ANNUAL REPORT OF PROGRAM ACTIVITY

FISCAL YEAR 2004: July 1, 2003 – June 30, 2004

See “Statewide” Section for list of FY 2004 Bond Issuances

CRAWFORD COUNTY

Part of Congressional District 3

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Current Participating Lenders Located in County

BancorpSouth, Van Buren, AR 479.471.2104

www.bancorpsouthonline.com

Citizens Bank & Trust Co., Van Buren, AR 479.474.1201

www.cbankandtrust.com

US Bank Home Mortgage, Van Buren, AR 479.410.5389

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
96	*$7,308,595.00*	*$76,131.20*	*$77,717.50*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
BancorpSouth, Van Buren, AR	16	*$1,094,797.00*
Superior Federal Bank, Fort Smith, AR	6	*$451,450.00*
Farmers Bank of Greenwood, Fort Smith, AR	1	*$89,000.00*
Simmons First Mortgage Company, Little Rock, AR	2	*$110,858.00*
Arvest Mortgage Company, Lowell, AR	7	*$529,358.00*
Citizens Bank & Trust, Fort Smith, AR	12	*$960,023.00*
Citizens Bank & Trust, Van Buren, AR	9	*$599,148.00*
NARDIC, Fort Smith, AR	5	*$391,299.00*
Benefit Bank, Fort Smith, AR	37	*$2,985,927.00*
Pulaski Mortgage Company, Bentonville, AR	1	*$96,735.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	71	*$5,034,307.00*
New or Proposed Construction	25	*$2,274,288.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	77	*$5,760,073.00*	*80.2%*
Minorities	19	*$1,548,522.00*	*19.8%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$35,732.73*	*$35,352.00*
Minorities	*$37,120.94*	*$38,321.40*

Average Household Size:	*2.2*

Loan Cancellation Rate:	*11.1%*

DOWN PAYMENT ASSISTANCE PROGRAM

Current Participating Homebuyer Counselors Located in County

Crawford-Sebastian Community Development Council, Inc.

Fort Smith, AR

479.785.2303

www.cscdccaa.org

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
47	*$125,105.00*	*$2,661.81*	*49.0%*

Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

Crawford-Sebastian Community Development Council, Inc.

$125,105.00

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	42	*$112,160.00*
New or Proposed Construction	5	*$12,945.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	35	*$90,960.00*	*74.5%*
Minorities	12	*$34,145.00*	*25.5%*

Loan Cancellation Rate:

14.5%

TOTAL HOMEOWNERSHIP FY 2004: $7,433,700.00

Total Economic Impact

Local Jobs Supported: 79

Local Business Owner’s Income: $654,500.00

Local Wages & Salaries: $2,943,250.00

Local Government Revenue: $464,250.00

TOTAL MONETARY IMPACT: $4,062,000.00

HOUSING PRODUCTION

Affordable Housing Partners Serving County

Spa Area Independent Living Services (SAILS) (HOME Program-Statewide

Projects)

1.800.255.7549

www.myceon.com/training.com/heroes.pdf

Ronald-Ragon, Fort Smith, Arkansas

479.996.6947

www.ronaldragon.com/

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	0	*$0.00*
Acq / Rehab	0	*$0.00*
TOTAL	0	*$0.00*
Average Amount per Unit		*$0.00*

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	10	*$0.00*	*$0.00*	*$98,000.00*	*$98,000.00*
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	10	*$0.00*	*$0.00*	*$98,000.00*	*$98,000.00*
Average Amount per Unit					*$9,800.00*

TOTAL HOUSING PRODUCTION FY 2004: $98,000.00

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

DEVELOPMENT FINANCE

Capital Access Program-Participating Lenders

None

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	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: $0.00

TOTAL FUNDS FOR CRAWFORD CNTY FY 2004

$7,531,700.00

Distribution of these total funds
Homeownership	$7,433,700.00
Housing Production	$98,000.00
Development Finance	$0.00

Statewide Statistics / Congressional District 3