Article

The Fairbanks North Star Borough Assembly has enacted a 10-year tax incentive program for new multi-family housing construction to combat a housing shortage caused by an influx of servicemembers and their families. The ordinance provides tax exemptions for developments of five or more residential units with at least two bedrooms, targeting designated military facility zones and high-density residential areas. This initiative, which revives a previous program, aims to facilitate housing solutions in the region, with exemption applications closing at the end of 2028.