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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

1st Community Bank, Conway, AR

3

$227,928.00

1st Home Mortgage, Inc., Jonesboro, AR

33

$1,937,848.00

1st National Bank & Trust, Mountain Home, AR

 

20

 

$1,270,250.00

1st National Bank, Paris, AR

17

$1,033,190.00

1st 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 (1ST) 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

 

43

 

$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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