#B • Land Affordability Program – 5 Eligible Properties

Part of 30 Property Land Auction - Kenai Peninsula Borough 2025 (live auction by Alaska Premier Auctions & Appraisals)

Status: No sale

As authorized by KPB Ordinance 2025-09, KPB has established a Land Affordability Program (LAP) to provide an opportunity for qualifying participants to purchase certain residential properties identified as "LAP Eligible" under an approved land sale ordinance. The LAP is designed to support residential development and homeownership while maintaining and ensuring a competitive bid process. Note: High-value (a reserve price equal to or greater than $120,000), prior tax foreclosure, and recreational properties are not "LAP Eligible" properties under this program.   As authorized by KPB Ordinance 2025-10, the following parcels have been identified as "LAP Eligible" in the KPB 2025 General Land Sale: Lot # 14: 1.24 Acres - L1 Bufflehead Loop, Kalifornsky, Alaska – (05503508) Lot # 15: 1.24 Acres - L5 Baldpate Loop, Kalifornsky, Alaska – (05503527) Lot # 20: 1.23 Acres - L3 Rousing Rd, Funny River, Alaska – (06631026) Lot # 22: 1.62 Acres - L2B Snug Harbor Rd, Cooper Landing, Alaska – (11911019) Lot # 27: 0.51 Acres - L3 Birch St, Anchor Point, Alaska – (16905103) Following is a summary of LAP terms and conditions. The full terms and legal obligations of the LAP are detailed in Ordinance 2025-09 and in the LAP Registration Form included in this brochure. Summary of LAP Terms and Conditions All registered bidders also interested in participating in the Land Affordability Program (LAP) must prequalify prior to the sale by completing the LAP Registration Form. A qualifying LAP participant must demonstrate Alaska residency and be domiciled in the KPB upon the LAP property closing date, or comply with the requirements to prove a demonstratable intent to immediately establish Alaska residency and be domiciled within the KPB. Qualified participants will be eligible, subject to the terms of the LAP program including recapture and development provisions, to receive a 25% discount off the winning bid amount at the time of sale if they choose to participate in the LAP. Qualified buyers will be responsible to pay 75% of the winning bid amount over the term of the agreement (LAP Amount). A down payment of 10% of the LAP Amount is required, with the remaining 90% of the LAP Amount eligible for KPB financing. A LAP participant may not assign their approved interest in the program. A LAP participant may not have more than one LAP property with an active LAP lien against it. LAP properties may be financed through the KPB at an authorized rate and term. KPB financing is not a requirement of the LAP program. A property subject to an LAP Lien may not be subdivided without first satisfying all LAP requirements and release of the LAP lien. A LAP property must be improved with a permanent foundation and Property Class Codes 110 (residential single unit dwelling) or 112 (residential 2-4 units dwelling), as determined by the KPB Assessing Department. An acceptable alternative to the foregoing is an owner provided professional appraisal showing that the property is a habitable residential dwelling qualifying for conventional financing. If KPB records indicate construction of a structure on a permanent foundation with a Property Class Codes 110 or 112, as determined by the Assessing Department, and the LAP participant has provided the affidavit of occupancy, the LAP requirements and lien will be deemed satisfied. If the property is sold or ownership is transferred without addressing the provisions of the LAP lien, the lien will immediately be due and payable. The KPB reserves the right to foreclose on any LAP lien that is not satisfied within 90 days of being due and payable. The LAP lien will run with the property until LAP terms have been satisfied, the LAP recapture has been paid in full, or 30 years. The LAP lien may be released at any time without satisfying the LAP terms upon payment of the full recapture amount: 25% of the initial winning bid amount plus 50% of the current sales price, or appraised value, whichever is greater, less the initial bid amount. Upon request, consideration will be given for improvements made to the property with valuations of improvements determined by the KPB Assessing Department or as identified in a third-party appraisal. The KPB may take legal action to recover unpaid recapture amounts.