ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2004: July 1, 2003 – June 30, 2004
JOHNSON COUNTYPart of Congressional District 3 |
Current Participating Lenders Located in County
Farmers Bank and Trust, Clarksville, AR 479.754.1163
Regions Mortgage, Inc., Clarksville, AR 479.754.6325
www.regions.com
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
MEDIAN LOAN AMT. |
|
12 |
$760,208.00 |
$63,350.67 |
$58,979.00 |
Loans by Originator
|
Originator / Branch |
No. Loans |
Dollar Amount |
|
Simmons First Bank, Russellville, AR |
6 |
$417,600.00 |
|
Pulaski Mortgage Company, Russellville, AR |
1 |
$52,300.00 |
|
1st Security, Searcy, AR |
2 |
$122,708.00 |
|
Priority Bank, Ozark, AR |
3 |
$167,600.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
10 |
$582,208.00 |
|
New or Proposed Construction |
2 |
$178,000.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
9 |
$573,908.00 |
75.0% |
|
Minorities |
3 |
$186,300.00 |
25.0% |
|
Ethnicity |
Mean Income |
Median Income |
|
Non-Minorities |
$28,171.31 |
$32,025.80 |
|
Minorities |
$28,724.00 |
$25,800.00 |
|
Average Household Size: |
2.7 |
|
|
|
|
Loan Cancellation Rate: |
33.3% |
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 |
8.3% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
Universal Housing Development Corp. |
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: |
66.7% |
TOTAL HOMEOWNERSHIP FY 2004: $763,208.00
Total Economic Impact
Local Jobs Supported: 6
Local Business Owner’s Income: $52,360.00
Local Wages & Salaries: $235,460.00
Local Government Revenue: $37,140.00
TOTAL MONETARY IMPACT: $324,960.00
Affordable Housing Partners Serving County
Clarksville Housing Associates II (HOME Program)
ERC Partners of Arkansas, LLC, Fort Smith, AR (General Partner)
479.452.9950
ERC Properties, Fort Smith, AR (Developer); 479.452.9950
Spa Area Independent Living Services (SAILS) (HOME Program-Statewide
Projects)
1.800.255.7549
www.myceon.com/training.com/heores.pdf
Program Statistics
HOME Allocations / Board Approvals FY 2004
|
|
No. Units |
HOME Funds |
|
Rental New Construction |
11 |
$275,000.00 |
|
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 |
11 |
$275,000.00 |
|
Average Amount per Unit |
|
$25,000.00 |
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 |
36 |
$0.00 |
$360,000.00 |
$275,000.00 |
$635,000.00 |
|
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 |
36 |
$0.00 |
$360,000.00 |
$275,000.00 |
$635,000.00 |
|
Average Amount per Unit |
|
|
|
|
$17,638.89 |
TOTAL HOUSING PRODUCTION FY 2004: $635,000.00
Total Economic Impact
Local Jobs Supported: 57
Local Business Owner’s Income: $529,920.00
Local Wages & Salaries: $2,165,040.00
Local Government Revenue: $365,040.00
TOTAL MONETARY IMPACT: $3,060,000.00
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 JOHNSON COUNTY FY 2004
$1,398,208.00
|
Distribution of these total funds |
|
|
Homeownership |
$763,208.00 |
|
Housing Production |
$635,000.00 |
|
Development Finance |
$0.00 |