Sec. 18.56.855. Alaska energy efficiency revolving loan fund.
(a) The Alaska energy efficiency revolving loan fund is established in the corporation to carry out the purposes of this section. The revolving loan fund consists of money or assets appropriated or transferred to the corporation for the revolving loan fund, including money and assets deposited in the revolving loan fund by the corporation and […]
Sec. 18.56.650. Low cost and low income multiple family housing development fund and grants.
(a) There is created in the corporation a low cost and low income multiple family housing development fund. Subject to appropriation the corporation shall make grants to municipalities or public or private nonprofit corporations designated as tax exempt under 26 U.S.C. 501(c)(3) and (4) (Internal Revenue Code of 1954) for the purpose of developing low […]
Sec. 18.56.700. Senior housing office.
(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 […]
Sec. 18.56.710. Senior housing revolving fund.
(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 […]
Sec. 18.56.730. Conditions on loans.
(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 […]
Sec. 18.56.740. Fire insurance.
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.
Sec. 18.56.750. Loan origination and servicing.
(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 […]
Sec. 18.56.760. Appraisals.
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 […]
Sec. 18.56.770. Toll-free telephone number.
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.
Sec. 18.56.780. Contracting for services.
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.