357,055.51
8%
Developer Fees (Multi-Family Devs)
$350,000.00
8%
Community Services Fees
$214,385.47
5%
Partnership Management Fees
$375,039.95
8%
Property Management Fees
$1,403,840.79
32%
Rental Income - Owned Properties
$1,169,623.33
27%
Interest & Investment Income
$67,522.13
1%
Other Income
$247,004.82
6%

2023 Expenses

Housing development
$550,504
14%
Community Services
$141,986
4%
Asset Management
$158,635
4%
Property management
$1,032,165
26%
Management and General
$1,269,744
32%
Fundraising - Capital Campaigns
$160,660
4%
Rental Operations
$605,993
16%

2023 Balance Sheet

Meet some of the wonderful Cabrillo EDC Board Members and hear what they have to say about Cabrillo.
Mayra Ramirez
CEDC Board Member
Maria Perez
CEDC Board Member
Year In Review
A look back to 2023
Real Estate
Development

Staff Spotlight

Meet Cristina Heredia, Resident Manager at Villa Cesar Chavez

In the heart of the community of Oxnard, California, lies Villa Cesar Chavez, a symbol of hope and progress for low-income and retired farm workers and their families. At the heart of this vibrant and close-knit community stands a remarkable individual, Cristina, the resident manager who embodies compassion, dedication, and unwavering support for the residents of Villa Cesar Chavez. Today, we want to spotlight Cristina, her inspiring journey, and her profound impact on the lives of those she serves.

Derrick Wada: A Driving Force in Affordable Housing Development

In the world of affordable housing development, individuals like Derrick Wada stand out for their commitment to progress and change. His dedication and expertise in the field make Derrick a pivotal figure within Cabrillo Economic Development Corporation (CEDC), bringing with him a wealth of experience and a deep-rooted passion for creating sustainable housing solutions.

Celebrating Our Staff
In the pages of this annual report, we proudly showcase the remarkable achievements made possible by the dedicated Cabrillo EDC team. Their commitment to our mission shines through in every success story shared here.

With deep roots in our community, our staff exemplify compassion, empathy, and hope. Many have personal ties to farmworker families, understanding firsthand the importance of Cabrillo EDC's housing and programs.

We extend our sincerest gratitude to the staff for their invaluable contributions. As a team, we continue to strive for excellence in serving our residents. Their tireless efforts and selfless dedication propel us toward our shared goal of building brighter futures for all.
2023 News & Press Releases
Dolores Huerta Gardens Construction Begins:

Affordable Housing Project in Oxnard Honors Civil Rights Leader

Press Release from OCTOBER 12TH, 2023

Civil rights icon Dolores Huerta was honored during a groundbreaking ceremony for a new 58-unit affordable housing complex for farmworkers and formerly homeless veterans in Oxnard that will be named in her honor.

The race to build affordable housing for farmworkers in Oxnard
Press Release from OCTOBER 5TH, 2023

OXNARD — Even when her husband is at work, Blanca Quezada makes sure his plants are being nurtured. “He likes flowers very much, you can tell,” she said in Spanish. Quezada is married to a farmworker and, despite the long hours and grueling work, one of the biggest challenges her family faced years ago, was finding housing in Oxnard.

Six Ways Cabrillo Economic Development Corporation Makes a Difference
Press Release from JUNE 30TH, 2023

Developing Affordable Housing: Cabrillo EDC actively develops affordable housing communities tailored to the needs of low-income individuals, families, seniors, farm workers and veterans. Creating safe and affordable housing opportunities that address the housing crisis and provide homes and community for those who would otherwise struggle to find affordable homes.

Cabrillo Economic Development Corporation: The Solution We Need
Press Release from AUGUST 28TH, 2023

Cabrillo Economic Development Corporation has been building affordable housing for over forty years. Now, more than ever, Ventura and Santa Barbara counties are both in dire need of affordable housing due to various factors. The cost of living in these regions has skyrocketed in recent years, driven by the high housing demand from residents and tourists attracted to the beautiful coastal areas.

Celebrating the Success Stories of Rodney Fernandez Leadership Fund Scholars 2020-2022
Press Release from AUGUST 21sT, 2023

At Cabrillo EDC, we strongly believe in the transformative power of education. We recognize that financial limitations can impede students from accessing a top-notch education. That’s why we proudly offer a solution in the form of the Rodney Fernandez Leadership Fund. Through this scholarship fund, we have provided crucial support to numerous outstanding students who would have otherwise faced significant challenges paying for their education.

Building Community
2023 Board of Directors
Aiza Galdo, President
Capital One, Community Finance
Ada R. Cordero-Sacks, Vice President
Law Offices of Ada R. Cordero-Sacks
Jessica Cook, Treasurer
Pacific Western Bank
Victor Rodriguez, Secretary
Puretec Industrial Water
Cesar Hernandez
Center for Community for Change
Alfredo Martinez
Community Representative, Oxnard
Naomi Ontiveros
Community Representative, Oxnard
Maria Perez
Community Representative, Ventura
Mayra Ramirez
Community Representative, Oxnard
David Sabedra
President – Emeritus
Executive Team
Margarita De EscontriasChief Executive OfficerVictoria BradyChief Financial OfficerDenise BickerstaffDirector of Business Development & AdministrationDerrick WadaDirector of Real Estate Development
Thank You to Cabrillo EDC Donors
Your dedication to Cabrillo EDC residents and community has been invaluable, thank you! You have offered opportunities and hope where there was none before.

Cabrillo EDC’s impactful programs and services in 2023, including distributing 54,508 lbs. of food, hosting Health, Wellness & Safety workshops, and conducting educational workshops, were made possible by your contributions.

Furthermore, your generosity enabled us to award three academic scholarships last year, empowering community residents to pursue their goals. Thank you for your gift of hope and for fostering enduring positive change in our community.
Be a Housing Hero
Do you believe everyone deserves safe, affordable housing? Do you recognize housing as a crucial resource that empowers families and individuals to thrive? Do you believe stable housing equals hope? 

If so, please make a tax-deductible donation to Cabrillo EDC. Together, we will make a profound impact on the lives of low-income farmworkers, seniors, disabled individuals, and families residing in Ventura and Santa Barbara Counties. Donate today and be a driving force behind the transformation of lives in Ventura and Santa Barbara Counties. Together, we can build a brighter, more hopeful tomorrow.

Donate to CEDC to support Farmworker families and our greater community.
Partnerships
CSU Channel Islands
California Coalition for Rural Housing
California Housing Partnership Corporation
Central Coast Alliance United for A Sustainable Economy (CAUSE)
Child Development Resources
Community Action Ventura County
El Concilio Family Services
El Consulado de Mexico de Oxnard
Fillmore School District
FOOD Share, Inc.
Greater Los Angeles Area
House Farmworker!
Independent Living Resource Center (ILRC)
Interface Children and Family Services
Laubach Literacy of Ventura County, Inc.
National Association of Latino Community Builders (NALCAB)
NeighborWorks America
Tri-County Greater Los Angeles Agency on Deafness (Tri-County GLAAD)
Tri-Counties Regional Center
2023 Funders
County of Ventura

California Department of Housing and
Community Development

NeighborWorks America

First Citizens Bank

U.S. Bank

Wells Fargo Foundation
Our 2023 Sponsors
Gold Hammer Sponsor
Pacific Western Bank
Platinum Hammer Sponsors
Port of Hueneme
MJM Communications
Goldfarb and Lipman
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