00                            SENATE BILL NO. 368                                                                         
01 "An Act relating to public building projects of the Alaska Housing Finance                                              
02 Corporation, authorizing the financing by the Alaska Housing Finance Corporation of a                                   
03 building in Anchorage for office space for state, federal, and municipal agencies and                                   
04 subdivisions; and providing for an effective date."                                                                     
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
07 to read:                                                                                                                
08       LEGISLATIVE FINDINGS AND INTENT.  (a)  The legislature finds that                                                 
09            (1)  the legislative branch and certain other state agencies are in need of office                           
10 space in the Municipality of Anchorage;                                                                                 
11            (2)  cost savings can be realized by state ownership of office buildings;                                    
12            (3)  efficiencies can be gained by locating similar state, federal, and municipal                            
13 government entities together for the purpose of promoting economic development, one-stop                                

01 permitting, fisheries management and development, and international trade; and                                          
02            (4)  the Alaska Housing Finance Corporation owns substantial properties                                      
03 adjacent to the Atwood Building that could accommodate an office building near other state                              
04 agencies and the municipal office building in the Municipality of Anchorage, creating further                           
05 efficiencies.                                                                                                           
06       (b)  It is the intent of the legislature to grant authority to the Alaska Housing Finance                         
07 Corporation to develop a proposal for state acquisition of all or a portion of an office building                       
08 in the Municipality of Anchorage and, upon a finding by the board of directors of the                                   
09 corporation that the project is financially feasible, to finance the project.                                           
10    * Sec. 2.  AS 18.55.010 is amended to read:                                                                        
11            Sec. 18.55.010.  Purpose of AS 18.55.100 - 18.55.290.  The purpose of                                      
12       AS 18.55.100 - 18.55.290 is to remedy the acute housing shortage that exists in certain                           
13       localities of the state by undertaking slum clearance, low-cost housing projects,                                 
14       housing for persons and their families engaged in national defense activities in the                              
15       state, and housing projects and housing for veterans and other citizens of the state and                          
16       to remedy the short supply of necessary public buildings by providing for the                                     
17       financing, construction, and acquisition of public buildings for lease to [THE] state,                        
18       federal, and municipal government entities.                                                                   
19    * Sec. 3.  AS 18.55.100(a)(15) is amended to read:                                                                 
20                 (15)  arrange or contract for the financing, design, construction, and                                  
21       acquisition of public buildings for lease to governmental entities [THE STATE] in                             
22       accordance with AS 18.55.010 - 18.55.290;                                                                         
23    * Sec. 4.  AS 18.55.288(3) is amended to read:                                                                     
24                 (3)  "public building" means a publicly owned structure, or that                                    
25       portion of a structure that is publicly owned, leased, or available for lease only to                     
26       agencies, subdivisions, public corporations, or other entities of the state, the                          
27       federal government, or a municipality for governmental, public, or educational use.                           
28    * Sec. 5.  The uncodified law of the State of Alaska is amended by adding a new section to                         
29 read:                                                                                                                   
30       NOTICE AND APPROVAL OF BUILDING FINANCING.  (a)  The Alaska Housing                                               
31 Finance Corporation is authorized to finance and own all or portions of an office building in                           

01 the Municipality of Anchorage under AS 18.55.010 - 18.55.290.  The building shall be leased                             
02 for offices to the state, the federal government, municipalities, or entities of those                                  
03 governments.  The maximum amount of total financing from every source for the entire office                             
04 building may not exceed $50,000,000.  If the Alaska Housing Finance Corporation acquires a                              
05 building or portion of a building with private tenants on the date of the acquisition, until the                        
06 leases expire, the corporation shall pay to the municipality under AS 29.45.030(a)(1)(A) the                            
07 property taxes attributable to the private tenants in the office building.                                              
08       (b)  This section constitutes the review and approval required by AS 18.55.100(d).                                
09    * Sec. 6.  This Act takes effect immediately under AS 01.10.070(c).