Lachen Tara Apartments

240 Ocean Oaks Ln, Atascadero, California 93424

Contact Lachen Tara Apartments

Their latest addition to the Property management portfolio is this 29-unit permanently affordable apartment complex called “Lachen Tara” in Avila Beach. The site, completed in 2008, is located on the 200 block of Ocean Oaks Drive, on the corner of Laurel Lane and Ocean Oaks Drive.

Nearly 20 years since the original discovery of contamination at the site, families have moved in to the new units, just in time for the holidays. Apartments include eight studios, 18 one-bedroom, and three two-bedroom units from 450 to 880 square feet. Four units are reserved for farm workers and eight units are reserved for people with special needs.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	450	Call for Price
1 Bedroom (1/1)	615	Call for Price
2 Bedroom (2/1)	775	Call for Price

Eligibility for Lachen Tara Apartments

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Atascadero but actual income limits may differ for units at Lachen Tara Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$40,550	$46,350	$52,150	$57,900
Low Income (60%)	$48,660	$55,620	$62,580	$69,480

Lachen Tara Apartments Details

33 studio, one and two bedroom units.
Low-Income Housing Tax Credit (LIHTC)
HOME Investment Partnerships Program

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.