SOURCE: Alaska Housing Finance Corporation

December 18, 2007 15:31 ET

AHFC Awards $9.1 Million for Housing for Teachers, Nurses, and Public Safety Officers

ANCHORAGE, AK--(Marketwire - December 18, 2007) - Sixteen rural communities will receive over $9 million from the Alaska Housing Finance Corporation (AHFC) and the Denali Commission for the rehabilitation, acquisition, or new construction of 59 units of rental housing for teachers, health professionals, and public safety officials. AHFC CEO/Executive Director Dan Fauske and Denali Commission Federal Co-Chair George Cannelos announced the grants, which will fill the gap between the projects' capacity to carry debt and the total development cost of the projects, given reasonable expenses. AHFC received 20 applications for the funding.

       Application                         No. of Units    Grant Award
New Stuyahok Teacher Housing               4               $933,227
Nome Professional Housing                  7               $297,000
Akiachak Health and Safety Professional
 Housing                                   2               $933,227
Shunganak Teacher Housing                  13              $240,000
Arctic Village Teacher Housing Renovation  2               $454,734
Fort Yukon Teacher Housing                 2               $472,888
Tanana Teacher Housing                     2               $462,714
Selawik Teacher Housing Rehabilitation     7               $240,000
Nanwalek Teacher Housing                   2               $523,650
White Mountain Teacher Housing             4               $950,230
Shaktoolik Teacher Housing                 2               $487,860
King Cove Professional Housing             4             $1,189,952
False Pass Professional Housing            2               $418,061
Kaltag Teacher Housing                     2               $509,918
Minto Teacher Housing                      2               $509,918
Allakaket Teacher Housing                  2               $509,918
TOTALS                                     59            $9,133,227

The AHFC Teacher, Health Professional, and Public Safety Grant program provides funding for new construction, rehabilitation, or acquisition of rental housing. Eligible applicants include school districts, including REAAs; 501(c)(3) or (4) non-profit corporations; regional health corporations; municipalities; and regional housing authorities. Since 2004, the program has funded the development of 220 units of teacher, health professional, and public safety housing in 43 rural communities.

AHFC is a self-supporting public corporation with offices in 16 communities statewide. It provides statewide financing for multi-family complexes, congregate facilities, and single-family homes, with special loans for first-time home buyers, low- and moderate-income borrowers, veterans, teachers, nurses, public safety officers, and those living in rural areas of the state. AHFC also provides energy and weatherization programs, low-income rental assistance in 17 communities, and special programs for the homeless. Since 1986, AHFC has contributed nearly $1.5 billion to Alaska's State budget revenues through cash transfers, capital projects and debt service payments.

Contact Information

  • For more information, contact:
    Sherrie Simmonds
    Corporate Communications Officer
    Email Contact