(a) There is established in the corporation a senior housing office. The office shall promote a comprehensive response to the needs of senior citizens for adequate, accessible, secure, and affordable housing in the state. In order to fulfill this purpose, the office may (1) study the needs of senior citizens in the state for housing […]
(a) The senior housing revolving fund is established. The revolving fund consists of appropriations made to it by the legislature, the proceeds of bonds sold under AS 18.56.790, repayments of principal and interest on loans made or purchased from assets of the fund, and money or other assets transferred to the revolving fund by the […]
(a) The corporation shall adopt regulations under AS 18.56.088(a) and (b) establishing acceptable security for loans originated or purchased in whole or in part under AS 18.56.700 – 18.56.799. (b) The corporation (1) may condition a loan under AS 18.56.700 – 18.56.799 on an agreement by the borrower to maintain the financed project as senior […]
Before purchasing or participating in the purchase of a senior housing mortgage loan, the corporation shall require the borrower to agree to purchase and maintain fire insurance for the real property for which the loan is made in an amount not less than the outstanding principal balance of the loan.
(a) Before purchasing or participating in the purchase of a senior housing loan, the corporation shall enter into a loan servicing agreement with the private financial institution from which the loan is to be purchased. (b) The corporation may execute service agreements with private lending institutions or with regional Native housing authorities established under AS […]
Before originating or purchasing or participating in the purchase of a senior housing mortgage loan, the corporation may have or may require the borrower to have an appraisal made of the fair market value of the real property, including structures on the real property, for which the loan is made. In conducting an appraisal under […]
The corporation shall arrange for and maintain a toll-free telephone number for senior housing purposes so that private financial institutions and their borrowers may contact the office from any location in the state by telephone without a toll charge.
The corporation may contract for the services of persons who will assist the office in performing its duties under AS 18.56.700 – 18.56.799.
(a) Under the procedures of this chapter, the corporation may issue bonds in a total amount not exceeding $30,000,000 to fund senior housing loans made under AS 18.56.700 – 18.56.799. (b) [Repealed, § 7 ch 84 SLA 1998.] (c) [Repealed, § 7 ch 84 SLA 1998.] (d) [Repealed, § 8 ch 84 SLA 1998.] (e) […]
For purposes of implementing AS 18.56.700 – 18.56.799, the corporation shall, under AS 18.56.088, establish by regulation the age requirement for occupants of senior housing, which may not be less than 55 years of age.
In AS 18.56.700 – 18.56.799, (1) “office” means the senior housing office established under AS 18.56.700; (2) “senior housing” (A) means construction or improvement undertaken primarily to provide dwelling accommodations for older individuals, including conventional housing, housing for frail elderly, group homes, congregate housing, residential horizontal property regimes organized under AS 34.07, residential cooperatives organized […]
