2014 Alaska Statutes
Title 18 - HEALTH, SAFETY, HOUSING, HUMAN RIGHTS, AND PUBLIC DEFENDER
Chapter 18.56 - ALASKA HOUSING FINANCE CORPORATION
Article 04 - SENIOR HOUSING OFFICE
Sec. 18.56.730 Conditions on loans.
(a) The corporation shall adopt regulations under AS 18.56.088(a) and (b) establishing acceptable security for loans originated or purchased in whole or in part under AS 18.56.700 - 18.56.799.
(b) The corporation
(1) may condition a loan under AS 18.56.700 - 18.56.799 on an agreement by the borrower to maintain the financed project as senior housing for a time period specified by the corporation; and
(2) shall establish by regulation the criteria it will use for specifying time periods under (1) of this subsection and for determining under what circumstances the time periods can be decreased after the loan is made.
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