ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

LONOKE COUNTY

Part of Congressional District 1

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Current Participating Lenders Located in County

AgHeritage Farm Credit Services, Lonoke, AR 501.676.0898

www.agheritagefcs.com

Community Home Lenders, Inc., Lonoke, AR 501.843.8264

www.communityhl.net

First Security Bank, Cabot, AR 501.941.2265

www.firstsecuritybank.org

Regions Mortgage, Inc., Cabot, AR 501.843.3529

www.regions.com

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
35	*$2,883,948.00*	*$82,398.51*	*$85,075.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
Community Home Lenders, Inc., Cabot, AR	19	*$1,642,385.00*
First Financial Bank, North Little Rock, AR	1	*$87,526.00*
First Arkansas Mortgage, Jacksonville, AR	2	*$139,400.00*
Countrywide Home Loans, Inc., North Little Rock, AR	7	*$529,543.00*
Regions Mortgage, Inc., North Little Rock, AR	1	*$68,820.00*
Metropolitan National Bank, Little Rock, AR	1	*$62,518.00*
Pulaski Mortgage Company, Little Rock, AR	2	*$211,382.00*
Simmons 1^st National Bank, Pine Bluff, AR	1	*$69,451.00*
1^st Security, Searcy, AR	1	*$72,923.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	29	*$2,321,766.00*
New or Proposed Construction	6	*$562,182.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	28	*$2,280,939.00*	*80.0%*
Minorities	7	*$603,009.00*	*20.0%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$37,624.47*	*$40,260.96*
Minorities	*$34,600.72*	*$40,812.00*

Average Household Size:	*2.3*

Loan Cancellation Rate:	*23.9%*

DOWN PAYMENT ASSISTANCE PROGRAM

Current Participating Homebuyer Counselors Located in County

None

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
13	*$35,827.00*	*$2,755.92*	*37.1%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Argenta Neigborhworks Homeownership Center	2	*$5,300.00*
Dream Makers Housing Counseling Agency, Inc.	1	*$3,000.00*
In Affordable Housing, Inc.	10	*$27,527.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	11	*$29,827.00*
New or Proposed Construction	2	*$6,000.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	7	*$19,681.00*	*53.8%*
Minorities	6	*$16,146.00*	*46.2%*

Loan Cancellation Rate:

27.8%

TOTAL HOMEOWNERSHIP FY 2004: $2,919,775.00

Total Economic Impact

Local Jobs Supported: 19

Local Business Owner’s Income: $157,080.00

Local Wages & Salaries: $706,380.00

Local Government Revenue: $111,420.00

TOTAL MONETARY IMPACT: $974,880.00

HOUSING PRODUCTION

Affordable Housing Partners Serving County

City of England (HOME Program)

For Us, Inc. (HOME Program)

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	*7.5*	*$324,902.50*
Tenant Based Rental Assistance	0	*$0.00*
Acq / Rehab	0	*$0.00*
TOTAL	*7.5*	*$324,902.50*
Average Amount per Unit		*$43,320.33*

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

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 LONOKE COUNTY FY 2004

$2,919,775.00

Distribution of these total funds
Homeownership	*$2,919,775.00*
Housing Production	*$0.00*
Development Finance	*$0.00*

Statewide Statistics / Congressional District 1