Session: State Capitol, Room 417 Juneau, AK 99801-1182 Phone: (907) 465-2487 Toll Free: (800) 865-2487 Fax: (907) 465-4956 Interim: 112 Mill Bay Road Kodiak, AK 99615 Phone: (907) 486-8872 Fax: (907) 486-5264 (at LIO)

New Pacific Terrace Apartments
Capital Budget Item is Forthcoming

(JUNEAU)- Senator Alan Austerman (R-Kodiak/SE Islands) is pleased to announce that residents at Pacific Terrace will soon have new housing thanks to a $11.9 million project of the Alaska Housing Finance Corporation (AHFC). "Kodiak will utilize AHFC bond proceeds to replace 40 units at Pacific Terrace," said Austerman. "These funds will be used for the design and construction of the new units and a 2,000 square foot multi-purpose building."

Specifically this project will provide funding to demolish 37 units and construct new four and five?plex buildings. It will renovate three existing single-family, four-bedroom homes, and construct the multipurpose building. "The Pacific Terrace housing development was built in 1966 and has had limited modernization since that time," said Austerman. "The buildings, though well maintained for the last 34 years, are at the end of their useful life."

Although the buildings were originally code compliant when constructed in 1966, they do not meet numerous current codes. Subsequently if remodeled, they would have to be brought up to code and this would be extremely costly. One additional factor is unit size. All units are presently about 200 square feet below the Department of Housing and Urban Development (HUD) recommended minimum unit size.

In regards to impacts to residents, AHFC has indicated that if the project is approved this session, units at Pacific Terrace will be held vacant when a tenant moves out. On average, one to two units a month are vacated by a resident. By the time the first construction phase begins in 2003, roughly 18 vacancies are anticipated. Residents will then be offered two options:

1. A Section 8 rental assistance voucher will be offered for a private rental unit; or
2. Assuming units are available in the second phase part of the project, tenants can move into vacant units until the first phase is completed and they can move back.

A key for AHFC in achieving the least amount of disruption in the lives of residents is Sandy Amox, long-time manager of Pacific Terrace. Sandy is familiar with the needs and lives of the residents, and will be relied upon to insure that the everyday needs of residents will be addressed as much as possible. For example, AHFC will be responsible for the expenses of movers to pack and unpack everything from resident's furniture, personal belongings, knickknacks, and even the pictures of the grandkids. Also, additional expenses, such as any phone disconnect fees, utility change fees, or such costs will also be covered by AHFC for the residents.

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