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Bakersfield Neighborhood Celebrates Grand Re-Opening of Pioneer Village Apartments
$6.7 Million in Renovations Brightens Community for 85 Families; Acquisition Preserves
Affordability for 55 Years

BAKERSFIELD, Calif., June 7, 2012 — Today, officials from the California Tax Credit Allocation Committee joined the community and executives of Preservation Partners Development and LINC Housing to celebrate the acquisition and grand re-opening of Pioneer Village in Bakersfield.

Featuring 50 two- and 35 three-bedroom apartments, Pioneer Village serves working families earning 30 to 50 percent of the area median income. The renovation includes the addition of a playground and an all-new community building with a computer learning lab, offices and community space for the residents to enjoy. Other improvements include energy efficient lighting upgrades, improved accessibility with curb ramps and sidewalk repairs, new insulation and roofing, upgraded windows and doors, and fresh paint throughout. Each apartment also got a facelift with major kitchen and bathroom renovations including new cabinets and appliances, as well as new carpet and blinds. In addition, free hi-speed Internet is now available for all residents. Residents will also benefit from Cornucopia Services that provides social events, a staffed after-school program, as well as collaborates with donors and local food and utility providers to improve financial and physical quality of life.

The $12.4 million in financing for the acquisition and renovation came from two main sources — the California Tax Credit Allocation Committee (CTCAC) and Enterprise Community Partners. Both entities worked together to provide nearly $7.5 million in funding that came from a last-minute 1602 grant from CTCAC — an extraordinary feat given the tight timeline and related obstacles. This acquisition preserved the property as affordable housing for another 55 years. Other partners on the project include architects, Ground Floor Design, and general contractor, ICON Builders.