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  1. Ashley
  2. Bradley
  3. Calhoun
  4. Chicot
  5. Clark
  6. Cleveland
  7. Columbia
  8. Dallas
  9. Desha
  10. Drew
  11. Garland
  12. Grant
  13. Hempstead
  14. Hot Spring
  15. Howard
  16. Jefferson
  17. Lafayette
  18. Lincoln
  19. Little River
  20. Miller
  21. Montgomery
  22. Nevada
  23. Ouachita
  24. Pike
  25. Sevier
  26. Union

 

 

ANNUAL REPORT OF PROGRAM ACTIVITY

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

 

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

 

CONGRESSSIONAL DISTRICT 4

 

HOMEOWNERSHIP

 

Counties:   Ashley, Bradley, Calhoun, Chicot, Clark, Cleveland, Columbia, Dallas, Desha, Drew, Garland, Grant, Hempstead, Hot Spring, Howard, Jefferson, Lafayette, Lincoln, Little River, Logan, Miller, Montgomery, Nevada, Ouachita, Pike, Polk, Scott, Sevier and Union

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

MEDIAN LOAN AMT.

72

$4,347,123.00

$60,376.71

$58,007.00

Loans by Originator

 

Originator/Branch

No. Loans

 

Dollar Amount

1st National Bank, Paris, AR

23

$1,279,400.00

Arvest Mortgage Company, Lowell, AR

2

$119,462.00

Bank of Dardanelle, Russellville, AR

1

$66,800.00

Countrywide Home Loans, Inc., North Little Rock, AR

1

$59,033.00

First Western Mortgage, Inc., Booneville, AR

4

$161,450.00

Metropolitan National Bank, Little Rock, AR

2

$136,986.00

Moore Mortgage, Lowell, AR

1

$57,596.00

Priority Bank, Ozark, AR

1

$78,000.00

Pulaski Mortgage Company,  Bryant, AR

1

$77,900.00

Pulaski Mortgage Company, Little Rock, AR

2

$127,889.00

Regions Mortgage Bank, Benton, AR

1

$71,872.00

Simmons First National Bank, Pine Bluff, AR

32

$2,049,736.00

Summit Bank, Inc., Benton, AR

1

$61,000.00

 

Loans by New or Existing


 

New or Existing

No. Loans

Dollar Amount

Existing Construction

71

$4,311,040.00

New or Proposed Construction

1

$36,083.00

 

Loans by Loan Type

 

Loan Type

No. Loans

Dollar Amount

FHA

52

$3,203,928.00

VA

0

$0.00

Conventional

2

$127,775.00

Rural Development

18

$1,015,420.00

Uninsured

0

$0.00

Other

0

$0.00

 

Demographics

 

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

50

$2,957,196.00

69.4%

Minorities

21

$1,330,894.00

29.2%

Unknown

1

$59,033.00

1.4%

 

Ethnicity

Mean Income

Median Income

Non-Minorities

$33,169.64

$31,788.00

Minorities

$35,399.78

$34,248.00

Unknown

$42,012.00

$42,012.00

 

Average Household Size:

2.3

 

 

Loan Cancellation Rate:

8.8%

 

DOWN PAYMENT ASSISTANCE PROGRAM

 Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

45

$125,335.00

$2,785.22

62.5%

 Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

Argenta Neighborworks Homeownership Center, North Little Rock, AR

2

$6,000.00

Community Resource Technicians, Little Rock. AR

2

$4,347.00

Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR

5

$13,695.00

Dream Makers Housing Counseling Agency, Inc., Pine Bluff, AR

30

$83,880.00

Family Service Agency, Little Rock, AR

1

$3,000.00

In Affordable Housing, Inc., Little Rock, AR

4

$11,413.00

Mississippi County EOC, Blytheville, AR

1

$3,000.00

 Loans by New or Existing

New or Existing

No. Loans

Dollar Amount

Existing Construction

43

$119,740.00

New or Proposed Construction

2

$5,595.00

 Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

22

$65,745.00

48.9%

Minorities

20

$50,997.00

44.4%

Unknown

3

$8,593.00

6.7%

 

Loan Cancellation Rate:

1.8%

 

ADDI LOAN PROGRAM

Loan Statistics

 

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

0

$0.00

$0.00

0.0%

Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

N/A

0

$0.00

 

Loans by New or Existing

 

New or Existing

No. Loans

Dollar Amount

Existing Construction

0

$0.00

New or Proposed Construction

0

$0.00

 

Demographics

 

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

0

$0.00

0.0%

Minorities

0

$0.00

0.0%

 

Loan Cancellation Rate:

100.0%

 

TOTAL HOMEOWNERSHIP:

$4,472,458.00

 

          Total Economic Impact

 

Local Jobs Supported

3

Local Business Owners’ Income

$26,180.00

Local Wages & Salaries

$117,730.00

Local Government Revenue

$18,570.00

 

 

TOTAL MONETARY IMPACT

$162,480.00

 

HOUSING PRODUCTION

 HOME Allocations / Board Approvals FY 2005

 Program Statistics

 

 

No. Units

 

HOME Funds

Rental New Construction

20

$800,000.00

Rental Rehab

0

$0.00

Homeowner New Construction

5

$440,000.00

Homeowner Rehab or Mortgage Subsidy

67

$2,997,273.00

Tenant Based Rental Assistance

66

$230,384.00

Acq / Rehab

24

$800,000.00

TOTAL

182

$5,267,657.00

Average Amount per Unit

 

$28,943.17

 Low-Income Housing Tax Credits / Board Approvals FY 2005

 

No. Units

 

Federal LIHTC

 

State LIHTC

 

Total Funds

Average

Per Unit

Acq / Rehab

242

$1,265,298.00

$80,000.00

$1,345,298.00

$5,683.00

New Const.

30

$279,101.00

$0.00

$279,101.00

$9,303.33

 

 

 

 

 

 

Total

272

$1,544,399.00

$80,000.00

$1,624,399.00

$5,972.06

 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:

$6,892,056.00

 

          Total Economic Impact

 

Local Jobs Supported

87

Local Business Owners’ Income

$809,600.00

Local Wages & Salaries

$3,307,700.00

Local Government Revenue

$557,700.00

 

 

TOTAL MONETARY IMPACT

$4,675,000.00

 

DEVELOPMENT FINANCE

 Program Statistics

 

Program

 

No. Projects

 

Project Amount

Average Project Amount

ADFA Bond Guaranty

1

$3,470,000.00

$3,470,000.00

AEDC/Other Bond Guaranty

1

$3,470,000.00

$3,470,000.00

Higher Education Facilities

1

$445,000.00

$445,000.00

Wastewater Revolving Loan

0

$0.00

$0.00

Safe Drinking Water Revolving Loan

2

$12,450,000.00

$6,225,000.00

Bond Guaranty Reserve Fund

1

$140,000.00

$140,000.00

Capital Access Program

5

$537,321.00

$107,464.20

State Facilities Finance

2

$82,650,000.00

$41,325,000.00

Interim Loans with other Agencies

1

$6,425,000.00

$6,425,000.00

Special Projects Fund

6

$14,377,500.00

$2,396,250.00

Taxable Industrial Revenue Bonds

0

$0.00

$0.00

 

TOTAL DEVELOPMENT FINANCE:

$123,964,821.00

 

SPECIAL VENTURE CAPITAL PROGRAM

Wound Therapy Company, Tennessee

Greater than 20% of total investment went into Clinic in Pine Bluff, AR

 

 

TOTAL FUNDS FOR CONG. DISTRICT 4 FY 2005

$135,329,335.00

 

 

Distribution of these total funds

 

 

% Change From Previous Year

Homeownership

$4,472,458.00

-33.9%

Housing Production

$6,.892,056.00

+45.4%

Development Finance

$123,964,821.00

+42.6%

Overall

$135,329,335.00

+39.7%