Alaska

Alaska Programs and Resources

The following government funding programs, contacts and resources are available in Alaska

Programs
The following programs are available to you in the state.

Weatherization and Energy Rebate
4300 Boniface Parkway 99504
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-338-6100
Fax: 907-338-9218
Alaska Finance Corporation offers a variety of nationally recognized, award winning & innovative energy programs to serve the needs of Alaskans.

The Research and Rural Development Department (R2D2) is the Alaska State Energy Office. It is the primary recipient of federal funds for Renewable Energy and Energy Efficiency to Alaska. R2D2 provides funding to weatherization service providers; the Alaska Energy Authority for geothermal, wind and other renewable energy projects; and energy-efficiency programs for schools and community buildings.
Website: http://www.ahfc.state.ak.us/energy/weatherization_rebates.cfm

The Home Energy Rebate Program
4300 Boniface Parkway 99504
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-338-6100
Fax: 907-338-9218
The rebate program assists homeowners in making the best energy efficiency improvements for their home. The program requires a home energy rater to evaluate homes before and after the improvements. The more a home?s energy efficiency improves, the greater the possible rebate.
Website: http://www.ahfc.state.ak.us/energy/weatherization_rebates.cfm

Second Mortgage Program for Energy Conservation
4300 Boniface Parkway 99504
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-338-6100
Fax: 907-338-9218
The rebate program assists homeowners in making the best energy efficiency improvements for their home. The program requires a home energy rater to evaluate homes before and after the improvements. The more a home?s energy efficiency improves, the greater the possible rebate.

The maximum loan amount is $30,000.
The maximum loan term is 15 years.
The interest rate is the Taxable Program 15-year interest rate.
Website: http://www.ahfc.state.ak.us/loans/second_energy_conserv.cfm

Small Building Material Loan
4300 Boniface Parkway 99504
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-338-6100
Fax: 907-338-9218
Borrowers with residential property located in “small communities” may apply directly to AHFC for funds to renovate or complete their property. The project may include repair or renovations that improve the livability of the home, energy efficient upgrades or the addition of living space.

Loan funds may be used to purchase building materials (exclusive of luxury items such as hot tubs), or pay for freight or third party labor costs. Borrowers must complete renovations within six months (180 days) of loan closing.

The maximum loan amount is $20,000.
On non-owner occupied properties, only duplexes and above are eligible.
Construction/renovation must meet current building codes. Health/safety hazards must be included in the renovation.
Website: http://www.ahfc.state.ak.us/loans/small_building_material.cfm

Neighborhood Stabilization Program (NSP)
4300 Boniface Parkway 99504
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-338-6100
Fax: 907-338-9218
The Neighborhood Stabilization Program (NSP) Substantial Amendment to the Housing & Community Development Plan was approved by the AHFC Board of Directors on November 20, 2008. The Substantial Amendment was submitted to the Department of Housing & Urban Development (HUD) in late November and was approved by HUD on December 29, 2008.

AHFC entered into a grant agreement with HUD for the Neighborhood Stabilization Program on March 6, 2009. Alaska?s allocation is $19.6 million to provide funds for neighborhood stabilization activities. NSP grantees must give priority emphasis to the areas of greatest need, targeting areas with the greatest percentage of foreclosures, areas with the highest percentage of homes financed by subprime mortgage related loans, and areas identified as likely to face a significant rise in the rate of home foreclosures.

A statewide Request for Qualifications competition was held by geographic funding area during the month of February and March. AHFC awarded over $16 million for the NSP program activities on May 1, 2009. AHFC will have 18 months from the execution date of the grant award to obligate the funds. Grantees will have four years to fully expend these funds.
Website: http://www.ahfc.state.ak.us/grants/nsp.cfm

Assistance Program (TCAP)
Daniel Delfino
Planner, Planning and Program Development
Alaska Housing Finance Corporation
PO Box 101020
Anchorage AK 99510-1020
Phone: 907-330-8273
Fax: 907-338-2585
Email: ddelfino@ahfc.state.ak.us
This program provides federal grants and/or loans to for-profit or non-profit organizations to develop affordable rental housing for projects that have received an award of Low-Income Housing Tax Credits between October 1, 2006, and September 30, 2009. Awards are made under a competitive process. Eligible activities to support a funding request under this program are described in the reference documents below.

This program falls under the Greater Opportunities for Affordable Living program (GOAL).
Website: http://www.ahfc.state.ak.us/grants/tcap.cfm

Operating Expense Assistance Program (OEA)
Phone: 907-330-8275
Email: cslover@ahfc.state.ak.us
The OEA program provides direct operating expense funding to non-profit organizations that have been certified by AHFC as a ?Community Housing Development Organization (CHDO)? as defined under the HOME Investment Partnerships Program. The assistance is provided directly to the qualified non-profit organization.
Website: http://www.ahfc.state.ak.us/grants/oea.cfm

Homeownership Development Program (HDP)
Kenai Peninsula
RurAL CAP
PO Box 200908
Anchorage, AK 99520-0908
Phone: 907-330-8275
Email: cslover@ahfc.state.ak.us
The purpose of the Homeownership Development Program (HDP) is to provide decent housing with improved affordability. HDP funding may be used for real property acquisition and site improvements for new construction of permanent, single family housing. Eligible applicants include only participants in the USDA?s 523 self-help homeownership program, Community Land Trusts and Habitat for Humanity organizations; HDP funds can only be used for eligible projects outside of the Municipality of Anchorage.
Website: http://www.ahfc.state.ak.us/grants/hdp.cfm

HOME Investment Partnership Act
Colette Slover
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-330-8275
Fax: 907-338-2585
Email: cslover@ahfc.state.ak.us
Website: http://www.ahfc.state.ak.us/grants/home.cfm

Multi-Family Loan Purchase Program
Borrowers may be individuals, partnerships, joint-ventures, for profit or non-profit corporations and apply for the Multi-Family Loan Purchase Program through an approved lender. Properties must be multi-family housing of at least five units principally designed for residential use. The loan proceeds may be used to acquire; refinance; moderately rehabilitate in conjunction with the acquisition or refinance of the property; and/or extract equity in conjunction with a refinance.

Under the “Whole Loan Program,” AHFC will provide 100% of the financed amount. If cash equity extraction is requested, the lender must participate for the amount requested.
No maximum loan amount for the program, the maximum principal amount of the loan may not exceed the lesser of 80% of the appraised value of the property, or one of the following:
* Acquisition: 80% of the acquisition price
* Acquisition with Rehabilitation: The total of 80% of the acquisition cost, 100% of the allowable costs to rehabilitate, and 100% of the other transaction costs approved by AHFC
* Refinancing: 80% of the appraised value
* Refinance with Rehabilitation: 100% of the allowable rehabilitation costs, the amount of the debt being refinanced and other refinancing costs approved by AHFC
* New Construction: 100% of the allowable costs to construct
* Refinance with Equity Extraction: Please contact an approved lender for details
Minimum debt service coverage ratio is 1.25% using a vacancy rate of no less than 5%.
Taxes, insurance, and replacement reserves are collected monthly.
Prepayment penalty five percent (5%) for the first five years (pro-rata).
Website: http://www.ahfc.state.ak.us/loans/multi-family_loan_purchase.cfm

Multi-Family Federally Insured Loan Program
Individuals, non-profits, and for-profits working with approved lenders may obtain financing to purchase, renovate, or refinance multi-family housing of at least five units for loans with 90% or more of the principal balance insured by the federal government. This program is primarily used to finance existing properties with individuals or for-profits as borrowers.

Minimum debt service coverage ratio is 120% of what is acceptable by guarantor.
Maximum loan term is 35 years.
Taxes, insurance, and replacement reserves are collected monthly.
There are no unit set-aside requirements.
Website: http://www.ahfc.state.ak.us/loans/multi-family_federally_insured.cfm

Multi-Family Congregate and Special Needs Program
Eric Havelock
Alaska Housing Finance Corporation
4300 Boniface Parkway
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907.338.6100
Fax: 907.338.9716
Email: ehaveloc@ahfc.state.ak.us
Individuals, non-profits, for-profits and state or municipal agencies may apply for financing to construct or purchase and renovate, housing projects characterized as multi-family housing, senior housing, housing utilized by physically and developmentally disabled individuals, emergency shelter, transitional housing or congregate housing. Generally, projects involve the use of tax-exempt financing or tax credits.

Taxes, insurance, and replacement reserves are collected monthly
Minimum debt service coverage ratio is 1.20%
Unit Set-Asides: 20% of the units for tenants at 50% of median income or less and 40% of the units for tenants at 60% of median income
Website: http://www.ahfc.state.ak.us/loans/multi-family_congregate.cfm

Senior Housing Loan Program
Jim B. McCall
Alaska Housing Finance Corporation
4300 Boniface Parkway
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907-330-8436
Email: jmccall@ahfc.state.ak.us
Borrowers apply directly to AHFC for funds to purchase, construct, or renovate senior housing. Facilities must meet both the present and future geriatric needs of senior citizens and may include conventional housing, housing for the frail elderly, group homes, congregate housing or assisted living facilities.

Borrowers may be individuals, partnerships, joint ventures, for-profit or non-profit corporations, regional housing authorities or local governments.

The loan may be secured by a first lien on real property in fee simple or an acceptable leasehold estate.
Secondary financing will be considered on a case by case basis.
Loans made with senior housing revolving funds will require that a covenant be placed on the to ensure that the borrower will maintain the financed project as senior housing for a minimum of 30 years or the actual term of the loan.
Escrows for taxes, assessments and other charges or liens, as well as operating and maintenance reserves, may be required.
Annual audited financial statements may be required.
Website: http://www.ahfc.state.ak.us/loans/senior_housing.cfm

Assistance Provider Interest Rate Reduction Program
Eric Havelock
Alaska Housing Finance Corporation
4300 Boniface Parkway
PO Box 101020
Anchorage, AK 99510-1020
Phone: 907.338.6100
Fax: 907.338.9716
Email: ehaveloc@ahfc.state.ak.us
Based on the initial number of occupants, borrowers may receive an interest rate reduction of 2.5% to 3.5% for providing in-home care for two to five mentally or physically disabled individuals. Care must be provided by an on-site live-in care provider. The property should be modest in nature, appropriately sized for the number of occupants, and provide the necessary accessibility, equipment and therapy features.

Borrowers may be individuals, partnerships, joint ventures, non-profits, trusts, or regional housing authorities.
Properties may be single-family residences, duplexes, triplexes, or fourplexes.
Housing must be licensed by the appropriate authority based on its intended use.
An annual inspection of the property and certification of the number of occupants is required.
The interest rate is adjusted if there is a change in the number of occupants. (Minimum of two)
Website: http://www.ahfc.state.ak.us/loans/assistance_provider.cfm

AHFC Loan Programs and Options
Alphabetical Listing of All AHFC Loan Programs and Options
Website: http://www.ahfc.state.ak.us/loans/loan_programs_options.cfm

Greater Opportunities for Affordable Living (GOAL)
Daniel Delfino, Planner
Planning and Program Development Department
Alaska Housing Finance Corporation
PO Box 101020
Anchorage AK 99510-1020
Phone: 907-330-8273
Fax: 907-338-2585
Email: ddelfino@ahfc.state.ak.us
The GOAL program provides grants, federal tax credits and zero-interest federal loans to developers and project sponsors who build affordable rental housing for low-to-moderate income families and seniors. The program is open to for-profit corporations, non-profit agencies and regional housing authorities.
Website: http://www.ahfc.state.ak.us/grants/goal.cfm

Housing Choice Voucher Program
AHFC maintains a housing assistance wait list for qualified applicants. Before receiving a voucher, applicants are screened by AHFC for program and income eligibility.

Applicants search for housing in the private rental market. If the landlord agrees to accept their vouchers, participants pay approximately 30% of their adjusted gross income to the landlord for rent. The balance of the contract rent is paid by AHFC directly to the property owner or management firm.

Over 4,000 families participate in the Housing Choice Voucher Program statewide. More than 2,000 owners of rental property already are taking advantage of Housing Choice Vouchers, but AHFC is continually looking for additional landlord participation.
Website: http://www.ahfc.state.ak.us/rental/landlord_hcv_guide.cfm

Energy Efficient Appliance Rebate Program
Alaska Housing Finance Corporation
The program will be limited to those disabled Alaskans who currently receive some form of disability payment from the state or federal government. The state will issue vouchers to qualified applicants, who can use them towards the purchase of new appliances. The program is tentatively scheduled to begin in March 2010 and may run until September 2011, or until funds run out. Rebates may be higher in some rural areas to cover shipping costs. Residents are encouraged to recycle their old appliances.The program is tentatively scheduled to begin in March 2010 and may run until September 2011, or until funds run out. Rebates may be higher in some rural areas to cover shipping costs. Residents are encouraged to recycle their old appliances.

Eligible Products:
* Refrigerators
* Freezers
* Clothes washers
* Dishwashers

Program running March 2010 – September 2011
Website: http://www.ahfc.state.ak.us/

Senators
Your state senators can help you move your deals forward. Here’s who you want to reach out to.

Mark Begich (D-AK)
111 Russell Senate Office Building
Washington Dc 20510
Phone: (202) 224-3004
Email: Contact Online
Website: http://begich.senate.gov

Lisa Murkowski (R-AK)
709 Hart Senate Office Building
Washington Dc 20510
Phone: (202) 224-6665
Email: Contact Online
Website: http://murkowski.senate.gov/

House Representatives
State Representatives don’t want boarded up properties or unaffordable housing in their districts. Reach out to them for a helping hand in getting your applications reviewed.

Rep. Donald Young [R, AK-0]
Website: http://donyoung.house.gov

Large Cities and Communities
The following larger cities and communities are most likely to offer local programs:

  • Anchorage