Made available by
Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.
You can also go to The Alaska Legal Resource Center or search the entire websitesearch.
(a) Senior citizen housing is housing where the household consists exclusively of:
(1) two or more individuals who are related to each other at least one of whom is 60 years of age or older;
(2) the surviving spouse of an individual who (a) was at least 60 years of age or older at the time of his or her death and (b) was living in the senior housing unit with the surviving spouse at the time of his or her death;
(3) an individual who is 60 years of age or older, or
(4) an individual or individuals described in (1), (2) or (3) of this paragraph and others, regardless of their ages, who are essential to the care or well being of the individual or individuals; or
(5) individuals who meet the eligibility requirements of a federal senior housing program that provides financing for the project so long as at least seventy percent of the units in the project are occupied exclusively by individuals who satisfy the requirements of (1), (2), (3) or (4) of this paragraph.
(b) In the event a senior housing facility is experiencing or anticipates experiencing economic distress the minimum age may be lowered to 55 for an interval of time as determined by the Corporation. A request under this provision must:
(1) be in writing and specifically describe the economic distress requiring the modification;
(2) be accompanied by specific financial and market information supporting the borrower's request;
(3) provide any other information and reasons in support of the request; and
(4) provide proposed solutions to alleviate the economic distress.
History: Eff. 5/29/2002, Register 164
Authority: AS 18.56.088
Note to HTML Version:
The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.
If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.
Last modified 7/05/2006