The Daily Alaska empire., 1950-04-03

amount of $12,500.00 payable to the City of Douglas. Cheeks from un- successful bidders will be returned, (c) a certificate guaranteeing the issuance to the Alaska Housing Authority within 10 days following notice of acceptance of proposal, oi a performance bond or other assur- ance of completion in an amount not less than two times the cost of the :and;
 3. A certified statement that the purchaser is a public agency, private non-profit or limited dividend cor poration, or private corporation which will submit to regulation or restriction by the Authority, in the following manner: that any housing or other revenue producing structure or apurtenances constructed on this land will be subject to the regu- lations or restrictions by the Alaska Housing Authority as to rents or sales, charges, capital structure, rate of return, and methods of opera ton to such an extent and in such manner as to provide reasonable sales prices to purchasers and Tor reasonable rentals to tenants and a reasonable return on the invest ment.
 A. A certified statement that such lands are being requested for the purpose of sponsoring 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 separated) who at any time nave spent not less than one year continuously in Alaska; for period of at least 30 days, following the publication of a notice of such prior ity.
 2. 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 til. to the land as herein stated.
 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 H. Award of Option
 An option for purchase of the twenty-five lots will 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 ($10,000) and rentals on a comparative basis.
 2. Adequacy of size and plan lay out for Alaskan living.
 3. 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 firm con- 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- H. -L~.