ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

CROSS COUNTY

Part of Congressional District 1

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
11	*$811,965.00*	*$73,815.00*	*$71,425.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
First National Bank, Wynne, AR	1	*$49,608.00*
Pulaski Mortgage, Forrest City, AR	9	*$681,057.00*
Pulaski Mortgage, West Memphis, AR	1	*$81,300.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	11	*$811,965.00*
New or Proposed Construction	0	*$0.00*

Loans by Loan Type

Loan Type	No. Loans	Dollar Amount
FHA	4	*$284,070.00*
VA	0	*$0.00*
Conventional	0	*$0.00*
Rural Development	7	*$527,895.00*
Uninsured	0	*$0.00*
Other	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	9	*$664,665.00*	*81.8%*
Minorities	2	*$147,300.00*	*18.2%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$44,500.73*	*$45,036.00*
Minorities	*$41,998.86*	*$41,998.86*

Average Household Size:	*2.5*

Loan Cancellation Rate:	*15.4%*

DOWN PAYMENT ASSISTANCE PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT		MEAN LOAN AMT.	% of H2O (1^ST) LOANS
4		*$7,700.00*	*$1,925.00*		*36.4%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
In Affordable Housing, Inc., Little Rock, AR	1	*$2,500.00*
Mississippi County EOC, Blytheville, AR	3	*$5,200.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	4	*$7,700.00*
New or Proposed Construction	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	4	*$7,700.00*	*100.0%*
Minorities	0	*$0.00*	*0.0%*

Loan Cancellation Rate:

20.0%

ADDI LOAN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) 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:

0.0%

TOTAL HOMEOWNERSHIP:

$819,665.00

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*

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	6	*$209,484.00*
Tenant Based Rental Assistance	0	*$0.00*
Acq / Rehab	0	*$0.00*
TOTAL	6	*$209,484.00*
Average Amount per Unit		*$34,914.00*

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:

$209,484.00

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 CROSS COUNTY FY 2005

$1,029,149.00

Distribution of these total funds

		% Change from Previous Year
Homeownership	$819,665.00	+6.6%
Housing Production	$209,484.00	-16.1%
Development Finance	$0.00	0.0%
Overall	$1,029,149.00	-6.9%