Kenai Peninsula Borough Agenda 2026-06-16
Nikolaevsk School Property Sale to Alaska Homestead Education Approved
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Description
Kenai Peninsula Borough approved the sale of the Nikolaevsk School property to Alaska Homestead Education, Inc. for $2 million, with seller-financing and a unique deferred payment structure tied to maintenance of K-12 public charter school operations on the premises for 10 years.
Contract Details
Contract Amount
$2,000,000 (seller financing at 6% interest, ten annual installments of $202,526.64; payments deferred if property used for K-12 public school)
Vendor
ALASKA HOMESTEAD EDUCATION INC
Agency
Borough of Kenai Peninsula, AK
Contract Type
REAL_ESTATE
Document Date
June 16, 2026
Contract Term
10 years, with deferred/forgiven payment feature contingent on continuous K-12 school use
Renewal Date
2036-06-16
Renewal Info
10-year deferred payment plan with annual requirements. Full loan forgiveness after 10 years of continuous qualifying school use; reversion if used for non-school purposes for more than 4 months.
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