1. (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. (1) purchase of a building site;
   2. (2) site preparation;
   3. (3) preparation of plans and specifications, including project feasibility studies;
   4. (4) purchase of materials;
   5. (5) construction; and
   6. (6) rehabilitation, improvement, or conversion of an existing building for use as low-income housing.
2. (b) In 15 AAC 154.200 - 15 AAC 154.210, "multi-family housing" has the meaning provided in 15 AAC 151.950(d).

(Eff. 5/7/93, Register 130)

Authority: AS 18.56.088, AS 18.56.650