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House Passes Multi-Unit Housing Finance Bill

Costello’s HB 50 allows AHFC to permit and participate in mixed-use housing

Wednesday, March 20, 2013, Juneau, Alaska – The Alaska House of Representatives today passed a bill expanding the Alaska Housing Finance Corporation’s authority to participate in multi-unit, mixed-use housing projects.

House Bill 50, sponsored by Representative Mia Costello, R-Anchorage, fixes state law at the request of AHFC to permit certain commercial enterprises in multi-unit residential housing developments. “Alaskans want vibrant, dynamic neighborhoods, and with this bill AHFC can have more tools to help. Mixed-use housing is trending, allowing people convenient access to restaurants, child care, and other services within easy distance of their homes,” Costello said. “House Bill 50 is pro-business and can help ease Alaska’s housing shortage.”

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.

HB 50, which passed unanimously with bipartisan support, now moves to the Alaska Senate.

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