The legislature finds and declares that (1) slum and blighted areas exist in localities throughout the state and they constitute a serious and growing menace, injurious and inimical to the public health, safety, morals, and welfare of the residents of the state; (2) the existence of these slum and blighted areas contributes substantially and increasingly […]
It is the intent of the legislature in AS 18.55.480 – 18.55.960 to take advantage of 42 U.S.C. 1441 – 1469c (Title I of the Housing Act of 1949 (P.L. 81-171; 63 Stat. 413)), as amended.
(a) A member of the board of directors or employee of the corporation may not voluntarily acquire an interest, direct or indirect, in a redevelopment project or in property included or planned by the corporation to be included in a redevelopment project, or in a contract or proposed contract in connection with a project. If […]
(a) The corporation may not transact business or exercise its powers under AS 18.55.480 – 18.55.960 in a municipality until the governing body approves by resolution the exercise in the municipality of the powers, functions, and duties of the corporation under AS 18.55.480 – 18.55.960. (b) The governing body of a municipality may not adopt […]
In addition to all powers previously vested in or granted to the corporation by any other law, the corporation has all the powers necessary or convenient to carry out and effectuate the purposes and provisions of AS 18.55.480 – 18.55.960, including the following powers: (1) to prepare or have prepared and to recommend redevelopment plans […]
(a) A neighborhood development project, as undertaken and administered by the corporation, shall consist of urban renewal project undertakings and activities in one or more urban renewal areas that are planned and carried out on the basis of annual increments in accordance with 42 U.S.C. 1469 – 1469c (secs. 131 – 134, Title I, Housing […]
(a) Except as provided in AS 18.55.520(11), the corporation may not acquire real property for a redevelopment project unless the governing body of the municipality has approved the redevelopment plan, as prescribed in (i) of this section. (b) The corporation may not prepare a redevelopment plan for a redevelopment project area unless the governing body […]
(a) The corporation may sell, lease, exchange, or otherwise transfer real property or any interest in real property in a redevelopment project area to a redeveloper for residential, recreational, commercial, industrial, or other uses, or for public use in accordance with the redevelopment plan, subject to those covenants, conditions, and restrictions it considers in the […]
(a) The corporation may (1) acquire by eminent domain real property that it considers necessary within the boundaries of the redevelopment project or for its purposes under AS 18.55.480 – 18.55.960 after the adoption by it of a resolution declaring that the acquisition of the real property described in the resolution is necessary for those […]
Upon a determination, by resolution, of the governing body of the municipality that the acquisition and development of undeveloped vacant land not within a slum or blighted area is essential to the proper clearance or redevelopment of a slum or blighted area or a necessary part of the general slum clearance program of the municipality, […]
(a) The corporation may (1) issue bonds and notes from time to time for any of the purposes of AS 18.55.480 – 18.55.960, including the payment of principal and interest upon advances for surveys and plans for redevelopment projects; (2) issue refunding bonds for the purpose of the payment or retirement or in exchange for […]
(a) In connection with the issuance of bonds or the incurring of obligations under leases, in order to secure the payment of the bonds or obligations, the corporation, in addition to its other powers, may (1) pledge all or a part of its gross or net rents, fees, or revenue from redevelopment projects to which […]
An obligee of the corporation may, in addition to all other rights that may be conferred on the obligee, subject only to contractual restrictions binding upon the obligee, (1) by mandamus, suit, action, or proceeding at law or in equity compel the corporation, the members of its board of directors, and its officers, agents, or […]
(a) The following persons may legally invest sinking funds, money, and other funds belonging to them or within their control in the investments listed in (b) of this section: (1) all public officers, municipal corporations, political subdivisions, and public bodies; (2) all banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings […]
In any contract for financial assistance with the federal government, the corporation may obligate itself to convey possession or title to the redevelopment project and land to the federal government, when the contract relates to the project and the land, upon the occurrence of a substantial default. This obligation is not a mortgage. The obligation […]
(a) All property held by the corporation for a purpose set out in AS 18.55.300 – 18.55.470 and in AS 18.55.480 – 18.55.960 is exempt from levy and sale by virtue of an execution, and an execution or other judicial process may not issue against it nor may judgment against it be a charge or […]
(a) For the purpose of aiding and cooperating in the planning, undertaking, or carrying out of a redevelopment project located within the area in which it is authorized to act, a public body may, upon terms, with or without consideration, as it determines, (1) dedicate, sell, convey, or lease any of its interest in a […]
An instrument executed by the corporation and purporting to convey a right, title, or interest in property under AS 18.55.480 – 18.55.960 is conclusive evidence of compliance with the provisions of AS 18.55.480 – 18.55.960 insofar as title or other interest of a bona fide purchaser, lessee, or transferee of the property is concerned.
Whenever the corporation exercises its rights, powers, and duties under AS 18.55.480 – 18.55.960 in the area adjacent to a municipality, the governing body of the municipality may prepare or have prepared general plans for the physical development of the area if the preparation of those plans is not otherwise authorized by law and approve […]
The governing body of a municipality, not authorized to create a planning commission with power to prepare a general plan for the redevelopment of the municipality, may prepare a general plan before a redevelopment project is initiated under AS 18.55.480 – 18.55.960.
