The City has a strong Redevelopment Agency that offers financial
incentives for projects located in the Old Town Lompoc Redevelopment
Project Area. RDA maps are available on the city website
or at City Hall. During the 2007-2008 fiscal year, Lompoc Redevelopment
Agency (LRA) allocated $400,000 for the Seismic Retrofit
Program, $275,000 for Old Town Development Projects, $450,000
for the Commercial Facade Improvement Loan Program, $500,000
for the Commercial Rehabilitation Incentive Program and
$1,200,000 for the Housing Set-Aside Funds, as well as $1,135,000
in CalHFA funding for multi-family affordable housing acquisition
and rehabilitation projects.