reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 157 - Sustainable Salmon Outreach, Education, and Infrastructure Mitigation Programs › Article 6 - General Provisions › 3 AAC 157.910 - Reconsideration

Current through May 31, 2024
(a) No later than 10 days after receipt of
				  the department's written notification under
				  3 AAC 157.090,
				  3 AAC 157.190,
				  3 AAC 157.260,
				  3 AAC 157.360, or
				  3 AAC 157.490, the applicant may make a request for
				  reconsideration of all or part of the decision to the commissioner. The request
				  must be in writing and must identify each part of the decision to which the
				  applicant objects.
(b) No later
				  than 15 days after receiving a request for reconsideration, the commissioner
				  will review the request, the application, and any relevant supplemental
				  material, and may issue a written decision. If a written decision is not issued
				  during the 15 days after a request for reconsideration is received, the request
				  is automatically denied. The commissioner's decision on a request for
				  reconsideration is final.
(c) If
				  the applicant fails to request reconsideration during the time set out in (a)
				  of this section, the department's decision is final.
Authority:
AS
						44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 157 - Sustainable Salmon Outreach, Education, and Infrastructure Mitigation Programs › Article 6 - General Provisions › 3 AAC 157.920 - Acceptance of grant offer; grant conditions

Current through May 31, 2024
(a) Subject to the
				  availability of appropriations, the department will negotiate a grant agreement
				  with the recipient. A recipient of a final award determination does not have a
				  vested right or other entitlement to a grant under this chapter until a
				  mutually acceptable definitive written agreement is negotiated and is executed
				  by the department.
(b) In a grant
				  agreement, the department will incorporate any audit requirements of
				  2 AAC 45.010.
(c) In a grant agreement, the department may
				  require a grantee to procure, maintain, and demonstrate liability, hazard, or
				  workers' compensation insurance, may designate required policy limits, and may
				  require that the state be an additional insured under a policy.
(d) During the term of a grant agreement, the
				  grantee shall maintain and provide, at the department's request, all
				  grant-related records, reports, invoices, documents, and other information
				  required under the grant agreement.
(e) As a condition of the grant agreement,
				  the grantee must agree to comply with federal law and requirements applicable
				  to the grant or imposed on the grantee as conditions for the state to receive
				  federal money.
(f) The department
				  may withhold payment under the grant for the grantee's failure to comply with
				  this chapter or the grant agreement.
Authority:
AS
						44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 157 - Sustainable Salmon Outreach, Education, and Infrastructure Mitigation Programs › Article 6 - General Provisions › 3 AAC 157.930 - Waiver of sovereign immunity

Current through May 31, 2024
If the grantee is an entity that possesses sovereign
					 immunity, the grantee must agree as a condition of receiving a grant that the
					 grantee irrevocably waives its sovereign immunity with respect to enforcement
					 of the grant agreement or claims related to the grant agreement. The waiver of
					 sovereign immunity must be on a form approved by the Department of Law and
					 provided by the Department of Commerce, Community and Economic
					 Development.
Authority:
AS
						44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 157 - Sustainable Salmon Outreach, Education, and Infrastructure Mitigation Programs › Article 6 - General Provisions › 3 AAC 157.990 - Definitions

Current through May 31, 2024
(a) In this chapter, unless the context
				  requires otherwise,
(1) "business" has the
				  meaning given in
				  AS
				  43.70.110;
(2) "commissioner" means the commissioner of
				  commerce, community, and economic development;
(3) "department" means the Department of
				  Commerce, Community, and Economic Development;
(4) "municipality" has the meaning given in
				  AS
				  29.71.800;
(5) "regional development organization" has
				  the meaning given in
				  AS
				  44.33.895(e).
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.010 - Application process

Current through May 31, 2024
To apply for a loan for the purchase and transportation of
				  bulk fuel under
				  AS
				  42.45.250-42.45.299, an applicant must file
				  with the division
(1) a completed
				application for a bulk fuel loan, on a form provided by the division;
(2) proof that the application is for a
				community within the meaning given in
				AS
				42.45.299;
(3) a letter of intent, on a form provided by
				division, stating the amount requested and the intended use of the proposed
				loan money;
(4) a bulk fuel loan
				agreement and promissory note, on a form provided by the division;
(5) if the applicant is a Native village
				council, a resolution waiving sovereign immunity from suit for claims related
				to the loan, on a form provided by the division;
(6) a resolution by community or corporate
				applicants approving the purchase of bulk fuel, on a form provided by the
				division; and
(7) any other
				information requested by the division to demonstrate the applicant's
				eligibility for a loan.
Authority:
AS
					 42.45.250
AS 42.45.260
AS
					 42.45.270
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.020 - Examination

Current through May 31, 2024
(a) The division will process the material
				described in
				3 AAC 161.010 and
				3 AAC 161.040 and evaluate
(1) the eligibility of the
				community;
(2) the applicant's
				eligibility, financial and credit records, and ability to repay the loan;
				and
(3) any other information
				relevant to eligibility for or the issuance of a bulk fuel loan or bulk fuel
				bridge loan.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.030 - Eligibility

Current through May 31, 2024
To be eligible for a loan,
(1) an applicant must intend to use the loan
				for purchase of fuel to generate power or supply the public with fuel for use,
				including the necessary costs of transporting the fuel;
(2) an applicant must agree to repay the loan
				in one year or less, according to a repayment plan determined by the
				division;
(3) the amount of the
				loan, added to the amounts of all other bulk fuel revolving loan principal
				balances to the same borrower
(A) may not
				exceed $750,000, unless the loan is from the bulk fuel loan account and the
				borrower
(i) is a cooperative corporation
				organized under AS 10.15 or an electric cooperative organized under AS 10.25;
				and
(ii) uses the loan to purchase
				bulk fuel on behalf of more than one community; and
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.040 - Financial and credit record

Current through May 31, 2024
The division may consider the following in evaluating an
				  applicant's financial and credit record:
(1) existing and prior debts;
(2) credit reports obtained from creditors
				and private credit reporting services;
(3) prior loan history with other known fuel
				lenders or the division;
(4)
				timeliness in making payments on loans and other debts;
(5) the existence of tax liens;
(6) unpaid judgments and prior
				foreclosures;
(7) the applicant's
				financial and credit reputation.
Authority:
AS
					 42.45.250
AS 42.45.260
AS
					 42.45.270
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.045 - Interest

Current through May 31, 2024
(a) In evaluating a potential interest rate
				reduction under
				AS
				42.45.280(b), the division
				will reduce the interest rate by
(1) one
				percent for a borrower whom the division considers not to have been delinquent
				in repayment on at least one previous bulk fuel loan made by the
				division;
(2) two percent for a
				borrower whom the division considers not to have been delinquent in repayment
				on two or more bulk fuel loans made by the division.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.050 - Lending practices

Current through May 31, 2024
(a) The division will fix a loan period based
				on the needs of the borrower. However, the borrower shall repay a loan not
				later than one year after the date of the disbursement.
(b) Proceeds of a bulk fuel loan may not be
				used to
(1) purchase fuel other than bulk
				fuels; or
(2) make a profit, unless
				the profit is used to purchase additional community fuel supplies.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.060 - Disbursement of loan money

Current through May 31, 2024
(a) Loan money will
				be disbursed after the borrower has complied with the provisions of the loan
				documents and the requirements of this chapter.
(b) Loan money will be disbursed upon receipt
				by the division of delivery bills and fuel invoices.
Authority:
AS
					 42.45.250
AS 42.45.260
AS
					 42.45.270
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.070 - Modifications

Current through May 31, 2024
A request for a modification to a loan made under
				  AS
				  42.45.250-42.45.299 will be processed in the
				  same manner as a loan application. The division may require the applicant to
				  provide additional information in support of the request.
Authority:
AS
					 42.45.250
AS 42.45.260
AS
					 42.45.270
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.080 - Reconsideration of a loan request

Current through May 31, 2024
(a) If the division
				denies, inactivates, or significantly modifies a loan request, an applicant may
				file, not later than 30 days after receipt of notice of the division's
				decision, a written request for reconsideration of that decision.
(b) The division will consider a request for
				reconsideration if the applicant submits information to show that
(1) a substantial change has occurred in the
				circumstances leading to the division's decision;
(2) additional relevant information can be
				provided to the division that was not initially available; or
(3) the division made administrative
				errors.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.100 - Definitions (Repealed)

Current through May 31, 2024
The provisions of
					 3 AAC 161.100 were originally adopted as emergency
					 regulations. Effective 1/28/2009 (Register 189), the definitions section for 3
					 AAC 161 was relocated to
					 3 AAC 161.900.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.110 - Default

Current through May 31, 2024
The division may consider a borrower to be in default on a
				  loan made under
				  AS
				  42.45.250-42.45.299 if the borrower
(1) violates a provision of
				AS
				42.45.250-42.45.299, this chapter, or the
				loan documents; or
(2) fails to
				make a necessary payment during the 30-day period after the date that the
				payment is due; or
(3) fails to
				maintain any insurance that the division requires as a condition for the
				loan.
Authority:
AS
					 42.45.250
AS 42.45.260
AS
					 42.45.270
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 161 - Bulk Fuel Revolving Loan Fund › 3 AAC 161.900 - Definitions

Current through May 31, 2024
in this chapter, unless the context requires
				  otherwise,
(1) "bulk fuel" means bulk
				petroleum fuels or biomass fuel;
(2) "bulk fuel loan" means a loan made under
				AS
				42.45.260 from the bulk fuel loan
				account;
(3) "bulk fuel bridge
				loan" means a loan made under
				AS
				42.45.270 from the bulk fuel bridge loan
				account;
(4) "division" means the
				division in the Department of Commerce, Community, and Economic Development
				that is responsible for community and regional affairs;
(5) "Native village council" means
(A) a council organized under
				25
				U.S.C. 476 (sec. 16 of the Indian
				Reorganization Act);
(B) the
				council for the Annette Island Reserve established by
				25
				U.S.C. 495 for the Metlakatla Indian
				Community; or
(C) a traditional
				village council recognized by the United States as eligible for federal aid to
				Indians;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.010 - Purpose of regulations

Current through May 31, 2024
This chapter implements the community development block grant
				  (CDBG) program which is established by Title 1 of the Housing and Community
				  Development Act of 1974, as amended,
				  42 U.S.C.
				  5301 -
				  5320.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.020 - Program authority

Current through May 31, 2024
The authority of the department to administer the CDBG
				  program is delegated by the commissioner to the director of the division of
				  community development.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.030 - State plan

Current through May 31, 2024
In accordance with
				  42 U.S.C.
				  5304(a), the state plan for
				  the CDBG program, dated May 24, 1983, is adopted. The state plan is adopted as
				  a part of this chapter for the purpose of administering grants to communities
				  in the state, which are made under Title 1 of the Housing and Community
				  Development Act of 1974, as amended,
				  42 U.S.C.
				  5301 -
				  5320.
A copy of the state plan may be obtained from the Division
					 of Community Development, Department of Commerce, Community, and Economic
					 Development, P.O. Box 110800, Juneau, AK 99811.
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.040 - Eligible communities

Current through May 31, 2024
Those communities that meet the criteria described in sec.
				  VII of the state plan are eligible to apply for a grant under this
				  chapter.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.060 - Grant limitations

Current through May 31, 2024
Grants awarded under this chapter fall into the following two
				  categories:
(1) single-purpose,
				single-year grants as described in sec. V(A) of the state plan;
(2) previous multi-year grants as described
				in sec. V(B) of the state plan.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.070 - Form and content of applications

Current through May 31, 2024
Applications submitted under this chapter must comply with
				  the requirements specified in sec. VIII of the state plan.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.080 - Application review and grant award

Current through May 31, 2024
Grant applications under this chapter will be reviewed, and
				  award decisions will be made according to the criteria specified in sec. X of
				  the state plan. Award decisions will be made by the department based on the
				  applicant's ability to meet the criteria specified in secs. II, III, and X of
				  the state plan. The commissioner will announce grant awards.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.090 - Notification of grant award

Current through May 31, 2024
Grant applicants will be notified of final grant award action
				  under this chapter in accordance with sec. XI(A) of the state
				  plan.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.110 - Technical assistance

Current through May 31, 2024
The division will make every reasonable effort to respond to
				  an applicant's request for technical assistance in grant application and grant
				  administration and management.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.120 - Amendments

Current through May 31, 2024
Amendments under this chapter fall into the following two
				  categories:
(1) the division will, in
				its discretion, amend the state plan in accordance with the procedure outlined
				in sec. XI(C)(1) of the state plan;
(2) the grantee may amend a local program in
				accordance with the procedure outlined in sec. XI(C)(2) of the state
				plan.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.130 - Recordkeeping

Current through May 31, 2024
The grantee shall maintain the records specified in the grant
				  contract issued under XI(D) of the state plan.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.140 - Access to records

Current through May 31, 2024
The division will, in its discretion, and other state and
				  federal officials authorized by the division may examine, excerpt, or
				  transcribe any pertinent documents, papers, records, and books of the grantee
				  and of persons or organizations with which the grantees may contract, involving
				  transactions related to the project and contract.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.150 - Contracts and reporting forms

Current through May 31, 2024
The issuance of contracts and reporting requirements under
				  this chapter will be carried out in accordance with sec. XI(D) of the state
				  plan.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.160 - Termination of grant contract

Current through May 31, 2024
(a) The grant
				contract may be terminated in whole or in part by either party for either
				convenience or cause.
(b) Either
				party must give a minimum of five days' notice to the other party before
				termination for convenience. The grant contract may be terminated for
				convenience
(1) by the department, with the
				consent of the grantee, when the two parties agree upon the termination
				conditions;
(2) by the grantee,
				with the consent of the department, upon written notification to the department
				setting out the reasons for the termination.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.170 - Recovery of grant money

Current through May 31, 2024
If a grantee defaults or violates a term of the grant
				  contract, the department will request the attorney general to institute an
				  action to recover all or part of the grant money paid to the
				  grantee.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.180 - Audits

Current through May 31, 2024
A grantee shall arrange and pay for an audit of a grant, to
				  be conducted according to art. 30 of the grant contract. A grantee may pay for
				  the audit out of grant money. A grantee shall provide to the department copies
				  of all audits and an explanation of any questioned costs.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.190 - Compliance

Current through May 31, 2024
A grantee shall comply with the U.S. Department of Housing
				  and Urban Development regulations at  24 C.F.R. Part 570, subpart I, as
				  published in the Federal Register dated April 8, 1982.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 168 - Community Development Block Grant Program › 3 AAC 168.900 - Definitions

Current through May 31, 2024
In this chapter
(1)
				"CDBG program" means the community development block grant program;
(2) "commissioner" means the commissioner of
				the Department of Commerce, Community, and Economic Development;
(3) "department" means the Department of
				Commerce, Community, and Economic Development;
(4) "director" means the director of the
				division of community development;
(5) "division" means any employee of the
				division of community development within the Department of Commerce, Community,
				and Economic Development who is authorized to administer the community
				development block grant program;
(6) "grant" means money for an activity
				eligible under this chapter;
(7)
				"grant contract" means the binding contract between the Department of Commerce,
				Community, and Economic Development and the grantee outlining the amount and
				use of a grant, the proposed project being funded, conditions, terms of
				payment, state and federal reporting requirements, compliance assurances with
				pertinent laws and regulations impacting the design, and administration and
				implementation of the project;
(8)
				"grantee" means an eligible applicant who has been awarded a grant;
(9) "state plan" means the final statement,
				required by 42 U.S.C.
				5304(a), and adopted by
				reference in 19 AAC 68.030, containing the state's community development
				objectives, methods of distribution, and the administration and implementation
				of grants made under Title I of the Housing and Community Development Act of
				1974, 42 U.S.C.
				5301 -
				5320, as amended.
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS
					 44.33.020
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.010 - Scope of chapter

Current through May 31, 2024
The provisions of
				  3 AAC 170.010 -
				  3 AAC 170.900 establish procedures for the use of money
				  in the rural development initiative fund.
Authority:
AS
					 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.020 - Use of money in fund

Current through May 31, 2024
The division will use money in the rural development
				  initiative fund either to
(1) purchase
				participations in loans in accordance with
				3 AAC 170.030 from eligible lenders; or
(2) transfer money to reserve accounts
				described in
				3 AAC 170.040.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.050 - Loan eligibility

Current through May 31, 2024
(a) The division will purchase a
				participation in a loan with money from the fund only if (1) the borrower is an
				eligible borrower as described in (c) of this section and (2) the proceeds of
				the loan will be used by the borrower for working capital, equipment,
				construction costs, or other commercial purposes relating to the borrower's
				business. For the purposes of this subsection, the division does not consider
				the use of the loan proceeds to refinance another loan to be for any of the
				purposes described in this subsection. In addition to the other provisions of
				this subsection, the division will purchase a participation in a loan only if
				(1) the borrower's principal place of business is located within a rural
				community in the state or if the borrower verifies to the satisfaction of the
				division that the primary beneficiaries of the loan will be residents of a
				rural community in the state; (2) the loan is made to pay costs described in
				this subsection which were incurred by the borrower no earlier than six months
				before the loan application described in
				3 AAC 170.030 was filed with the division. For the
				purposes of this subsection, a "rural community in the state" means a community
				with a population of 5,000 or less.
(b) In addition to the limitations stated in
				(a) of this section, the division will purchase a participation in a loan only
				if the division concludes, based upon the information available to it, that the
				loan will result in new job creation or the retention of existing jobs in the
				community described in (a) of this section.
(c) A borrower is eligible for a loan for
				purposes of (a) of this section if the division has received information that
				it determines is sufficient to make a determination as to the borrower's
				creditworthiness and, based upon that information, determines that the borrower
				will be able to repay the loan in accordance with its terms.
(d) The division will not purchase a
				participation in a loan with money from the fund if the borrower has an
				outstanding loan in which the division has purchased a participation with money
				from the fund.
(e) The division
				will not purchase a participation in a loan with money from the fund unless the
				loan bears interest at the rate described in
				3 AAC 170.080, is secured by collateral as described in
				3 AAC 170.100, contains terms and conditions as
				described in
				3 AAC 170.110, and otherwise complies with the
				requirements of AS 44.33.765-44.33.780 and this
				chapter.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.060 - Lender eligibility

Current through May 31, 2024
(a) The division will treat any private
				institution or any federal, state, or municipal agency as an eligible lender if
				the:
(1) division is reasonably satisfied,
				based upon information provided to it from the institution or agency or other
				information available to the division, the institution or agency is capable of
				making the loan which is the subject of an application described in
				3 AAC 170.030;
(2) division is reasonably satisfied, based
				upon the information provided to it from the institution or agency or other
				information available to the division, that the institution or agency is
				capable of servicing the loan and performing its duties under the servicing
				agreement described in the following clause; and
(3) institution or agency has entered into a
				servicing agreement with the division as described in
				3 AAC 170.090.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.070 - Size of participation interests

Current through May 31, 2024
(a) For a loan that
				is a guaranteed loan, the division will only purchase a participation interest
				in the loan that is not the guaranteed portion. The division's participation
				interest in the loan will not exceed the lesser of
(1) 20 percent of the entire loan, including
				the guaranteed portion; or
(2) the
				amount described in (c) of this section.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.080 - Interest rate

Current through May 31, 2024
Until October 1, 1993, the interest rate applicable to the
				  participation interest in a loan which the division purchases under
				  3 AAC 170.030 must be seven percent per annum. After
				  October 1, 1993, the interest rate applicable to the participation interest in
				  a loan which the division purchases under
				  3 AAC 170.030 must be a fixed rate of interest equal to
				  one percent per annum above the prime rate of interest published in The Wall
				  Street Journal on the Friday before the date the division signs a commitment
				  letter to purchase a participation interest in the loan under
				  3 AAC 170.030(a), except that in no
				  event may the interest rate be less than six percent per annum. The rate of
				  interest applicable to the portion of the loan not purchased by the division
				  under 19 AAC 70.030 is set by the eligible lender but may not exceed a market
				  rate determined by the division at the time the division signs a commitment
				  letter under
				  3 AAC 170.130(a). The eligible lender
				  may determine whether to calculate interest on the basis of a 365-day year and
				  the actual number of days elapsed or on the basis of a 360-day year consisting
				  of twelve 30-day months or on any other basis conventionally used in the
				  banking industry.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.090 - Servicing agreement

Current through May 31, 2024
Before the division purchases a participation interest in a
				  loan under 3 AAC 170.030, the division will
				  enter into a servicing agreement with the eligible lender. The servicing
				  agreement will include
(1) an
				agreement by the eligible lender that the eligible lender will provide all
				servicing for the loan;
(2)
				provisions establishing methods for the collection of delinquent payments of
				principal and interest and provisions relating to foreclosure and enforcement
				of other security rights and relating to audits that may be required by the
				division;
(3) provisions relating
				to periodic reports to be filed with the division by the eligible lender and
				relating to reports of inspections and other information relating to the
				financial condition of each borrower who is in default;
(4) agreements by the eligible lender to
				service the loan in accordance with accepted business practices, including
				prompt collection of amounts due under the loan;
(5) provisions relating to forms of deed of
				trust and other security documents that are acceptable to the
				division;
(6) provisions relating
				to servicing fees that may be charged by the eligible lender;
(7) provisions relating to the payment of
				late fees to the division;
(8)
				provisions permitting the division to terminate the servicing agreement with
				the eligible lender for failure to properly perform under the servicing
				agreement by the eligible lender;
(9) provisions prohibiting the eligible
				lender from selling or otherwise disposing of an interest in a loan without
				prior notice to and approval of the division; and
(10) provisions requiring the eligible lender
				to collect and deliver to the division an assumption fee equal to one-half
				percent of the outstanding balance of the loan at the time of any assumption or
				modification permitted under
				3 AAC 170.120.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.100 - Collateral

Current through May 31, 2024
A loan in which the division will purchase a participation
				  interest under
				  3 AAC 170.030 must be secured by collateral determined
				  to be adequate by the division. The division will determine whether the
				  collateral offered is adequate based upon the credit history of the borrower,
				  the size of the loan, and other factors considered relevant by the division. In
				  the division's discretion, acceptable collateral may include a deed of trust on
				  real estate, a security interest in personal property, a guarantee from a
				  person other than the borrower, or other forms of collateral.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.110 - General terms of loans

Current through May 31, 2024
A loan in which the division will purchase a participation
				  interest under
				  3 AAC 170.030 must mature within the period of time, and
				  contain amortization terms, reasonable in the determination of the division for
				  the size and type of loan involved. The division will consider an amortization
				  schedule that provides for equal monthly payments through the term of the loan
				  to be reasonable. The loan must be fully repaid within the following
				  periods:
(1) for a loan to be used for
				working capital, five years from the date that the loan is made;
(2) for a loan to be used to acquire property
				other than real property, the earlier of
(A)
				15 years from the date the loan is made; or
(B) the date that represents 75 percent of
				the reasonably expected economic life of the property from the date the loan is
				made as determined by the division; and
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.120 - Assumptions and modifications

Current through May 31, 2024
(a) A loan in which
				the division has purchased a participation under
				3 AAC 170.030 may be assumed if the person assuming the
				loan would be eligible for a loan under
				3 AAC 170.050.
(b) The division will consent to a
				modification of the terms of a loan in which the division has purchased a
				participation interest under
				3 AAC 170.030 if the borrower and the eligible lender
				submit to the division a written application for the modification and if the
				division determines based upon the information available to it that the
				modification is necessary to either prevent a default or to further the
				purposes of the fund or to protect the interests of the state.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.130 - Loan application review and appeal

Current through May 31, 2024
(a) Upon receipt of
				an application under
				3 AAC 170.030, the division will form a loan committee
				of one or more persons which may consist of employees of the division or
				persons selected for their expertise in commercial financing from outside the
				division. The loan committee will review the application and will make a
				recommendation to the division director whether the requirements of this
				chapter have been met with respect to the loan. If the division director
				determines that the requirements of this chapter have been met, the division
				will enter into a commitment to purchase the participation interest in the loan
				from available money in the fund.
(b) If the division director determines that
				the requirements of this chapter have not been met, the division will decline
				the application. Within 15 days after receipt of notice of the decision denying
				the loan, the lender may appeal the decision to the commissioner. The appeal
				must be in writing. Within 30 days of receipt of an appeal of a decision, the
				commissioner will review the application and any supplemental material and will
				notify the lender of the final determination affirming, reversing or modifying
				the decision and the reasons for the final determination. If the lender fails
				to file an appeal within 15 days after receipt of the division director's
				decision, the division director's decision constitutes the final determination
				of the department.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.140 - Confidentiality of information

Current through May 31, 2024
(a) The following
				information is not confidential and is available for public inspection upon
				request:
(1) a document that is already a
				public record;
(2) general
				information regarding loans, including the original loan amount, loan terms,
				personal guarantees, and disbursement and repayment schedules;
(3) insurance matters, including title
				insurance policies and correspondence with insurance companies and borrowers
				regarding losses, accident reports, and nonpayment of premiums; and
(4) foreclosure and default
				proceedings.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 170 - Rural Development Initiative Fund › 3 AAC 170.900 - Definitions

Current through May 31, 2024
In this chapter
(1)
				"division" means the division assigned to administer this chapter in the
				Department of Commerce, Community, and Economic Development;
(2) "eligible lender" means a lender that is
				eligible under
				3 AAC 170.060;
(3) "eligible loan" means a loan that is
				eligible under
				3 AAC 170.050;
(4) "fund" means the rural development
				initiative fund;
(5) "guaranteed
				loan" means a loan that is guaranteed by the Alaska Industrial Development and
				Export Authority as described in
				3 AAC 170.040;
(6) "guaranteed portion" means the portion of
				a loan that is guaranteed by the Alaska Industrial Development and Export
				Authority as described in
				3 AAC 170.040;
(7) "participation interest" means a
				percentage of the principal amount of a loan that includes the right to receive
				interest on that principal amount and other rights applicable to the ownership
				of a loan;
(8) "reserve account"
				means a reserve account established under
				3 AAC 170.040;
(9) "commissioner" means the commissioner of
				the Department of Commerce, Community, and Economic Development;
(10) "community" means a community as defined
				in 3 AAC 110.920 and
				3 AAC 110.990(4).
As of Register 171 (October 2004), the regulations attorney
					 made technical revisions under
					 AS
					 44.62.125(b)(6) to reflect
					 the name change of the Department of Community and Economic Development to the
					 Department of Commerce, Community, and Economic Development made by ch. 47, SLA
					 2004 and the corresponding title change of the commissioner of community and
					 economic development.
Authority:
AS 44.33.765
AS 44.33.770
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 180 - Community Assistance Program › 3 AAC 180.010 - Application for community assistance payments

Current through May 31, 2024
(a) To receive a
				community assistance payment under
				AS
				29.60.850 -
				29.60.879, a municipality,
				reserve, or community must certify and agree, on a form provided by the
				department,
(1) that the municipality,
				reserve, or community is in compliance with
				AS
				29.60.850 -
				29.60.879 and this
				chapter;
(2) to use a payment
				received under
				AS
				29.60.855 and
				29.60.860 only for a public
				purpose as required under
				AS
				29.60.850(a);
(3) to make a service or facility provided
				with a payment received under
				AS
				29.60.855 and
				29.60.860 available to every
				person in the community regardless of race, religion, color, national origin,
				age, physical or mental disability, sex, marital status, changes in marital
				status, pregnancy, parenthood, or political affiliation; and
(4) to maintain, as required under this
				paragraph, all accounting records, receipts, invoices, and other documents
				related to the receipt and expenditure of a payment under
				AS
				29.60.855 and
				29.60.860, including all documents
				that record the activities that occurred through the use of the payment; if the
				payment is for a community, the village council or incorporated nonprofit
				entity that agrees to receive the payment for the community must agree to
				maintain documents as required under this paragraph; the documents must be
				maintained
(A) for at least three years after
				the date when the department distributes a payment under
				AS
				29.60.855 and
				29.60.860 each year to the
				municipality or reserve or to the village council or incorporated nonprofit
				entity for a community; and
(B) for
				longer than three years and until the matter is fully resolved, if the
				municipality or reserve, or the village council or incorporated nonprofit
				entity for a community, has an unresolved audit finding, questioned costs,
				litigation, or a grievance at the end of the three-year period.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 16 - Division of Community and Regional Affairs › Chapter 180 - Community Assistance Program › 3 AAC 180.020 - Reports to the department by municipalities

Current through May 31, 2024
In addition to meeting the requirements of
				  3 AAC 180.110 that apply to a municipality, and before
				  the department makes a community assistance payment to a municipality, the
				  municipality must submit
(1) maps and
				descriptions of all annexed or detached territory as required under
				AS
				29.20.640(a)(1);
(2) if the municipality is a borough, unified
				municipality, or first class city, a copy of the annual audit reviewed by a
				certified public accountant licensed under AS 08.04, as required under
				AS
				29.20.640(a)(2);
(3) if the municipality is a second class
				city and is required under state or federal law to submit an audit, a copy of
				that audit reviewed by a certified public accountant licensed under AS 08.04,
				as required under
				AS
				29.20.640(a)(2); otherwise,
				a second class city must · submit a statement of annual income and
				expenditures approved by the governing body, as required under
				AS
				29.20.640(a)(2);
(4) tax assessment and tax levy figures for
				the most recently completed annual budget cycle as required under
				AS
				29.20.640(a)(3);
(5) a copy of the current annual budget of
				the municipality as required under
				AS
				29.20.640(a)(4);
(6) as required under
				AS
				29.20.640(a)(5), a summary
				of the optional property tax exemptions authorized together with the estimate
				of the revenues lost to the municipality by operation of each of the
				exemptions; and
(7) a copy of the
				taxpayer notices required under
				AS
				29.45.020 and
				29.45.660.
Authority:
AS
					 29.20.640
AS 29.45.020
AS 29.45.660
AS
					 29.60.850
AS
					 29.60.865
AS
					 44.33.020