On the drawings it's called a sail locker (port side cockpit locker) and it has plywood floor boards to keep things out of the bilge. This is a relatively wet place and was damaged, rotted and delaminated.
We've replaced it with okoume using the originals as templates. It was a good excuse to go buy some new power tools.
Home Depot should be on every sailor's shop first list. Oil based paint is oil based paint after all, whether or not it's for marine use. Add the ability to get a custom color match, why would you pay more?