(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 lien upon its property. However, this subsection does not apply to or limit the right of an obligee to foreclose or otherwise enforce any mortgage of the corporation or to pursue remedies for the enforcement of a pledge or lien given by the corporation on its rents, fees, grants, or revenue.
(b) The 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 declared to be public property used for essential public and governmental purposes and the property is exempt from all taxes of the state or a political subdivision of the state. However, subject to (c) of this section, the corporation shall, from the time it acquires title to property in a redevelopment project until it sells, leases, or otherwise disposes of that property, make payment equal in amount and in lieu of taxes that would be assessed and paid to a political subdivision in which the property is situated if the property had not been acquired by the corporation. From the time the corporation sells, leases, or otherwise transfers the property, the obligation of the corporation to make payment in lieu of taxes shall cease and the property shall thereafter be taxable in the same manner as other property within the political subdivision, unless the property is exempt from taxation by law. The property sold, leased, or otherwise transferred by the corporation may be assessed for taxation on that part of the tax year during which it was not owned by the corporation, unless the property is exempt from taxation by law. Except for the payments required by this subsection, the power vested in the corporation to make payments in lieu of taxes under AS 18.55.250 or other law is not affected by this subsection.
(c) Property for which payments are required under (b) of this section is limited to land and valuable improvements on the land, including buildings located on the property on the assessment date.
(d) Payments for property under (b) of this section may not be required from the corporation unless the payments are eligible project costs under federal policy.
Structure Alaska Statutes
Title 18. Health, Safety, Housing, Human Rights, and Public Defender
Chapter 55. Housing, Public Buildings, Urban Renewal, and Regional Housing Authorities
Article 3. Slum Clearance and Redevelopment Act.
Sec. 18.55.480. Findings and declaration of necessity.
Sec. 18.55.490. Legislative intent.
Sec. 18.55.510. Finding of necessity by municipality.
Sec. 18.55.520. Powers of the corporation.
Sec. 18.55.525. Neighborhood development projects.
Sec. 18.55.530. Preparation and approval of redevelopment plans.
Sec. 18.55.540. Disposal of property in redevelopment project.
Sec. 18.55.550. Eminent domain.
Sec. 18.55.560. Acquisition and development of undeveloped vacant land.
Sec. 18.55.570. Issuance of bonds and notes.
Sec. 18.55.580. Power of corporation to provide additional security for bonds.
Sec. 18.55.590. Remedies of obligee.
Sec. 18.55.600. Bonds as legal investment.
Sec. 18.55.610. Conveyance to federal government on default.
Sec. 18.55.620. Property exempt from taxes and execution.
Sec. 18.55.630. Cooperation by public bodies.
Sec. 18.55.650. Title of purchaser of project property.
Sec. 18.55.660. Additional powers of governing body.
Sec. 18.55.670. Preparation of general plan by local governing body.
Sec. 18.55.680. Urban renewal projects; definition.
Sec. 18.55.690. Urban renewal plan; definition.
Sec. 18.55.700. Powers with respect to urban renewal.
Sec. 18.55.710. Public bodies authorized to assist in urban renewal projects.
Sec. 18.55.720. Corporation may delegate functions to municipalities and public bodies.
Sec. 18.55.730. Agreements for exercising powers and granting assistance.
Sec. 18.55.740. Workable program.
Sec. 18.55.750. Municipality may repair, etc., dwellings unfit for habitation.
Sec. 18.55.760. Ordinances relating to unfit dwellings.
Sec. 18.55.770. What ordinance must include.
Sec. 18.55.780. Petition or finding that dwelling is unfit and filing of complaint.
Sec. 18.55.790. Pleadings and hearing.
Sec. 18.55.800. Rules of evidence do not control in hearings before the corporation.
Sec. 18.55.810. Findings and order.
Sec. 18.55.820. Ordinance to fix percentage of cost as reasonable.
Sec. 18.55.830. Failure of owner to comply with order.
Sec. 18.55.840. Costs of repair, etc., are a lien.
Sec. 18.55.850. Disposition of material where dwelling is removed or demolished.
Sec. 18.55.870. Manner of serving parties in interest.
Sec. 18.55.880. Injunction to prevent corporation from proceeding.
Sec. 18.55.890. Remedies provided are exclusive.
Sec. 18.55.900. Ordinance may give corporation additional powers.
Sec. 18.55.910. Municipality to prepare estimate of costs of administration.
Sec. 18.55.920. AS 18.55.750 - 18.55.930 not a limitation on municipalities.
Sec. 18.55.930. Powers of a municipality to control use and occupancy of dwellings.
Sec. 18.55.932. Urban redevelopment or urban renewal in a disaster area.
Sec. 18.55.934. State aid for an urban redevelopment or urban renewal project in a disaster area.