ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2004: July 1, 2003 – June 30, 2004
LOGAN COUNTYPart of Congressional District 4 |
Current Participating Lenders Located in County
First Western Mortgage, Inc., Booneville, AR 479.675.3895
The First National Bank of Paris, Paris, AR 479.963.6319
The First National Bank of Paris, Booneville, AR 479.675.7070
The First National Bank of Paris, Ratcliff, AR 479.635.4111
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
MEDIAN LOAN AMT. |
|
15 |
$916,898.00 |
$61,126.53 |
$66,000.00 |
Loans by Originator
|
Originator / Branch |
No. Loans |
Dollar Amount |
|
First Western Mortgage, Inc., Booneville, AR |
5 |
$310,800.00 |
|
Bank of Dardanelle, Russellville, AR |
1 |
$75,098.00 |
|
1st National Bank, Paris, AR |
8 |
$493,150.00 |
|
Arvest Mortgage Company, Lowell, AR |
1 |
$37,850.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
14 |
$838,898.00 |
|
New or Proposed Construction |
1 |
$78,000.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
13 |
$804,548.00 |
86.7% |
|
Minorities |
2 |
$112,350.00 |
13.3% |
|
Ethnicity |
Mean Income |
Median Income |
|
Non-Minorities |
$31,977.39 |
$33,718.80 |
|
Minorities |
$38,202.60 |
$38,202.60 |
|
Average Household Size: |
2.3 |
|
|
|
|
Loan Cancellation Rate: |
11.8% |
Current Participating Homebuyer Counselors Located in County
None
Loan Statistics
|
NO. LOANS |
DOLLAR AMOUNT |
MEAN LOAN AMT. |
% of H2O (1ST) LOANS |
|
3 |
$8,900.00 |
$2,966.67 |
20.0% |
Loans by Homebuyer Counselor
|
Counselor |
No. Loans |
Dollar Amount |
|
Arvac, Inc. |
1 |
$2,900.00 |
|
Crawford-Sebastian Community Development Council, Inc. |
1 |
$3,000.00 |
|
Universal Housing Development Corp. |
1 |
$3,000.00 |
|
New or Existing |
No. Loans |
Dollar Amount |
|
Existing Construction |
2 |
$6,000.00 |
|
New or Proposed Construction |
1 |
$2,900.00 |
Demographics
|
Ethnicity |
No. Loans |
Dollar Amount |
Percent |
|
Non-Minorities |
3 |
$8,900.00 |
100.0% |
|
Minorities |
0 |
$0.00 |
0.0% |
|
Loan Cancellation Rate: |
0.0% |
TOTAL HOMEOWNERSHIP FY 2004: $925,798.00
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
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 |
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 |
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
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 |
1 |
$36,000,000.00 |
$36,000,000.00 |
|
Special Projects Fund |
0 |
$0.00 |
$0.00 |
TOTAL DEVELOPMENT FINANCE FY 2004: $36,000,000.00
TOTAL FUNDS FOR LOGAN COUNTY FY 2004
$36,925,798.00
|
Distribution of these total funds |
|
|
Homeownership |
$925,798.00 |
|
Housing Production |
$0.00 |
|
Development Finance |
$36,000,000.00 |