ANNUAL REPORT OF PROGRAM ACTIVITY

FISCAL YEAR 2005: July 1, 2004 – June 30, 2005

See “Statewide” Section for list of FY 2005 Bond Issuances

BENTON COUNTY

Part of Congressional District 3

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
39	*$3,330,331.00*	*$85,393.10*	*$84,050.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
Arkansas National Bank, Bentonville, AR	4	*$387,601.00*
Arvest Mortgage Company, Lowell, AR	11	*$890,750.00*
Pulaski Mortgage Company, Bentonville, AR	9	*$720,710.00*
Simmons First Mortgage, Rogers, AR	11	*$1,019,157.00*
Simmons First Mortgage of Little Rock, Lowell, AR	1	*$50,800.00*
Simmons First Mortgage of Little Rock, Siloam Springs, AR	3	*$261,313.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	32	*$2,618,678.00*
New or Proposed Construction	7	*$711,653.00*

Loans by Loan Type

Loan Type	No. Loans	Dollar Amount
FHA	18	*$1,450,862.00*
VA	0	*$0.00*
Conventional	1	*$95,000.00*
Rural Development	20	*$1,784,469.00*
Uninsured	0	*$0.00*
Other	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	35	*$2,934,131.00*	*89.7%*
Minorities	4	*$396,200.00*	*10.3%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$37,264.45*	*$39,552.00*
Minorities	*$38,379.00*	*$40,950.00*

Average Household Size:	*2.3*

Loan Cancellation Rate:	*33.9%*

DOWN PAYMENT ASSISTANCE PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
18	*$49,951.00*	*$2,775.06*	*46.2%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Argenta Neighborworks Homeownership Center, North Little Rock, AR	17	*$47,707.00*
Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR	1	*$2,244.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	14	*$38,867.00*
New or Proposed Construction	4	*$11,084.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	18	*$49,951.00*	*100.0%*
Minorities	0	*$0.00*	*0.0%*

Loan Cancellation Rate:			*35.7%*

ADDI LOAN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
1	*$5,000.00*	*$5,000.00*	*2.6%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Family Service Agency, Little Rock, AR	1	*$5,000.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	1	*$5,000.00*
New or Proposed Construction	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	1	*$5,000.00*	*100.0%*
Minorities	0	*$0.00*	*0.0%*

Loan Cancellation Rate:

50.0%

TOTAL HOMEOWNERSHIP:

$3,385,282.00

Total Economic Impact

Local Jobs Supported	22
Local Business Owners’ Income	*$183,260.00*
Local Wages & Salaries	*$824,110.00*
Local Government Revenue	*$129,990.00*

TOTAL MONETARY IMPACT	*$1,137,360.00*

HOUSING PRODUCTION

Program Statistics

HOME Allocations / Board Approvals FY 2005

	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*

Low-Income Housing Tax Credits / Board Approvals FY 2005

	No. Units	Federal LIHTC	State LIHTC	Total Funds	Average Per Unit
Acq / Rehab	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*
New Const.	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*

Total	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*

Multifamily Housing Bonds

	No. Units	Dollar Amount	Average per Unit
Acq / Rehab	0	*$0.00*	*$0.00*
New Const.	0	*$0.00*	*$0.00*

Total	0	*$0.00*	*$0.00*

TOTAL HOUSING PRODUCTION:

$0.00

Total Economic Impact

Local Jobs Supported	0
Local Business Owners’ Income	*$0.00*
Local Wages & Salaries	*$0.00*
Local Government Revenue	*$0.00*

TOTAL MONETARY IMPACT	*$0.00*

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	0	*$0.00*	*$0.00*
Wastewater Revolving Loan	0	*$0.00*	*$0.00*
Safe Drinking Water Revolving Loan	0	*$0.00*	*$0.00*
Bond Guaranty Reserve Fund	0	*$0.00*	*$0.00*
Capital Access Program	0	*$0.00*	*$0.00*
State Facilities Finance	0	*$0.00*	*$0.00*
Interim Loans with other Agencies	0	*$0.00*	*$0.00*
Special Projects Fund	0	*$0.00*	*$0.00*
Taxable Industrial Revenue Bonds	0	*$0.00*	*$0.00*

TOTAL DEVELOPMENT FINANCE:		$0.00

TOTAL FUNDS FOR BENTON COUNTY FY 2005

$3,385,282.00

Distribution of these total funds

		% Change from Previous Year
Homeownership	$3,385,282.00	-40.2%
Housing Production	$0.00	0.0%
Development Finance	$0.00	-100.0%
Overall	$3,385,282.00	-69.7%