Alaska Administrative Code

(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 eligi…

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, accord…

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; …

(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 divis…

(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) 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. Notes 3 AAC 161.060 Eff. 9/2/2008, R…

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. Notes 3 AAC 161.070 Eff. 9/2/2008, Register 188…

(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 fo…

Notes 3 AAC 161.090 Eff. 9/2/2008, Register 188; am 1/28/2009, Register 189; repealed 3/8/2013, Register 205 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. M…

Notes 3 AAC 161.100 Eff. 9/2/2008, Register 188; repealed 1/28/2009, Register 189 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. State regu…

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 d…

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…

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. Notes 3 AAC 168.010 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulati…

The authority of the department to administer the CDBG program is delegated by the commissioner to the director of the division of community development. Notes 3 AAC 168.020 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have…

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 Comm…

Those communities that meet the criteria described in sec. VII of the state plan are eligible to apply for a grant under this chapter. Notes 3 AAC 168.040 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions avail…

Those activities listed in sec. IX of the state plan are eligible activities. Notes 3 AAC 168.050 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent versi…

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. Notes 3 AAC 168.060 Eff. 6/7/84, Register 90 A…

Applications submitted under this chapter must comply with the requirements specified in sec. VIII of the state plan. Notes 3 AAC 168.070 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions available. Below is a …

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, II…

Grant applicants will be notified of final grant award action under this chapter in accordance with sec. XI(A) of the state plan. Notes 3 AAC 168.090 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions available.…

The appeals process under this chapter is specified in sec. XI(B) of the state plan. Notes 3 AAC 168.100 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recen…

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. Notes 3 AAC 168.110 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; …

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 proc…

The grantee shall maintain the records specified in the grant contract issued under XI(D) of the state plan. Notes 3 AAC 168.130 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions available. Below is a compariso…

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, invo…

The issuance of contracts and reporting requirements under this chapter will be carried out in accordance with sec. XI(D) of the state plan. Notes 3 AAC 168.150 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updated quarterly; we currently have two versions…

(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) …

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. Notes 3 AAC 168.170 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulat…

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. Note…

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. Notes 3 AAC 168.190 Eff. 6/7/84, Register 90 Authority:AS 44.33.020 State regulations are updat…

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 Develop…

The provisions of 3 AAC 170.010 - 3 AAC 170.900 establish procedures for the use of money in the rural development initiative fund. Notes 3 AAC 170.010 Eff. 1/19/93, Register 125 Authority:AS 44.33.770 State regulations are updated quarterly; we currently have two versions availa…

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. Notes 3 AAC 170.020 Eff. 1/19/93, Regi…

(a) The division will, in its discretion, use money in the rural development initiative fund to purchase a participation interest in an eligible loan from an eligible lender in accordance with the procedures established in this section. The division will purchase the participatio…

(a) If the division determines that it will purchase a participation interest in a loan which is expected to be guaranteed by the Alaska Industrial Development and Export Authority under 3 AAC 99.700 - 3 AAC 99.785, the division will establish a reserve account within the fund fo…

(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,…

(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, …

(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 guar…

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 divi…

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 al…

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, t…

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 amo…

(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 pur…

(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…

(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 an…

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 u…