(a) The corporation may use the housing assistance loan program created in AS 18.56.420 to make loans for the purchase, participation in the purchase, origination, development, or refinancing of multi-family housing in small communities. (b) In this section, (1) 'development' means the construction of a new residence or the acquisition, repair, remodeling, rehabilitation, or expansion of an existing residence; (2) 'multi-family housing' means a multi-family residence containing two or more dwelling units that may be nonowner-occupied or owner-occupied.
Alaska Legal Code