The Daily Alaska empire., 1950-04-03

manner as to provide reasonable sales prices to purchasers and or reasonable rentals to tenants and a reasonable return on the invest ment.
 4 A certified statement that such lands are being requested for the purpose of sponsoring a housing project as herein specified, that no other developments will be made without the prior written approval of the Alaska Housing Authority.
 5. The housing development con- structed hereon shall be in com pliance with applicable rules and regulations of the Federal Housing Administration, and such develop ment shall be further approved by the Alaska Housing Authority as to plans and specifications and the development of adjacent areas.
 6. Not less than fifty percent of the dwelling units in the housing project constructed hereunder shall be initially offered for rent or sale to veterans of World War II (hon- orably separately who at any time have spent not less than one year continuously in Alaska; for a period of at least 30 days, following the publication of a notice of such prior ity.
 [ T. If for any reason for which the purchaser is considered by the Authority to be responsible, the project is not carried to completion following the transfer of title, the performance bond will be forfeited plus the purchase price of and title to the land as herein stated. i 8. A statement that where pos sible and in the best interest of economy and good construction, local materials, labor, and financing will be used.
 Part II. Award of Option ! An option for the purchase of the fifty lots vii be awarded to the sponsor of the proposal which in the judgment of the Authority com plies with the terms and condi- tions" outlined in Part I and is in the best public interest. The qualifications of the proposals will be judged on the following basis:
 l. Lowest cost considering the need for low cost homes with sale price to the eventual owners of less than ten thousand dollars (S10,000) and rentals on comparative basis. 2. Adequacy of size and plan lay out for Alaskan living. 8. Adequacy of construction and specification.
 4. Harmony of design and site development.
 The option will be conditioned upon the receipt of evidence that the FILA has made a firm com mitment to insure the project pro- posed by the successful bidder, and upon further evidence of commit ment from an approved mortgagee that the insured mortgage or mort gages will be purchased by such mortgagee and upon receipt of the performance bond or other assurance of completion.
 Title to the above described lands will be issued in the form of quit claim deed upon evidence of com pliance with the General Terms and Conditions as herein set forth and upon compliance with the terms of the award of the option and sat- isfactory evidence of FILA. insur- ance commitment or commitments and the availability of mortgagee.
 The Alaska Housing Authority re- serves the right to reject any or all bids and to waive any of the above requirements, when in its opinion such rejection or waiver is in the best public interest.
 Bids must be submitted in tripli- cate to the following addreSsee:
 E. Glen Wilder
 Executive Director
 Alaska Housing Authority
 Box 179
 Anchorage, Alaska
 Envelopes must be sealed and marked as follows:
 Proposal for purchase of
 Duck Creek Lands for
 Housing Development. First publication, April 3, 1850. Last publication, April 10, 1850. NOTTfE OE INTENTION TO SELL