ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

CRAWFORD COUNTY

Part of Congressional District 3

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
58	*$4,355,025.00*	*$75,086.64*	*$75,395.50*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
Arvest Mortgage Company, Lowell, AR	6	*$397,667.00*
BancorpSouth, Fort Smith, AR	9	*$580,384.00*
Benefit Bank, Fort Smith, AR	25	*$2,020,968.00*
Citizens Bank & Trust, Fort Smith, AR	3	*$154,635.00*
Citizens Bank & Trust, Van Buren, AR	3	*$184,652.00*
Farmers Bank of Greenwood, Fort Smith, AR	2	*$177,600.00*
First Financial Bank, Fort Smith, AR	2	*$155,600.00*
NARDIC, Fort Smith, AR	2	*$181,352.00*
Pulaski Mortgage Company, Bentonville, AR	1	*$96,735.00*
Regions Mortgage, Inc., Little Rock, AR	1	*$90,186.00*
Simmons First Mortgage Company, Little Rock, AR	4	*$315,246.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	41	*$2,886,450.00*
New or Proposed Construction	17	*$1,468,575.00*

Loans by Loan Type

Loan Type	No. Loans	Dollar Amount
FHA	31	*$1,971,248.00*
VA	1	*$115,372.00*
Conventional	0	*$0.00*
Rural Development	26	*$2,268,405.00*
Uninsured	0	*$0.00*
Other	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	40	*$2,950,984.00*	*69.0%*
Minorities	18	*$1,404,041.00*	*31.0%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$39,520.65*	*$39,456.00*
Minorities	*$36,411.44*	*$35,103.60*

Average Household Size:	*2.7*

Loan Cancellation Rate:	*18.3%*

DOWN PAYMENT ASSISTANCE PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
33	*$82,270.00*	*$2,493.03*	*56.9%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR	33	*$82,270.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	31	*$76,610.00*
New or Proposed Construction	2	*$5,660.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	23	*$55,274.00*	*69.7%*
Minorities	10	*$26,996.00*	*30.3%*

Loan Cancellation Rate:

19.5%

ADDI LOAN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
2	*$8,318.00*	*$4,159.00*	*3.4%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR	2	*$8,318.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	2	*$8,318.00*
New or Proposed Construction	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	1	*$5,000.00*	*50.0%*
Minorities	1	*$3,318.00*	*50.0%*

Loan Cancellation Rate:

33.3%

TOTAL HOMEOWNERSHIP:

$4,445,613.00

Total Economic Impact

Local Jobs Supported	54
Local Business Owners’ Income	*$445,060.00*
Local Wages & Salaries	*$2,001,410.00*
Local Government Revenue	*$315,690.00*

TOTAL MONETARY IMPACT	*$2,762,160.00*

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	16	*$195,000.00*
Tenant Based Rental Assistance	0	*$0.00*
Acq / Rehab	0	*$0.00*
TOTAL	16	*$195,000.00*
Average Amount per Unit		*$12,187.50*

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:

$195,000.00

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 CRAWFORD CNTY FY 2005

$4,640,613.00

Distribution of these total funds

		% Change from Previous Year
Homeownership	$4,445,613.00	-40.2%
Housing Production	$195,000.00	+49.7%
Development Finance	$0.00	0.0%
Overall	$4,640,613.00	-38.4%