ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

PULASKI COUNTY

Part of Congressional District 2

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
87	*$6,363,104.00*	*$73,139.13*	*$75,318.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
Arkansas Federal Credit Union, Jacksonville, AR	2	*$139,050.00*
Arvest Mortgage Company, Lowell, AR	8	*$550,258.00*
Bank of the Ozarks of Fort Smith, Little Rock, AR	3	*$194,651.00*
Cornerstone Mortgage Center, Little Rock, AR	3	*$195,812.00*
Countrywide Home Loans, Inc., North Little Rock, AR	4	*$342,955.00*
First Arkansas Mortgage, Jacksonville, AR	2	*$194,947.00*
First Financial Bank, North Little Rock, AR	1	*$93,532.00*
Metropolitan National Bank, Little Rock, AR	6	*$502,365.00*
Moore Mortgage, Lowell, AR	1	*$64,490.00*
Pulaski Mortgage Company, Little Rock, AR	23	*$1,674,109.00*
Regions Mortgage, Inc., Little Rock, AR	24	*$1,747,503.00*
Simmons First National Bank, Pine Bluff, AR	2	*$109,660.00*
The Carroll Mortgage Group, Inc., Little Rock, AR	6	*$432,802.00*
US Bank Home Mortgage, North Little Rock, AR	2	*$120,970.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	75	*$5,226,064.00*
New or Proposed Construction	12	*$1,137,040.00*

Loans by Loan Type

Loan Type	No. Loans	Dollar Amount
FHA	83	*$6,000,739.00*
VA	2	*$213,623.00*
Conventional	1	*$73,742.00*
Rural Development	1	*$75,000.00*
Uninsured	0	*$0.00*
Other	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	33	*$2,388,094.00*	*37.9%*
Minorities	51	*$3,759,051.00*	*58.6%*
Unknown	3	*$215,959.00*	*3.4%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$37,668,00*	*$34,951.44*
Minorities	*$36,197.18*	*$36,447.24*
Unknown	*$30,598.40*	*$17,916.00*

Average Household Size:	*2.3*

Loan Cancellation Rate:	*31.0%*

DOWN PAYMENT ASSISTANCE PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
58	*$156,141.00*	*$2,692.09*	*66.7%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Argenta Neighborworks Homeownership Center, North Little Rock, AR	13	*$32,438.00*
Community Resource Technicians, Little Rock, AR	12	*$34,850.00*
Crawford Sebastian County CDC, Fort Smith, AR	1	*$2,200.00*
Dream Makers Housing Counseling Agency, Inc., Pine Bluff, AR	8	*$20,736.00*
Family Service Agency, Little Rock, AR	1	*$3,000.00*
In Affordable Housing, Inc., Little Rock, AR	23	*$62,917.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	51	*$138,051.00*
New or Proposed Construction	7	*$18,090.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	23	*$60,493.00*	*39.7%*
Minorities	31	*$84,283.00*	*53.4%*
Unknown	4	*$11,365.00*	*6.9%*

Loan Cancellation Rate:

27.5%

ADDI LOAN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
8	*$37,534.00*	*$4,691.75*	*9.2%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Community Resource Technicians, Little Rock, AR	3	*$15,000.00*
Dream Makers Housing Counseling Agency, Pine Bluff, AR	1	*$4,455.00*
In Affordable Housing, Inc., Little Rock, AR	3	*$13,079.00*
Mississippi County EOC, Blytheville, AR	1	*$5,000.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	6	*$28,079.00*
New or Proposed Construction	2	*$9,455.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	1	*$5,000.00*	*12.5%*
Minorities	7	*$32,534.00*	*87.5%*

Loan Cancellation Rate:

20.0%

TOTAL HOMEOWNERSHIP:

$6,556,779.00

Total Economic Impact

Local Jobs Supported	38
Local Business Owners’ Income	*$314,160.00*
Local Wages & Salaries	*$1,412,760.00*
Local Government Revenue	*$222,840.00*

TOTAL MONETARY IMPACT	*$1,949,760.00*

HOUSING PRODUCTION

Program Statistics

HOME Allocations / Board Approvals FY 2005

		No. Units	HOME Funds
Rental New Construction	0			*$0.00*
Rental Rehab	10			*$400,000.00*
Homeowner New Construction	5			*$440,000.00*
Homeowner Rehab or Mortgage Subsidy	11			*$291,700.00*
Tenant Based Rental Assistance	0			*$0.00*
Acq / Rehab	31			*$1,190,000.00*
TOTAL	57			*$2,321,700.00*
Average Amount per Unit				*$40,731.58*

Low-Income Housing Tax Credits / Board Approvals FY 2005

	No. Units	Federal LIHTC	State LIHTC	Total Funds	Average Per Unit
Acq / Rehab	*371*	*$1,360,243.00*	*$0.00*	*$1,360,243.00*	*$3,666.42*
New Const.	0	*$0.00*	*$0.00*	*$0.00*	*$0.00*

Total	*371*	*$1,360,243.00*	*$0.00*	*$1,360,243.00*	*$3,666.42*

Multifamily Housing Bonds

	No. Units	Dollar Amount	Average per Unit
Acq / Rehab	*107*	*$2,900,000.00*	*$27,102.80*
New Const.	*352*	*$17,300,000.00*	*$49,147.73*

Total	*459*	*$20,200,000.00*	*$44,008.71*

TOTAL HOUSING PRODUCTION:

$23,881,943.00

Total Economic Impact

Local Jobs Supported	*568*
Local Business Owners’ Income	*$5,255,040.00*
Local Wages & Salaries	*$21,469,980.00*
Local Government Revenue	*$3,619,980.00*

TOTAL MONETARY IMPACT	*$30,345.000.00*

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	1	*$1,140,000.00*	*$1,140,000.00*
Wastewater Revolving Loan	1	*$13,000,000.00*	*$13,000,000.00*
Safe Drinking Water Revolving Loan	2	*$3,550,000.00*	*$1,775,000.00*
Bond Guaranty Reserve Fund	0	*$0.00*	*$0.00*
Capital Access Program	0	*$0.00*	*$0.00*
State Facilities Finance	4	*$78,250,000.00*	*$19,562,500.00*
Interim Loans with other Agencies	1	*$5,000,000.00*	*$5,000,000.00*
Special Projects Fund	2	*$14,000,000.00*	*$7,000,000.00*
Taxable Industrial Revenue Bonds	0	*$0.00*	*$0.00*

TOTAL DEVELOPMENT FINANCE:

$114,940,000.00

TOTAL FUNDS FOR PULASKI COUNTY FY 2005

$145,378,722.00

Distribution of these total funds

		% Change from Previous Year
Homeownership	$6,556,779.00	-36.4%
Housing Production	$23,881,943.00	+59.5%
Development Finance	$114,940,000.00	+45.1%
Overall	$145,378,722.00	+42.8%