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- Alaska Statutes.
- Title 18. Health, Safety, and Housing
- Chapter 55. Housing, Public Buildings, Urban Renewal, and Regional Housing Authorities
- Section 997. Residential Loans.
previous: Section 996
. Creation of Authorities.
next: Section 998
. Supplemental Housing Development Grants.
AS 18.55.997. Residential Loans.
- (a) In addition to the powers authorized to a regional housing authority under AS 18.55.996
, a regional housing authority may, in accordance with procedures and policies adopted and approved by the Alaska
Housing Finance Corporation, make loans for the purchase or development of residential housing in rural areas of the
state, other than in an area where the corporation has a loan office. A loan shall be secured by collateral in an
amount acceptable to the corporation. The rate of interest on a loan authorized by this section may not exceed the
interest rate on a loan originated or purchased under AS 18.56.400 - 18.56.600.
- (b) In this section,
- (1) "development" means the construction of a new residence or the repair, remodeling, rehabilitation, or expansion of an
- (2) "rural" has the meaning given the term "small community" in AS 18.56.600.
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