(a) The corporation may use the housing assistance loan program created in Alaska Stat. § 18.56.420 to make loans for the purchase, participation in the purchase, origination, development, or refinancing of multi-family housing in small communities.
Terms Used In Alaska Statutes 18.56.580
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.
(b) In this section,
(1) “development” means the construction of a new residence or the acquisition, repair, remodeling, rehabilitation, or expansion of an existing residence;(2) “multi-family housing” means a multi-family residence containing two or more dwelling units that may be nonowner-occupied or owner-occupied.
