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Statewide Statistics

Fiscal Year 2004

Statewide Statistics

Congressional
District 1

Congressional
District 2

Congressional
District 3

Congressional
District 4

Click Here For Program Activity for FY 2002 & 2003

Click Here For Program Activity for FY 2001

ANNUAL REPORT OF PROGRAM ACTIVITY
FISCAL YEAR 2004: July 1, 2003 – June 30, 2004

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

STATEWIDE

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT
*1,161*	*$84,199,117.00*	*$72,522.93*	*71,500.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
*1^st Community Bank, Conway, AR*	3	*$227,928.00*
*1^st Home Mortgage, Inc., Jonesboro, AR*	33	*$1,937,848.00*
*1^st National Bank & Trust, Mountain Home, AR*	20	*$1,270,250.00*
*1^st National Bank, Paris, AR*	17	*$1,033,190.00*
*1^st Security, Searcy, AR*	31	*$2,363,583.00*
*Arkansas National Bank, Bentonville, AR*	6	*$521,410.00*
*Arkansas National Bank, Rogers, AR*	1	*$67,400.00*
*Arvest Mortgage Company, Lowell, AR*	85	*$5,840,267.00*
*BancorpSouth, Fort Smith, AR*	3	*$200,317.00*
*BancorpSouth, Van Buren, AR*	38	*$2,413,367.00*
*Bank of Dardanelle, Dardanelle, AR*	8	*$635,630.00*
*Bank of Dardanelle, Russellville, AR*	5	*$316,548.00*
*Bank of Little Rock, West Memphis, AR*	1	*$95,600.00*
*Bank of the Ozarks, Fort Smith, AR*	1	*$78,500.00*
*Bank of the Ozarks, Little Rock, AR*	8	*$568,799.00*
*Bank of Yellville, Yellville, AR*	1	*$70,000.00*
*Benefit Bank, Fort Smith, AR*	*119*	*$8,814,731.00*
*Citizens Bank & Trust, Fort Smith, AR*	14	*$1,136,632.00*
*Citizens Bank & Trust, Van Buren, AR*	9	*$599,148.00*
*Community First Bank, Harrison, AR*	35	*$2,470,225.00*
*Community Home Lenders, Inc., Cabot, AR*	23	*$2,050,385.00*
*Cor, Little Rock, AR*	1	*$46,175.00*
*Countrywide Home Loans, Inc., Jonesboro, AR*	5	*$397,494.00*

*Countrywide Home Loans, Inc., North Little Rock, AR*	44	*$3,464,576.00*
*Farmers Bank of Greenwood, Fort Smith, AR*	1	*$89,000.00*
*Farmers Bank of Greenwood, Greenwood, AR*	4	*$215,000.00*
*First Arkansas Mortgage, Jacksonville, AR*	4	*$237,980.00*
*First Arkansas Valley Bank, Russellville, AR*	24	*$1,488,349.00*
*First Arkansas Valley Bank, Searcy, AR*	1	*$84,333.00*
*First Financial Bank, Jonesboro, AR*	4	*$261,993.00*
*First Financial Bank, North Little Rock, AR*	3	*$259,329.00*
*First Security Bank, Mountain Home, AR*	1	*$77,200.00*
*First Trust Mortgage Company, Jonesboro, AR*	3	*$184,593.00*
*First Trust Mortgage Company, West Memphis, AR*	7	*$603,566.00*
*First Western Mortgage, Inc., Booneville, AR*	10	*$615,500.00*
*FT Mortgage Companies, West Memphis, AR*	20	*$1,802,004.00*
*Guaranty Loan, West Memphis, AR*	1	*$134,000.00*
*Heartland Community Bank, Bryant, AR*	1	*$89,195.00*
*Heartland Community Bank, Monticello, AR*	1	*$61,750.00*
*Logan Finance, Blytheville, AR*	1	*$69,100.00*
*Metropolitan National Bank, Little Rock, AR*	32	*$2,365,654.00*
*Moore Mortgage, Lowell, AR*	2	*$146,768.00*
*NARDIC, Fort Smith, AR*	7	*$557,903.00*
*Priority Bank, Ozark, AR*	17	*$1,081,450.00*
*Pulaski Mortgage Company, Bentonville, AR*	3	*$253,735.00*
*Pulaski Mortgage Company, Bryant, AR*	5	*$419,498.00*
*Pulaski Mortgage Company, Conway, AR*	3	*$270,730.00*
*Pulaski Mortgage Company, Forrest City, AR*	25	*$1,760,656.00*
*Pulaski Mortgage Company, Little Rock, AR*	76	*$5,151,615.00*
*Pulaski Mortgage Company, Russellville, AR*	2	*$117,980.00*
*Pulaski Mortgage Company, West Memphis, AR*	*117*	*$10,982,389.00*
*Regions Mortgage, Inc., Benton, AR*	7	*$524,044.00*
*Regions Mortgage, Inc., Little Rock, AR*	31	*$2,044,912.00*
*Regions Mortgage, Inc., North Little Rock, AR*	18	*$1,222,869.00*
*Regions Mortgage, Inc., Searcy, AR*	1	*$80,960.00*
*Simmons First Bank, Jonesboro, AR*	2	*$145,800.00*
*Simmons First Bank, Russellville, AR*	31	*$2,012,600.00*
*Simmons First Mortgage, Little Rock, AR*	9	*$551,680.00*
*Simmons First Mortgage, Lowell, AR*	6	*$500,152.00*
*Simmons First Mortgage, Rogers, AR*	39	*$2,948,710.00*
*Simmons First Mortgage, Searcy, AR*	2	*$120,013.00*
*Simmons First Mortgage, Springdale, AR*	3	*$282,422.00*
*Simmons First National Bank, Pine Bluff, AR*	69	*$3,917,051.00*
*Summit Bank, Arkadelphia, AR*	7	*$549,350.00*
*Superior Federal Bank, Fort Smith, AR*	22	*$1,320,900.00*
*Superior Federal Bank, Little Rock, AR*	5	*$329,000.00*
*The Carroll Mortgage Group, Inc., Little Rock, AR*	12	*$925,911.00*
*The Kissell Company, Little Rock, AR*	1	*$40,899.00*
*Union Bank of Benton, Benton, AR*	5	*$374,179.00*
*Union Planters, Jonesboro, AR*	1	*$67,933.00*
*United Bank of Springdale, Lowell, AR*	1	*$51,095.00*
*US Bank Home Mortgage*	3	*$187,364.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	*967*	*$66,018,064.00*
New or Proposed Construction	*194*	*$18,181,053.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	*751*	*$56,078,976.00*	*64.7%*
Minorities	*410*	*$28,120,141.00*	*35.3%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$35,116.10*	*$34,344.00*
Minorities	*$34,225.71*	*$33,670.92*

Average Household Size:	*2.3*

Loan Cancellation Rate:	*20.8%*

DOWN PAYMENT ASSISTANCE PROGRAM

Current Participating Homebuyer Counselors Statewide

HOMEBUYER COUNSELOR	COUNTY	CONG DIST	PHONE NUMBER	WEBSITE
South Arkansas Community Development, Arkadelphia, AR	Clark	4	870.230.1717	www.arcommunity.com/sacd_001.htm
Crowley's Ridge Development Council, Inc., Jonesboro, AR	Craighead	1	870.935.8610	www.crdcnea.com
Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR	Crawford	3	479.785.2303	www.cscdccaa.org
Legal Aid of Arkansas, West Memphis, AR	Crittenden	1	870.732.6370	www.arlegalaid.org
Community Service Office, Inc., Hot Springs, AR	Garland	4	501.624.5724
Central Arkansas Development Council, Malvern, AR	Hot Spring	4	501.315.1121	www.cadconline.net
Dream Makers Housing Counseling Agency, Inc., Pine Bluff, AR	Jefferson	4	501.225.4328
Southwest Arkansas Development Council, Inc., Texarkana, AR	Miller	4	870.773.5504
Mississippi County Arkansas E.O.C., Blytheville, AR	Mississippi	1	870.532.2348
Universal Housing Development Corporation, Russellville, AR	Pope	3	479.968.5001
Argenta Neighborworks Homeownership Center, North Little Rock, AR	Pulaski	2	501.372.6936
Central Arkansas Development Council, Little Rock, AR	Pulaski	2	501.565.7054	www.cadconline.net
Family Service Agency, Little Rock, AR	Pulaski	2	501.753.0202
In Affordable Housing, Inc., Little Rock, AR	Pulaski	2	501.221.2203
Central Arkansas Development Council, Benton, AR	Saline	2	501.315.1121	www.cadconline.net
Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR	Sebastian	3	479.785.2303	www.cscdccaa.org
Family Service Agency, Springdale, AR	Washington	3	479.751.4575
ARVAC, Inc., Dardanelle, AR	Yell	2	479.229.4861

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
*625*	*$1,654,404.50*	*$2,643.98*	*53.9%*

Loans by Homebuyer Counselor

HOMEBUYER COUNSELOR	NO. LOANS	DOLLAR AMOUNT
*Argenta Neighborworks Homeownership Center*	38	*$104,365.00*
*ARVAC, Inc.*	12	*$34,289.00*
*Community Resource Tech*	4	*$11,500.00*
*Crawford-Sebastian Community Development Council, Inc.*	*148*	*$378,034.00*
*Dream Makers Housing Counseling Agency, Inc.*	60	*$159,525.00*
*Family Service Agency*	80	*$211,702.00*
*In Affordable Housing*	*227*	*$607,215.50*
*Legal Aid of Arkansas*	18	*$47,026.00*
*Mississippi County Arkansas E.O.C.*	8	*$19,279.00*
*South Arkansas Community Development*	2	*$5,700.00*
*Universal Housing Development Corporation*	28	*$75,769.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	*555*	*$1,466,574.50*
New or Proposed Construction	69	*$187,830.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	*355*	*$935,880.50*	*56.7%*
Minorities	*271*	*$718,524.00*	*43.3%*

Loan Cancellation Rate: 14.6%

TOTAL HOMEOWNERSHIP FY 2004: $85,853,521.50

Total Economic Impact

Local Jobs Supported: 611

Local Business Owner’s Income: $5,078,920.00

Local Wages & Salaries: $22,839,620.00

Local Government Revenue: $3,602,580.00

TOTAL MONETARY IMPACT: $31,521,120.00

HOUSING PRODUCTION

Affordable Housing Partners Serving Statewide

ARC of Arkansas, Little Rock, AR

Arkansas Land and Farm Development Corporation, Brinkley, AR

Arrington Development, Madison, MS

Billy W. Bunn, Arkadelphia, AR

Birch Tree Communities, Benton, AR

Bost, Inc.

Bradley Housing Authority, Warren, AR

City of Anthonyville

City of England

City of Holly Grove

City of Jericho

City of Murfreesboro, AR

City of Palestine

City of Springdale

City of Sunset

City of Warren

Clarksville Housing Associates II

Conine Realty Advisers, Inc., Frisco, TX
For Us, Inc.
JPM Group, Jacksonville, FL
Little Rock Housing Redevelopment, Inc., Little Rock, AR
Pathfinder, Inc.
The Resource Foundation, Nashville, TN

Dale Lancaster, Madison, MS

DCP Development, Dumas, AR

EASPI, Inc.

ERC Partners of Arkansas, Fort Smith, AR

ERC Properties, Fort Smith, AR

Faith Outreach

Family Service Agency, Inc., North Little Rock, AR

For Us, Inc.

Forge HOR

Harold E. Buehler, Sr. & Jo Ellen Buehler, Memphis, TN

Harrison Housing Authority

Health Resources of Arkansas, Inc., Batesville, AR

Lakeshore Planning & Development Corporation

Leisure Homes, Mountain Home, AR

Life Styles, Inc.

Osceola HOR

Reed HOR

RichSmith Development, North Little Rock, AR

Ronald-Ragon, Fort Smith, AR

Seaside Development Services CDC

South Arkansas Community Development

Southland Properties, Inc., Dumas, AR

Sunbelt Development Corporation, Little Rock, AR

Sunbelt Housing Corporation, Little Rock, AR

Thomas J. Embach, Mountain Home, AR

United Development Corporation, Memphis, AR

Watson HOR

White River Housing Authority

White River Regional Housing Authority

William Keith Richardson Trust, North Little Rock

William P. Joseph, Jr., Jackson, MS

Zimmerman Properties, Springfield, MO

HOME Allocations / Board Approvals FY 2004

Program Statistics

	No. Units	HOME Funds
Rental New Construction	60	*$1,180,000.00*
Rental Rehab	51	*$1,174,000.00*
Homeowner New Construction	10	*$650,000.00*
Homeowner Rehab or Mortgage Subsidy	72	*$2,396,101.00*
Tenant Based Rental Assistance	*Tenants – 324*	*$1,387,063.00*
Acq / Rehab	36	*$350,000.00*
TOTAL	*Tenants – 324* *Units – 229*	*$7,137,164.00*
Average Amount per Unit		*Tenants - $4,281.06* *Units - $25,109.61*

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

750

$8,400,000.00

$4,013,720.00

$1,534,000.00

$13,947,720.00

Rental Rehab

$0.00

$348,420.00

$365,000.00

$713,420.00

Homeowner New Construction	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*
Homeowner Rehab or Mortgage Subsidy	94	*$0.00*	*$0.00*	*$2,935,209.46*	*$2,935,209.46*
Tenant Based Rental Assistance	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*
Acq / Rehab	*353*	*$0.00*	*$1,053,487.00*	*$1,480,711.00*	*$2,534,198.00*
TOTAL	*1,240*	*$8,400,000.00*	*$5,415,627.00*	*$6,314,920.46*	*$20,130,547.46*
Average Amount per Unit					*$16,234,31*

TOTAL HOUSING PRODUCTION FY 2004: $20,130,547.46

Total Economic Impact

Local Jobs Supported: 1,193

Local Business Owner’s Income: $11,040,000.00

Local Wages & Salaries: $45,105,000.00

Local Government Revenue: $7,605,000.00

TOTAL MONETARY IMPACT: $63,750,000.00

DEVELOPMENT FINANCE

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	1	*$300,000.00*	*$300,000.00*
Wastewater Revolving Loan	5	*$49,100,000.00*	*$9,820,000.00*
Safe Drinking Water Revolving Loan	3	*$15,760,363.00*	*$5,253,454.33*
ADFA-Originated Loans	0	*$0.00*	*$0.00*
Bond Guaranty Reserve Fund	1	*$100,000.00*	*$100,000.00*
Capital Access Program	7	*$452,085.00*	*$64,583.57*
Disadvantaged Business Enterprise	0	*$0.00*	*$0.00*
Beginning Farmer	0	*$0.00*	*$0.00*
Governmental Conduits	3	*$65,800,000.00*	*$21,933,333.33*
Special Project Fund	3	*$10,687,025.00*	*$3,562,341.67*

TOTAL DEVELOPMENT FINANCE FY 2004: $142,199,473.00

TOTAL FUNDS FOR STATEWIDE FY 2004

$248,183,541.96

Distribution of these total funds
Homeownership	*$85,853,521.50*
Housing Production	*$20,130,547.46*
Development Finance	*$142,199,473.00*

FY 2004 BOND ISSUANCE

August 2003

Single Family Mortgage Revenue Notes – Series 2003
Closed August 28, 2003
$250,000,000.00

October 2003

Single Family Mortgage Revenue Bonds, 2003 Series C, D & E
Closed October 1, 2003
$67,025,000.00

December 2003

Multifamily Housing Revenue Bonds – Series 2003 A
ChapelRidge of North Little Rock
Closed December 19, 2003
$8,400,000.00

ADFA Construction Revenue Bonds – Series 2003
Public Health Laboratory
Closed December 23, 2003
$26,000,000.00

February 2004

State Park Facilities – Mt. Magazine Project
Closed February 3, 2004
$36,000,000.00

Single Family Revenue Bonds – 2004 Series A
Closed February 26, 2004
$30,000,000.00

May 2004

Wastewater System Revolving Loan Fund Revenue Bonds – 2004 Refunding Series A
Closed May 12, 2004
$35,855,000.00

SUMMARY STATISTICS

COUNTY	CD	HOMEOWNERSHIP DOLLARS	HOUSING PRODUCTION DOLLARS	DEVELOPMENT FINANCE DOLLARS	TOTAL DOLLARS
Arkansas	1	$65,000.00	$129,605.00	$0.00	$194,605.00
Ashley	4	$0.00	$0.00	$5,500,000.00	$5,500,000.00
Baxter	1	$1,378,800.00	$116,134.00	$0.00	$1,494,934.00
Benton	3	$5,661,333.00	$0.00	$5,500,000.00	$11,161,333.00
Boone	3	$1,942,875.00	$0.00	$33,367.00	$1,976,242.00
Bradley	4	$0.00	$102,358.00	$0.00	$102,358.00
Calhoun	4	$0.00	$0.00	$0.00	$0.00
Carroll	3	$1,223,150.00	$24,879.00	$75,000.00	$1,323,029.00
Chicot	4	$0.00	$236,267.00	$3,500,000.00	$3,736,267.00
Clark	4	$555,050.00	$504,920.00	$2,778,027.00	$3,837,997.00
Clay	1	$0.00	$0.00	$0.00	$0.00
Cleburne	1	$154,164.00	$0.00	$0.00	$154,164.00
Cleveland	1	$0.00	$0.00	$0.00	$0.00
Columbia	4	$0.00	$0.00	$0.00	$0.00
Conway	2	$304,718.00	$0.00	$0.00	$304,718.00
Craighead	1	$1,573,682.00	$660,000.00	$0.00	$2,233,682.00
Crawford	3	$7,433,700.00	$98,000.00	$0.00	$7,531,700.00
Crittenden	1	$14,190,029.00	$988,000.00	$0.00	$15,178,029.00
Cross	1	$765,832.00	$249,824.00	$0.00	$1,105,656.00
Dallas	4	$0.00	$0.00	$0.00	$0.00
Desha	4	$0.00	$1,549,394.00	$6,187,025.00	$7,736,419.00
Drew	4	$144,529.00	$0.00	$0.00	$144,529.00
Faulkner	2	$3,693,334.00	$660,000.00	$0.00	$4,353,334.00
Franklin	3	$1,205,191.00	$0.00	$0.00	$1,205,191.00
Fulton	1	$0.00	$0.00	$0.00	$0.00
Garland	4	$203,893.00	$439,394.00	$5,765,000.00	$6,408,287.00
Grant	4	$172,787.00	$0.00	$0.00	$172,787.00
Greene	1	$0.00	$0.00	$1,000,000.00	$1,000,000.00
Hempstead	4	$0.00	$102,989.00	$0.00	$102,989.00
Hot Spring	4	$0.00	$0.00	$10,812,336.00	$10,812,336.00
Howard	4	$0.00	$0.00	$0.00	$0.00
Independence	1	$0.00	$0.00	$0.00	$0.00
Izard	1	$0.00	$0.00	$0.00	$0.00
Jackson	1	$360,697.00	$0.00	$1,000,000.00	$1,360,697.00
Jefferson	4	$3,864,115.00	$0.00	$3,800,000.00	$7,664,115.00
Johnson	3	$763,208.00	$635,000.00	$0.00	$1,398,208.00
Lafayette	4	$0.00	$65,000.00	$133,408.00	$198,408.00
Lawrence	1	$77,106.00	$0.00	$0.00	$77,106.00
Lee	1	$151,646.00	$0.00	$0.00	$151,646.00
Lincoln	4	$0.00	$348,988.00	$0.00	$348,988.00
Little River	4	$0.00	$0.00	$0.00	$0.00
Logan	4	$925,798.00	$0.00	$36,000,000.00	$36,925,798.00
Lonoke	1	$2,919,775.00	$0.00	$0.00	$2,919,775.00
Madison	3	$310,730.00	$37,792.00	$0.00	$348,522.00
Marion	3	$510,450.00	$481,350.00	$0.00	$991,800.00
Miller	4	$0.00	$665,643.00	$2,380,310.00	$3,045,953.00
Mississippi	1	$221,350.00	$230,000.00	$300,000.00	$751,350.00
Monroe	1	$218,440.00	$228,371.00	$0.00	$446,811.00
Montgomery	4	$0.00	$0.00	$0.00	$0.00
Nevada	4	$0.00	$0.00	$0.00	$0.00
Newton	3	$158,000.00	$0.00	$0.00	$158,000.00
Ouachita	4	$118,170.00	$95,068.00	$0.00	$213,238.00
Perry	2	$0.00	$0.00	$0.00	$0.00
Phillips	1	$0.00	$0.00	$0.00	$0.00
Pike	4	$0.00	$0.00	$0.00	$0.00
Poinsett	1	$476,788.00	$0.00	$1,000,000.00	$1,476,788.00
Polk	4	$0.00	$0.00	$0.00	$0.00
Pope	3	$2,435,971.00	$0.00	$0.00	$2,435,971.00
Prairie	1	$0.00	$28,173.00	$0.00	$28,173.00
Pulaski	2	$10,311,983.00	$9,680,000.00	$63,100,000.00	$83,091,983.00
Randolph	1	$47,900.00	$0.00	$0.00	$47,900.00
St. Francis	1	$614,104.00	$1,048,344.00	$0.00	$1,662,448.00
Saline	2	$3,540,852.00	$300,000.00	$0.00	$3,840,852.00
Scott	4	$777,240.00	$0.00	$0.00	$777,240.00
Searcy	1	$0.00	$0.00	$0.00	$0.00
Sebastian	3	$9,952,426.00	$642,520.00	$0.00	$10,594,946.00
Sevier	4	$0.00	$0.00	$0.00	$0.00
Sharp	1	$0.00	$57,790.00	$0.00	$57,790.00
Stone	1	$0.00	$0.00	$0.00	$0.00
Union	4	$0.00	$0.00	$750,000.00	$750,000.00
Van Buren	2	$0.00	$0.00	$0.00	$0.00
Washington	3	$2,335,374.00	$24,995.00	$0.00	$2,360,369.00
White	2	$2,226,805.50	$49,749.46	$100,000.00	$2,376,554.96
Woodruff	1	$106,939.00	$0.00	$0.00	$106,939.00
Yell	2	$1,759,587.00	$0.00	$0.00	$1,759,587.00

COMMENTS CONCERNING ANNUAL REPORT
OF PROGRAM ACTIVITY

Statistics compiled by Judy Brummett, ADFA Research Manager.

Additional breakdown by town, census tracts, state senate or house district are available by e-mailing request to jbrummett@adfa.state.ar.us

Total Economic Impact for Homeownership and Housing Production were calculated by utilizing the National Association of Homebuyer’s formula for determining direct and indirect impact of construction and sales activity.

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