(a) The corporation may use the housing assistance loan program created in AS 18.56.420 to make loans for the purchase, participation in the purchase, origination, development, or refinancing of multi-family housing in small communities.
(b) In this section,
(1) “development” means the construction of a new residence or the acquisition, repair, remodeling, rehabilitation, or expansion of an existing residence;
(2) “multi-family housing” means a multi-family residence containing two or more dwelling units that may be nonowner-occupied or owner-occupied.
Structure Alaska Statutes
Title 18. Health, Safety, Housing, Human Rights, and Public Defender
Chapter 56. Alaska Housing Finance Corporation
Article 2. Housing Assistance.
Sec. 18.56.400. Powers of corporation related to housing assistance.
Sec. 18.56.410. Alaska energy efficient home grant fund.
Sec. 18.56.420. Housing assistance loan program.
Sec. 18.56.430. Home ownership assistance fund.
Sec. 18.56.440. Limitations on use of housing assistance loan program.
Sec. 18.56.450. Operating loss reserve account.
Sec. 18.56.460. Security for loans.
Sec. 18.56.470. Interest on loans.
Sec. 18.56.490. Restricted title loss reserve account.
Sec. 18.56.500. Fire insurance.
Sec. 18.56.510. Loan origination and servicing.
Sec. 18.56.530. Energy audit exemption.
Sec. 18.56.540. Toll-free telephone number.
Sec. 18.56.550. Field offices; contract services; assistance to others.
Sec. 18.56.560. Demonstration projects and information.