(a) In addition to the power given under Alaska Stat. § 18.55.480 – 18.55.960, the corporation may plan and undertake an urban renewal project. In Alaska Stat. § 18.55.480 – 18.55.960 an urban renewal project includes undertaking and activity for the elimination and prevention of the development or spread of slums or blighted, deteriorated, or deteriorating areas. An urban renewal project may involve any work or undertaking for this purpose that constitutes a redevelopment project or any rehabilitation or conservation work or any combination of an undertaking or work.
Terms Used In Alaska Statutes 18.55.680
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) Rehabilitation or conservation work includes
(1) carrying out plans for a program of voluntary or compulsory repair and rehabilitation of buildings or other improvements;(2) acquisition of real property and demolition, removal, or rehabilitation of buildings and improvements from it where necessary to eliminate unhealthful, insanitary, or unsafe conditions, lessen density, reduce traffic hazards, eliminate obsolete or other uses detrimental to the public welfare, or to otherwise remove or prevent the spread of blight or deterioration, or to provide land for needed public facilities;(3) installation, construction, or reconstruction of streets, utilities, parks, playgrounds, and other improvements necessary for carrying out the objectives of the urban renewal project; and(4) the disposition, for uses in accordance with the objectives of the urban renewal project, of any property or part of property acquired in the area of the project; disposition shall be in the manner prescribed in Alaska Stat. § 18.55.480 – 18.55.960 for the disposition of property in a redevelopment project area.
