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In addition to the terms provided at 15 AAC 150.900, the following terms have the following meanings for purposes of this chapter:
(1) "economic life" means the estimated period over which any improvements on the property contribute to the value of the property;
(2) "family" means those individuals executing the mortgage note and deed of trust and their dependents who occupy the residence on a permanent basis;
(3) "household" means all persons, regardless of whether they are members of the family, who occupy the residence on a permanent basis as full- or part-time residents;
(4) "local governmental entity" means a borough or city incorporated under state law which has jurisdiction over the area in which the subject housing is located or is to be located; in the absence of a municipality incorporated under state law, "local government entity" also means the Native village government or corporation recognized by the people of the Native village in which the subject housing is located or is to be located;
(5) "mobile home" means manufactured housing with a certification label required by 24 C.F.R. Part 3282.362(c)(2)(C), or a certification label permitted by 24 C.F.R. Part 3282.18, and attesting that the mobile home is in conformance with federal standards for Zone III construction, as set out in 24 C.F.R. Part 3280, Subpart F;
(6) "nonconforming housing" means housing which exhibits one or more characteristics, with respect to design, construction practices, materials, foundation systems, utilities, and minimum space requirements, which are not common to the community in which the property is located and which would ordinarily preclude financing by private financial institutions;
(7) "renovation or improvement" means the repair, remodeling, rehabilitation, expansion, renovation, or improvement of the housing structure, on-site water and sewer installations, and other on-site utility installations acceptable to the Corporation;
(8) "resident of Alaska" means a person who maintains a primary place of residency in Alaska with the intention of continuing that residence indefinitely;
(9) "small community" means a community with a population of 6,500 or less that is not connected by road or rail to Anchorage or Fairbanks; or with a population of 1,600 or less that is connected by road or rail to Anchorage or Fairbanks and at least fifty statute miles outside of Anchorage or twenty-five statute miles outside of Fairbanks; in this paragraph "connected by road" does not include a connection by the Alaska Marine Highway system or roads outside the boundary of the State of Alaska;
(10) "very small community" means a community with a population of 1400 or less, not connected to Anchorage or Fairbanks by road or rails; in this paragraph "connected by road" does not include a connection by the Alaska Marine Highway system or roads outside the boundary of the State of Alaska; and
History: Eff. 5/7/93, Register 130; am 8/3/94, Register 132; am 4/2/97, Register 142; am 4/22/98, Register 146; am 9/16/98, Register 149; am 5/29/2002, Register 164; am 08/20/2003, Register 169
Authority: AS 18.55.998
Editor's note: The substance of 15 AAC 152.990 is derived from 19 AAC 80.900 and 19 AAC 82.900. The history note for 15 AAC 152.990 does not reflect the history of the sections under 19 AAC 80.900 and 19 AAC 82.900.
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Last modified 7/05/2006