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STATE HOUSING FUNCTIONS CONSOLIDATED INTO THE ALASKA HOUSING FINANCING CORPORATION

 STATE HOUSING FUNCTIONS CONSOLIDATED INTO THE
 ALASKA HOUSING FINANCING CORPORATION
 ANCHORAGE, Alaska, June 26 /PRNewswire/ -- In response to legislation enacted this year and signed by the Governor, the housing functions of state government are consolidating under the Alaska Housing Finance Corporation (AHFC).
 "Our goal is for this merger to take place quickly with no interruption of services to home loan borrowers and public housing residents to whom we provide services and those companies with which we do business," said Barry Hulin, chief executive officer/executive director of the newly expanded housing corporation. "We wish at this time to express our firm commitment for continued housing and energy programs for rural Alaskans."
 The law directs that the Alaska State Housing Authority (ASHA) and the housing functions of the Alaska Department of Community & Regional Affairs (DCRA) merge into AHFC. ASHA will become the Division of Public Housing and the housing functions of DCRA will become the Division of Rural Development. Employees of the two entities become AHFC employees.
 The resulting AHFC will operated the state's public housing, offer various home loan programs with emphasis on housing for low-to-moderate- income and rural residents, and administer home energy efficiency programs.
 "The Legislature and Governor approved of this merger because they believed that one entity can more efficiently address the housing needs of this state," Hulin said. "We intend to carry out this mission."
 With the consolidation comes new leadership. The board of the new entity will be made up of seven members consisting of: the commissioners of the state departments of Revenue, Community & Regional Affairs and Health Social Services; three members of the public with backgrounds in finance or real estate, residential energy efficient home-building or weatherization, and senior or low-income housing and one member of the public who is a rural resident or who has expertise or experience with a regional housing authority. Currently the board is made up of the commissioners of Revenue, Commerce & Economic Development and Administration.
 Also as part of the consolidation, AHFC intends to purchase the DCRA rural loan portfolio for approximately $160 million. The money will be deposited into the state's general fund to help balance this year's operating budget.
 -0- 6/26/92
 /CONTACT: Margaret Nelson of Alaska Housing, 907-564-9321/ CO: Alaska Housing ST: Alaska IN: FIN SU:


LD-AH -- SE014 -- 4434 06/26/92 21:57 EDT
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Publication:PR Newswire
Date:Jun 26, 1992
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