ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

WHITE COUNTY

Part of Congressional District 2

HOMEOWNERSHIP

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	MEDIAN LOAN AMT.
20	*$1,529,988.00*	*$76,499.40*	*$72,000.00*

Loans by Originator

Originator / Branch	No. Loans	Dollar Amount
Bank of the Ozarks, Little Rock, AR	2	*$123,563.00*
First Arkansas Valley Bank, Searcy, AR	1	*$57,049.00*
First Security Bank, Searcy, AR	12	*$977,386.00*
Regions Mortgage, Inc., Little Rock, AR	1	*$73,422.00*
Regions Mortgage, Inc., Searcy, AR	1	*$67,497.00*
Simmons First Mortgage, Searcy, AR	3	*$231,071.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	20	*$1,529,988.00*
New or Proposed Construction	0	*$0.00*

Loans by Loan Type

Loan Type	No. Loans	Dollar Amount
FHA	12	*$854,724.00*
VA	0	*$0.00*
Conventional	1	*$73,422.00*
Rural Development	7	*$601,842.00*
Uninsured	0	*$0.00*
Other	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	20	*$1,529,988.00*	*100.0%*
Minorities	0	*$0.00*	*0.0%*

Ethnicity	Mean Income	Median Income
Non-Minorities	*$36,795.12*	*$33,258.00*
Minorities	*$0.00*	*$0.00*

Average Household Size:	*2.2*

Loan Cancellation Rate:	*41.2%*

DOWN PAYMENT ASSISTANCE PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
13	*$30,296.00*	*$2,330.46*	*65.0%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
Community Resource Technicians, Little Rock, AR	4	*$8,886.00*
In Affordable Housing, Inc., Little Rock, AR	9	*$21,410.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	13	*$30,296.00*
New or Proposed Construction	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	12	*$27,296.00*	*92.3%*
Minorities	1	*$3,000.00*	*7.7%*

Loan Cancellation Rate:

43.5%

ADDI LOAN PROGRAM

Loan Statistics

NO. LOANS	DOLLAR AMOUNT	MEAN LOAN AMT.	% of H2O (1^ST) LOANS
2	*$7,225.00*	*$3,612.50*	*10.0%*

Loans by Homebuyer Counselor

Counselor	No. Loans	Dollar Amount
In Affordable Housing, Inc., Little Rock, AR	2	*$7,225.00*

Loans by New or Existing

New or Existing	No. Loans	Dollar Amount
Existing Construction	2	*$7,225.00*
New or Proposed Construction	0	*$0.00*

Demographics

Ethnicity	No. Loans	Dollar Amount	Percent
Non-Minorities	2	*$7,225.00*	*100.0%*
Minorities	0	*$0.00*	*0.0%*

Loan Cancellation Rate:

50.0%

TOTAL HOMEOWNERSHIP:

$1,567,509.00

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	10	*$400,000.00*
Rental Rehab	0	*$0.00*
Homeowner New Construction	0	*$0.00*
Homeowner Rehab or Mortgage Subsidy	0	*$0.00*
Tenant Based Rental Assistance	0	*$0.00*
Acq / Rehab	0	*$0.00*
TOTAL	10	*$400,000.00*
Average Amount per Unit		*$40,000.00*

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.	24	*$76,607.00*	*$0.00*	*$76,607.00*	*$3,191.96*

Total	24	*$76,607.00*	*$0.00*	*$76,607.00*	*$3,191.96*

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:

$476,607.00

Total Economic Impact

Local Jobs Supported	54
Local Business Owners’ Income	*$500,480.00*
Local Wages & Salaries	*$2,044,760.00*
Local Government Revenue	*$344,760.00*

TOTAL MONETARY IMPACT	*$2,890,000.00*

DEVELOPMENT FINANCE

Program Statistics

Program	No. Projects	Project Amount	Average Project Amount
ADFA Bond Guaranty	1	*$150,000.00*	*$150,000.00*
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:

$150,000.00

TOTAL FUNDS FOR WHITE COUNTY FY 2005

$2,194,116.00

Distribution of these total funds

		% Change from Previous Year
Homeownership	$1,567,509.00	-29.6%
Housing Production	$476,607.00	+89.6%
Development Finance	$150,000.00	+33.3%
Overall	$2,194,116.00	-7.7%