Anchorage, AK, Aug 01, 2011 -- Rural Development Alaska State Director Jim Nordlund announced today that USDA is accepting applications to participate in a demonstration program to preserve and revitalize existing Multi-Family Housing (MFH) projects financed by Rural Development.
"It’s of paramount importance to rural Alaskans to have access to decent, safe and affordable housing," Nordlund said. "Funding from this program will enhance existing conditions of multi-family housing complexes without increasing rent for low income residents in our rural communities."
The goal of the Multi-Family Housing Revitalization Demonstration Program is to restructure selected loans for rental and farm-labor housing developments to guarantee the long-term quality of these rental housing units. Among several revitalization financial tools, grants are available to correct health and safety violations to ensure safe and affordable housing for very low, low or moderate income residents. Properties participating in this program will be revitalized, and the affordable use will be extended without displacing tenants because of increased rents. No additional agency rental assistance units will be made available.
Applications for Multi-Family Housing revitalization loans and grants are due by August 22, 2011. For additional information, see page 39820 of the July 7, 2011, Federal Register or go to:
There are 39 total Multi-Family Housing complexes throughout Alaska in communities including Ketchikan, Wrangell, Seward, Juneau, Haines, Sitka, Valdez, Kenai, Naknek, Dillingham, Nome, Palmer, Dutch Harbor, Homer, Bethel, Kodiak, Soldotna, Eagle River, North Pole and Mountain Village.
USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development has an existing portfolio of more than $150 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
Visit http://www.rurdev.usda.gov for additional information about the agency's programs or to locate the USDA Rural Development office nearest you.