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Legislature Passes Multi-Unit Housing Finance Bill

Saturday, April 13, 2013, Juneau, Alaska – The Alaska Legislature today voted to send a bill to the Governor expanding the Alaska Housing Finance Corporation’s authority to participate in multi-unit, mixed-use housing projects. The Alaska Senate unanimously passed House Bill 50, sponsored by Representative Mia Costello, R-Anchorage.

HB 50 fixes state law at the request of AHFC to permit certain commercial enterprises in multi-unit residential housing developments. “Mixed-use housing is an emerging trend, and Alaska builders and residents are paying more attention it, looking at it as an option to ease our housing shortage in Anchorage,” Costello said. “Alaskans want and deserve vibrant, dynamic neighborhoods. The opportunity for nearby restaurants, child care and other services within walking distance is an attractive option for a growing segment of the housing market.”

The bill provides sideboards on what businesses are permissible – excluding bars, tobacco shops and adult entertainment. Restaurants and other family-friendly businesses would be permitted.

“Communities across Alaska could benefit from well-planned mixed-use neighborhood developments,” Costello said. “Thank you to my colleagues in the House and Senate for passing this pro-business and pro-responsible urban planning bill.”

HB 50 unanimously passed the House March 20 and now heads to the Governor for signature. It takes effect 90 days from signature.

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