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(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.
History: Eff. 5/7/93, Register 130
Authority: AS 18.56.088
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Last modified 7/05/2006