Alaska Housing Finance Corp. will make $7.6 million in federal grant funds and federal low-income housing tax credits available in 2013 to spur construction and operation of new rental facilities in Juneau.
The paucity of housing in Alaska’s capital city has been identified by the Borough Assembly as a top concern, and AHFC’s top official said the corporation’s goal is to help ease the housing crunch by creating more affordable housing.
“There is simply not enough housing in Juneau, and the fire at the Gastineau that destroyed 41 units has magnified the problem,” said Dan Fauske, executive director and chief executive officer of AHFC. “AHFC is working to offer reasonably priced housing options. It is important to Juneau, Southeast Alaska and the whole state that we move quickly.”
Juneau Mayor Merrill Sanford said the infusion of money for housing “definitely will be a big help,” as the Assembly and Juneau Economic Development Council work to develop a clear picture of Juneau’s housing market and what can be done to add more housing stock in the city and borough.
“If we can get 50 to 100 units or more out of that, that’s good,” said Sanford. “Those are the type of things that we want to see happen and our builders and contractors be able to do.”
The Assembly formed an ad hoc committee last month to plan a housing summit, which is tentatively set for Jan. 8, involving industry representatives and members of the Assembly and Planning Commission.
Gov. Sean Parnell also responded to AHFC’s announcement Monday.
“Affordable housing remains a critical need for many Alaskans and we are committed to addressing needs to the extent we’re able,” Parnell said. “AHFC has long been known for its ability to ‘make it happen.’ My office has been working with Dan and his staff to bring solutions to the ongoing challenges and today’s announcement by AHFC reflects that shared priority.”
There will be a competitive bid process and potential development teams can find out more about the program at the AHFC website under the heading “Grant Funding Availability.” The topics will be federal low-income housing tax credits and the HOME Investment Partnership Program.
Qualified development teams are encouraged to submit pre-applications to AHFC through Jan. 28. Invited pre-applicants will be expected to submit their full proposals in early May. The selected development team will begin construction in the summer of 2013 and bring units online in 2014.
Comments (6)
Add commentLet the people that already
Let the people that already own houses cry about property values....
Build something!
and don't let the Planning department squander it on studies!
One thing about this really
One thing about this really bothers me. "potential development teams " So once again the contractors get money just thrown at them, and an individual who wants to do it himself gets screwed. Guess the rich get richer...
"paucity". Had to look that one up.
It will be interesting to follow the money to see how much actually remains when the ground thaws.
Kudos to AHFC for helping out in this area though "low-income" housing units is a bit of a misnomer if we are talking single-dwelling detached homes considering the paucity of land parcels available within close proximity of schools, activities, commercial centers and work which is, of course, where families prefer to locate. And of course the NIMBY crowd will weigh in if we are talking sprawling apartment units.
My favorite demographics, though, are again not part of the equation. I call them the new middle-class.
There are those working stiffs who, through personal herculean effort, have reached the bar of credit worthiness and purchasing power to acquire homes on the open market.
There are those struggling working stiffs whose incomes match some mysterious 'federal poverty line' qualifying for state and federal assistance.
Then there is the new middle class. These working stiffs make just enough not to qualify for any assistance from anyone for anything and are just a few paydays away from membership to the latter yet keep swimming against the current towards the sirens of the former awaiting them on some distant shore while fueling our economic engines in the process.
I salute you.
"paucity". Had to look that one up.
It will be interesting to follow the money to see how much remains by the time the ground thaws.
Kudos to AHFC for assisting in this area. We are a long way, though, from being shovel ready. "Low-income housing units" mean different things to different people. Single dwelling detached homes will be a challenge considering Juneau's paucity of available land parcels in proximity to schools, activities, commercial centers and work which are where families prefer to locate. The same applies to sprawling apartment complexes. Then again the NIMBY crowd has yet to weigh in.
My favorite demographics, though, are again not part of the equation. I call them the new middle class.
There are the working stiffs who, through personal herculean effort, have reached the bar of credit worthiness, security and purchasing power to select from the open market.
There are those struggling working stiffs whose incomes match some mysterious 'federal poverty line' which qualify them for state and federal assistance.
Then there are the new middle class. These unsung heroes' incomes are just enough to not qualify for any assistance for anything. They float precariously a few paydays away from becoming card-carrying members of the latter yet keep swimming against the current towards some alluring distant sunny beach to join the former all the while fueling our economic engines.
I salute you.
Just keep swimming, just keep
Just keep swimming, just keep swimming...