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Sponsor Statement for CSHB 293
AHFC Loans to Teachers

An Act relating to the teachers' housing loan program in the Alaska Housing Finance Corporation; and providing for an effective date.

House Bill 293 provides that Alaska Housing Finance Corporation (AHFC) is to establish a teachers' housing loan program to assist public school teachers in purchasing owner-occupied housing and to assist in development of multi-family teacher housing units in small communities.

Only a certificated teacher in a public elementary or secondary school in Alaska qualifies for a loan under this program. The loan may be used only for owner-occupied housing purchased with no down payment. In the multi-family housing arena, loans may be made for multi-family housing located in a city or community with a population of 6,000 or less. Units in the multi-family housing complex are to be occupied by certificated teachers employed by a public elementary or secondary school. If there are still vacancies then the owner or manager may ask AHFC to waive the teacher only requirement and offer a vacant unit to individuals employed in a public elementary or secondary school. If that does not fill the complex, then an expanded waiver may be sought to rent to individuals not employed by a public elementary or secondary school.

Under CSHB 293 (EDU), AHFC is to adopt regulations addressing the number of loans that may be made to a single borrower and borrower eligibility requirements.

I have long been concerned that our teachers may be having problems in purchasing homes in Alaska. One way to encourage retention of teachers is to permit teachers to put down roots and remain in communities where they teach. This loan program would be one small step for any teacher who resides in an area in which housing is available for purchase.

The Anchorage School District, in its 2002 legislative priorities, indicated that teacher recruitment and retention are important. According to information supplied by the Anchorage School District, only 30% of our teachers come from Alaskan colleges and universities. The remainder come from Outside and the national shortage of teachers is causing great competition for teachers. Other states are offering teacher signing bonuses, down payments on homes, mortgage subsidies, and other benefits. This loan program could be one step in Alaska's recruitment/retention toolbox.

Additionally, the lack of adequate housing in rural areas has made it hard, if not at times difficult, for rural school districts to obtain and retain teachers in their communities. This legislation will assist in developing adequate housing in these areas so that teachers will be attracted to the communities.

I urge your support of this legislation.

ED02: 04/26/02

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