ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

LONOKE COUNTY

Part of Congressional District 1

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
11	*$901,305.00*	*$81,936.82*	*$81,657.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
Bank of the Ozarks, Little Rock, AR	3	*$296,188.00*
Community Home Lenders, Inc., Cabot, AR	1	*$82,148.00*
Countrywide Home Loans, Inc., North Little Rock, AR	1	*$64,980.00*
First Arkansas Mortgage, Jacksonville, AR	1	*$79,900.00*
First Security Bank, Searcy, AR	1	*$98,000.00*
Pulaski Mortgage Company, Little Rock, AR	3	*$196,453.00*
The Carroll Mortgage Group, Inc., Little Rock, AR	1	*$83,636.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	10	*$804,074.00*
New or Proposed Construction	1	*$97,231.00*

Loans by Loan Type

Loan Type	No. Loans	Dollar Amount
FHA	6	*$442,300.00*
VA	0	*$0.00*
Conventional	0	*$0.00*
Rural Development	5	*$459,005.00*
Uninsured	0	*$0.00*
Other	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	9	*$767,965.00*	*81.8%*
Minorities	1	*$68,360.00*	*9.1%*
Unknown	1	*$64,980.00*	*9.1%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$36,208.00*	*$36,468.00*
Minorities	*$36,360.00*	*$36,360.00*
Unknown	*$34,572.00*	*$34,572.00*

Average Household Size:	*2.1*

Loan Cancellation Rate:	*21.4%*

DOWN PAYMENT ASSISTANCE PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
5	*$14,350.00*	*$2,870.00*	*45.5%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Community Resource Technicians, Little Rock, AR	1	*$3,000.00*
Dream Makers Housing Counseling Agency, Inc., Pine Bluff, AR	2	*$5,600.00*
In Affordable Housing, Inc., Little Rock, AR	2	*$5,750.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	4	*$11,350.00*
New or Proposed Construction	1	*$3,000.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	3	*$8,600.00*	*60.0%*
Minorities	1	*$3,000.00*	*20.0%*
Unknown	1	*$2,750.00*	*20.0%*

Loan Cancellation Rate:

16.7%

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:

$915,655.00

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

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	2	*$104,500.00*
Tenant Based Rental Assistance	0	*$0.00*
Acq / Rehab	0	*$0.00*
TOTAL	2	*$104,500.00*
Average Amount per Unit		*$52,250.00*

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:

$104,500.00

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	1	*$8,000,000.00*	*$8,000,000.00*
Bond Guaranty Reserve Fund	1	*$280,000.00*	*$280,000.00*
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:

$8,280,000.00

TOTAL FUNDS FOR LONOKE COUNTY FY 2005

$9,300,155.00

Distribution of these total funds

		% Change from Previous Year
Homeownership	$915,655.00	-68.6%
Housing Production	$104,500.00	+100.0%
Development Finance	$8,280,000.00	+100.0%
Overall	$9,300,155.00	+68.6%