Alaska lawmaker criticizes state loan to former Dunleavy administration official
A former deputy commissioner in Gov. Mike Dunleavy’s administration has been approved for a more-than-$4-million loan backed by a public authority whose board is appointed by the governor.
The loan is drawing scrutiny from a state legislator, who has also criticized the authority for a no-bid contract it awarded earlier this year.
The loan will help add 33 new rooms to the Land’s End, a hotel in Homer owned by Jonathan and Sara Faulkner. Jonathan Faulkner served as the deputy commissioner of the Alaska Department of Commerce, Community and Economic Development from December 2018 until April 2019.
The board for the Alaska Industrial Development and Export Authority, or AIDEA, voted last week to back 90% of a $4.7 million loan issued by Northrim Bank. The authority’s participation will allow for the loan to be at 3.52% over 22.5 years.
Read more: https://www.alaskapublic.org/2019/07/08/alaska-lawmaker-criticizes-state-loan-to-former-dunleavy-administration-official/