155 S. SEWARD STREET ▪ JUNEAU, ALASKA 99801
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Juneau Affordable Housing Fund
Preliminary Application For Round One Funding Released
FOR IMMEDIATE RELEASE
April 14, 2011 – 9:00 AM
Juneau Affordable Housing Fund
The City and Borough of Juneau and the Juneau Economic Development Council
announce the release of the Juneau Affordable Housing Fund (JAHF) Preliminary
Application for Round One funding.
On July 19, 2010, the City and Borough of Juneau Assembly passed ordinance No.
2010-11(G)(b) that appropriated $400,000 to the Juneau Affordable Housing Fund for
the creation, acquisition, rehabilitation, or preservation of affordable housing. The JAHF
is the first of its kind in the State of Alaska.
The purpose of the JAHF is to address the shortage of affordable housing in Juneau by
providing low and zero-interest loans to non-profit organizations, public housing
authorities, and profit-motivated entities that can provide housing for households at
120% Area Median Income (1 person, $67,650) and below.
The JAHF will be managed by the CBJ Assembly-appointed Affordable Housing
Commission and the CBJ Affordable Housing Coordinator at the Juneau Economic
Development Council. Each year the Commission will set priorities for the use of JAHF
funds. JAHF Round One priorities include:
• Use of capital to develop housing units;
• One-bedroom rental units for low-income residents (50% AMI and below); and
• Long-term affordability (50+ years).
To ensure sustainability of the JAHF, 65% of JAHF funds will be available for Round
One ($260,000). The majority of awards will be low-interest loans. 5% of funds will be
available for zero-interest loans.
An informational meeting will be held April 21, 2011 at Noon at the Juneau Economic
Development Council. The deadline for questions is May 5, 2011. Preliminary
applications will be accepted until May 31, 2011, 4:30 p.m. Alaska Time.
For an application and more information, please contact Scott Ciambor, Affordable
Housing Coordinator JEDC 523-2338, or by email at [email protected]. More
information on the JAHF program is available at http://jedc.org/housing-fund.shtml.