15 AAC 154.200. Purpose

(a) When adequate funding is not available from other sources and the Corporation determines there is a need for affordable housing, the multifamily affordable housing development fund provides grants to applicants meeting the requirement of AS 18.56.650 (a) for developing affordable multifamily housing, and other non-housing facilities that are incidental or appurtenant to the housing, for low-income households, including:

(1) purchase of a building site;

(2) site preparation;

(3) preparation of plans and specifications, including project feasibility studies;

(4) purchase of materials;

(5) construction; and

(6) rehabilitation, improvement, or conversion of an existing building for use as low-income housing.

(b) In 15 AAC 154.200 - 15 AAC 154.210, "multi-family housing" has the meaning provided in 15 AAC 151.950(d) .

History: Eff. 5/7/93, Register 130

Authority: AS 18.56.088

AS 18.56.650

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