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Consider recommendations regarding HOME Funding for K St. Apartments, Lompoc area, Fourth District, as follows:
a) Approve the commitment of $245,000 in County HOME funding to the Lompoc Housing Assistance Corporation (LHAC) for the acquisition and development of the K St. Apartments in Lompoc;
b) Authorize Housing and Community Development to execute a Loan Agreement and a Regulatory Agreement with the Lompoc Housing Assistance Corporation (LHAC) for acquisition and development of the project, consistent with the terms and conditions detailed in the Board Letter dated November 25, 2003.
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