Sec. 45.98.015. Special account established.
(a) There is established as a special account within the historical district revolving loan fund the foreclosure expense account. This account is established as a reserve from fund equity. (b) The commissioner of commerce, community, and economic development may expend money credited to the foreclosure expense account when necessary to protect the state’s security interest […]
Sec. 45.98.020. Historical district loans.
Upon endorsement and plan approval by a local historical district commission established under AS 29.55.010 or former AS 29.48.108 and the recommendation of a majority of the members of the Alaska Historical Commission, the Department of Commerce, Community, and Economic Development may make loans to a person, firm, business, or municipality subject to applicable laws […]
Sec. 45.98.030. Powers of the department.
For purposes of administering this chapter, the Department of Commerce, Community, and Economic Development may (1) prescribe the form and procedure for submitting loan applications under this chapter; (2) designate agents and delegate powers to them as is necessary; (3) in consultation with the Alaska Historical Commission, adopt regulations necessary to carry out its functions, […]
Sec. 45.98.040. Limitations on loans.
Loans made under this chapter are subject to the following limitations: (1) state participation in all loans in the aggregate, for any one historical district qualifying under this chapter may not exceed $1,500,000; (2) state participation in a loan for the restoration, improvement, rehabilitation, or maintenance of any one building or structure qualifying under this […]
Sec. 45.98.050. Sale or transfer of mortgages and notes.
(a) The commissioner of commerce, community, and economic development or a designee of the commissioner may sell or transfer at par value or at a premium or discount to any bank or other private purchaser for cash or other consideration the mortgages and notes held by the Department of Commerce, Community, and Economic Development as […]
Sec. 45.98.055. Disposal of property acquired by default or foreclosure.
The Department of Commerce, Community, and Economic Development shall dispose of property acquired through default or foreclosure of a loan made under this chapter. Disposal shall be made in a manner that serves the best interests of the state, and may include the amortization of payments over a period of years.
Sec. 45.98.060. Penalty provision.
After a project for which a loan is granted is commenced, if the Department of Commerce, Community, and Economic Development or a local historical district commission, in consultation with the Alaska Historical Commission, determines that the project is inconsistent with the guidelines or stipulations for construction, or otherwise fails to conform to the requirements of […]
Sec. 45.98.070. Short title.
This chapter may be cited as the Historical District Loan Act.
Sec. 45.88.110. Special account established.
(a) There is established as a special account within the residential energy conservation fund the foreclosure expense account. This account is established as a reserve from fund equity. (b) The commissioner may expend money credited to the foreclosure expense account when necessary to protect the state’s security interest in collateral on loans made under AS […]
Sec. 45.88.120. Loans.
(a) The department may make loans for the purchase, construction, and installation of an energy conservation improvement in a residential building. (b) A loan for the purchase, construction, and installation of an energy conservation improvement under AS 45.88.100 – 45.88.190 may not exceed the lesser of (1) an amount, as determined by an energy audit, […]