A long-awaited plan to convert the former Coast Guard complex in Point Reyes Station into affordable homes took a step forward last month with the award of $11.5 million in state funding. The grant, from the Joe Serna Jr. Farmworker Housing Program, will help finance a $55 million redevelopment led by the Community Land Trust Association of West Marin and Eden Housing. Twenty-five of the 54 planned units will be reserved for farmworker families, as required by the program. Eligible households must earn at least half their income from agricultural work or must have done so before retirement or disability. Marin County purchased the 33.5-acre property from the federal government in 2018, three years after it was decommissioned. But construction has been stalled ever since, hampered by regulatory hurdles, the lack of a wastewater system, the high cost of renovation and the long process of securing financing. With local and state funding now totaling about $25 million, CLAM and Eden are preparing to apply for federal Low-Income Housing Tax Credits, which could cover more than half of the project’s expected cost. That application period opens in February, with awards expected in summer, said Tom McCafferty, the land trust’s director of properties. “This is huge for us,” Mr. McCafferty said. “It’s just one final application between us and breaking ground.”