800-900 Blocks of West Apricot and Walnut Avenue, Lompoc, CA
Renovation of Lompoc Terrace was completed in the fall of 2014. Lompoc Terrace is a 40-unit complex with 1, 2, 3, and 4 bedroom units. This income restricted development offers amenities including a community room, off street parking, tot lot and adjacent leasing office.
Unit amenities include carpet/tile flooring, solid surface countertops, blinds, in unit laundry hook ups and a backyard. Kitchen appliances include a range, refrigerator, and garbage disposal.
In early 2012 the United States Department of Urban Development (HUD) invited housing authorities throughout the country to participate in a demonstration program entitled the Rental Assistance Demonstration Program (RAD). Under this initiative, housing authorities would be able to convert Public Housing subsidies to Section 8 Project Based subsidies on an individual development basis, so that these developments could borrow funds for renovations, accumulate reserves and otherwise support themselves in the same manner as other subsidized rental housing. Lompoc Terrace is part of RAD.
This property was awarded 9% Federal tax credits in September 2013, which funded the majority of the renovation.