ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2004: July 1, 2003 – June 30, 2004
BOONE COUNTYPart of Congressional District 3 |
Current Participating Lenders Located in County
Arvest Bank of Harrison, Harrison, AR 870.741.2440
Bank of the Ozarks, Harrison, AR 870.391.8411
Community First Bank, Harrison, AR 870.391.8066
www.communityfirstbank.com
Regions Mortgage, Inc., Harrison, AR 870.391.8250
www.regionsmortgage.com
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
MEDIAN LOAN AMT. |
|
28 |
$1,939,875.00 |
$69,281.25 |
$70,262.50 |
Loans by Originator
|
Originator / Branch |
No. Loans |
Dollar Amount |
|
Superior Federal Bank, Fort Smith, AR |
1 |
$44,650.00 |
|
Arvest Mortgage Company, Lowell, AR |
1 |
$56,000.00 |
|
Community First Bank, Harrison, AR |
26 |
$1,839,225.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
27 |
$1,857,875.00 |
|
New or Proposed Construction |
1 |
$82,000.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
27 |
$1,867,975.00 |
96.4% |
|
Minorities |
1 |
$71,900.00 |
3.6% |
|
Ethnicity |
Mean Income |
Median Income |
|
Non-Minorities |
$32,197.09 |
$35,823.60 |
|
Minorities |
$29,600.16 |
$29,600.16 |
|
Average Household Size: |
2.0 |
|
|
|
|
Loan Cancellation Rate: |
3.4% |
Current Participating Homebuyer Counselors Located in County
None
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
1 |
$3,000.00 |
$3,000.00 |
3.6% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
1 |
$3,000.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
1 |
$3,000.00 |
|
New or Proposed Construction |
0 |
$0.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
1 |
$3,000.00 |
100.0% |
|
Minorities |
0 |
$0.00 |
0.0% |
|
Loan Cancellation Rate: |
0.0% |
TOTAL HOMEOWNERSHIP FY 2004: $1,942,875.00
Total Economic Impact
Local Jobs Supported: 3
Local Business Owner’s Income: $26,180.00
Local Wages & Salaries: $117,730.00
Local Government Revenue: $18,570.00
TOTAL MONETARY IMPACT: $162,480.00
Affordable Housing Partners Serving County
Harrison Housing Authority (HOME Program)
870.741.8673
Spa Area Independent Living Services (SAILS) (HOME Program-Statewide
Projects)
1.800.255-7549
www.myceon.com/training.com/heroes.pdf
Program Statistics
HOME Allocations / Board Approvals FY 2004
|
|
No. Units |
HOME Funds |
|
Rental New Construction |
0 |
$0.00 |
|
Rental Rehab |
0 |
$0.00 |
|
Homeowner New Construction |
0 |
$0.00 |
|
Homeowner Rehab or Mortgage Subsidy |
0 |
$0.00 |
|
Tenant Based Rental Assistance |
Tenants 50 |
$285,300.00 |
|
Acq / Rehab |
0 |
$0.00 |
|
TOTAL |
Tenants – 50 |
$285,300.00 |
|
Average Amount per Unit |
|
Tenants - $5,706.00 |
Disbursements of FY04’s & Previous Years’ HOME Allocations/Approvals and FY2004 Low-Income Tax Credits
|
|
No. Units |
Tax-Exempt Bonds |
Low Income Hsng Tax Credits |
HOME Funds |
Total |
|
Rental New Construction |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
Rental Rehab |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
Homeowner New Construction |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
Homeowner Rehab or Mortgage Subsidy |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
Tenant Based Rental Assistance |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
Acq / Rehab |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
TOTAL |
0 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
|
Average Amount per Unit |
|
|
|
|
$0.00 |
TOTAL HOUSING PRODUCTION FY 2004: $0.00
Total Economic Impact
Local Jobs Supported: 0
Local Business Owner’s Income: $0.00
Local Wages & Salaries: $0.00
Local Government Revenue: $0.00
TOTAL MONETARY IMPACT: $0.00
Capital Access Program-Participating Lenders
Community First Bank, Harrison, AR 870.391.8009
Program Statistics
|
Program |
No. Projects |
Project Amount |
Average Project Amount |
|
ADFA Bond Guaranty |
0 |
$0.00 |
$0.00 |
|
AEDC/Other Bond Guaranty |
0 |
$0.00 |
$0.00 |
|
Higher Education Facilities |
0 |
$0.00 |
$0.00 |
|
Wastewater Revolving Loan |
0 |
$0.00 |
$0.00 |
|
Safe Drinking Water Revolving Loan |
0 |
$0.00 |
$0.00 |
|
ADFA-Originated Loans |
0 |
$0.00 |
$0.00 |
|
Bond Guaranty Reserve Fund |
0 |
$0.00 |
$0.00 |
|
Capital Access Program |
2 |
$33,367.00 |
$16,683.50 |
|
Disadvantaged Business Enterprise |
0 |
$0.00 |
$0.00 |
|
Beginning Farmer |
0 |
$0.00 |
$0.00 |
|
Governmental Conduits |
0 |
$0.00 |
$0.00 |
|
Special Projects Fund |
0 |
$0.00 |
$0.00 |
TOTAL DEVELOPMENT FINANCE FY 2004: $33,367.00
TOTAL FUNDS FOR BOONE COUNTY FY 2004
$1,976,242.00
|
Distribution of these total funds |
|
|
Homeownership |
$1,942,875.00 |
|
Housing Production |
$0.00 |
|
Development Finance |
$33,367.00 |