ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2004: July 1, 2003 – June 30, 2004
CLARK COUNTYPart of Congressional District 4 |
Current Participating Lenders Located in County
Elk Horn Bank and Trust, Arkadelphia, AR 870.246.0618
Summit Bank, Inc., Arkadelphia, AR 870.230.1100
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
MEDIAN LOAN AMT. |
|
7 |
$549,350.00 |
$78,478.57 |
$78,500.00 |
Loans by Originator
|
Originator / Branch |
No. Loans |
Dollar Amount |
|
Summit Bank, Inc., Arkadelphia, AR |
7 |
$549,350.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
6 |
$444,900.00 |
|
New or Proposed Construction |
1 |
$104,450.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
6 |
$511,350.00 |
85.7% |
|
Minorities |
1 |
$38,000.00 |
14.3% |
|
Ethnicity |
Mean Income |
Median Income |
|
Non-Minorities |
$34,380.00 |
$36,816.00 |
|
Minorities |
$18,257.52 |
$18,257.52 |
|
Average Household Size: |
2.7 |
|
|
|
|
Loan Cancellation Rate: |
36.4% |
Current Participating Homebuyer Counselors Located in County
South Arkansas Community Development
Arkadelphia, AR
870.230.1717
www.arcommunity.com/sacd_001.htm
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
2 |
$5,700.00 |
$2,850.00 |
28.6% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
2 |
$5,700.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
2 |
$5,700,00 |
|
New or Proposed Construction |
0 |
$0.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
1 |
$2,700.00 |
50.0% |
|
Minorities |
1 |
$3,000.00 |
50.0% |
|
Loan Cancellation Rate: |
0.0% |
TOTAL HOMEOWNERSHIP FY 2004: $555,050.00
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
Health Resources of Arkansas, Inc., Batesville, AR (General Partner)
870.698.2141
www.nahss.org
Leisure Homes, Mountain Home, AR (Developer)
870.424.7460
www.lhclanddevelopment.com
South Arkansas Community Development (HOME Program)
870.23.1717
www.arcommunity.com/sacd_001.htm
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 |
5 |
$325,000.00 |
|
Homeowner Rehab or Mortgage Subsidy |
0 |
$0.00 |
|
Tenant Based Rental Assistance |
0 |
$0.00 |
|
Acq / Rehab |
36 |
$350,000.00 |
|
TOTAL |
41 |
$675,000.00 |
|
Average Amount per Unit |
|
$16,463.41 |
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 |
70 |
$0.00 |
$154,920.00 |
$350,000.00 |
$504,920.00 |
|
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 |
70 |
$0.00 |
$154,920.00 |
$350,000.00 |
$504,920.00 |
|
Average Amount per Unit |
|
|
|
|
$7,213.14 |
TOTAL HOUSING PRODUCTION FY 2004: $504,920.00
Total Economic Impact
Local Jobs Supported: 111
Local Business Owner’s Income: $1,030,400.00
Local Wages & Salaries: $4,209,800.00
Local Government Revenue: $709,800.00
TOTAL MONETARY IMPACT: $5,950,000.00
Capital Access Program-Participating Lenders
Elk Horn Bank & Trust, Arkadelphia, AR 870.246.5811
Southern Financial Partners, Arkadelphia, AR 870.246.9739
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 |
1 |
$2,778,027.00 |
$2,778,027.00 |
|
ADFA-Originated Loans |
0 |
$0.00 |
$0.00 |
|
Bond Guaranty Reserve Fund |
0 |
$0.00 |
$0.00 |
|
Capital Access Program |
0 |
$0.00 |
$0.00 |
|
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: $2,778,027.00
TOTAL FUNDS FOR CLARK COUNTY FY 2004
$3,837,997.00
|
Distribution of these total funds |
|
|
Homeownership |
$555,050.00 |
|
Housing Production |
$504,920.00 |
|
Development Finance |
$2,778,027.00 |