Heat a large skillet with oil over medium heat.
Add the onion and cook until translucent, about 2 minutes.
Add the garlic and cook until fragrant, another minute.
Add the ground beef. Break the beef up with a wooden spoon while cooking. Cook the ground beef fully, until browned and no longer pink.
Add the chili powder, cumin, salt and dried oregano and stir. Let cook another 2 minutes. Set aside.
Meanwhile, in a large pot of boiling salted water, cook pasta according to package instructions; drain well. Drizzle with a teaspoon of olive oil, stir and set aside.
Preheat oven to 400 and lightly oil an 18 x 13-inch sheet pan or coat with nonstick spray.
Melt butter in a large saucepan over medium high heat.
Whisk in flour and paprika until lightly browned, about 1 minute. Gradually whisk in milk and heavy cream until slightly thickened, about 4 -5 minutes. If the mixture is too thick, add more milk as needed.
Remove from heat. Add cheddar cheese and stir until melted. Add in the pasta and ground meat mixture and stir to coat wtih cheese sauce.
Spread pasta mixture into the prepared sheet pan; sprinkle with Monterey jack cheese and panko.
Place into oven and bake until golden brown and bubbly, about 12-15 minutes. Serve immediately.
