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Statewide Statistics

Fiscal Year 2005

Statewide Statistics

Congressional
District 1

Congressional
District 2

Congressional
District 3

Congressional
District 4


Click Here for Program Activity for FY 2004

Click Here For Program Activity for FY 2002 & 2003
 

Click Here For Program Activity for FY 2001

 

ANNUAL REPORT OF PROGRAM ACTIVITY

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

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

STATEWIDE

HOME-TO-OWN PROGRAM

Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

MEDIAN LOAN AMT

758

$57,592,677.00

$75,979.78

$75,631.00

Loans by Originator

Originator / Branch

No. Loans

Dollar Amount

Arkansas Federal Credit Union, Jacksonville, AR

5

$364,700.00

Arkansas National Bank, Bentonville, AR

4

$387,601.00

Arvest Mortgage Company, Lowell, AR

72

$5,290,630.00

BancorpSouth, Fort Smith, AR

26

$1,621,257.00

BancorpSouth, Van Buren, AR

2

$129,535.00

Bank of Dardanelle, Russellville, AR

30

$1,877,251.00

Bank of the Ozarks, Little Rock, AR

11

$851,572.00

Benefit Bank, Fort Smith, AR

100

$8,049,719.00

Citizens Bank & Trust, Fort Smith, AR

3

$154,635.00

Citizens Bank & Trust, Van Buren, AR

3

$184,652.00

Community Home Lenders, Inc., Cabot, AR

1

$82,148.00

Community First Bank, Harrison, AR

23

$1,739,450.00

Cornerstone Mortgage Center, Little Rock, AR

3

$195,812.00

Countrywide Home Loans, Inc., Jonesboro, AR

1

$78,764.00

Countrywide Home Loans, Inc., North Little Rock, AR

21

$1,758,286.00

Farmers Bank, Greenwood, AR

4

$314,600.00

First Arkansas Mortgage, Jacksonville, AR

3

$274,847.00

First Arkansas Valley Bank, Clarksville, AR

1

$68,500.00

First Arkansas Valley Bank, Russellville

17

$1,279,100.00

First Arkansas Valley Bank, Searcy, AR

1

$57,049.00

First Financial Bank, Fort Smith, AR

2

$155,600.00

First Financial Bank, Jonesboro, AR

1

$103,900.00

First Financial Bank, North Little Rock, AR

1

$93,532.00

First Home Mortgage, Inc., Jonesboro, AR

7

$397,953.00

First Horizon Home Loan Corporation, West Memphis, AR

17

$1,622,023.00

1ST National Bank, Mountain, Home, AR

12

$760,248.00

1ST National Bank, Paris, AR

23

$1,279,400.00

1ST National Bank, Wynne, AR

1

$49,608.00

1ST Security Bank, Conway, AR

4

$354,004.00

First Security Bank, Searcy, AR

15

$1,197,916.00

First Trust Bank for Savings, Jonesboro, AR

1

$81,225.00

First Trust Bank for Savings, West Memphis, AR

3

$191,980.00

First Western Mortgage, Inc., Booneville, AR

4

$161,450.00

Guaranty Loan & Real Estate, West Memphis, AR

2

$214,750.00

Logan Finance Corporation, Blytheville, AR

5

$328,250.00

Metropolitan National Bank, Little Rock, AR

11

$877,243.00

Moore Mortgage, Little Rock, AR

1

$60,025.00

Moore Mortgage, Lowell, AR

6

$391,874.00

NARDIC, Fort Smith, AR

7

$503,242.00

Priority Bank, Ozark, AR

3

$212.500.00

Pulaski Mortgage Company, Bentonville, AR

10

$817,445.00

Pulaski Mortgage Company, Bryant, AR

7

$571,321.00

Pulaski Mortgage Company, Conway, AR

1

$73,742.00

Pulaski Mortgage Company, Fayetteville, AR

1

$75,840.00

Pulaski Mortgage Company, Forrest City, AR

116

$10,062,370.00

Pulaski Mortgage Company, Little Rock, AR

32

$2,359,374.00

Pulaski Mortgage Company, West Memphis, AR

4

$248,110.00

Regions Mortgage Bank, Benton, AR

2

$132,914.00

Regions Mortgage, Inc., Little Rock, AR

31

$2,288,887.00

Regions Mortgage, Inc., Searcy, AR

1

$67,497.00

Simmons First Bank, Jonesboro, AR

1

$109,000.00

Simmons First Bank, Russellville, AR

6

$409,750.00

Simmons First Mortgage, Fort Smith,  AR

2

$125,900.00

Simmons First Mortgage Company, Little Rock, AR

5

$366,046.00

Simmons First Mortgage, Rogers, AR

12

$1,086,603.00

Simmons First Mortgage, Russellville, AR

9

$639,735.00

Simmons First Mortgage, Searcy, AR

3

$231,071.00

Simmons First Mortgage, Springdale, AR

3

$264,843.00

Simmons First Mortgage of Little Rock, Siloam Springs, AR

3

$261,313.00

Simmons First National Bank, Pine Bluff, AR

36

$2,343,668.00

Summit Bank, Inc., Benton, AR

1

$61,000.00

The Carroll Mortgage Group, Inc., Little Rock, AR

12

$975,794.00

Union Bank of Benton, Benton, AR

1

$102,655.00

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

624

$44,831,204.00

New or Proposed Construction

134

$12,761,473.00

Loans by Loan Type

Loan Type

No. Loans

Dollar Amount

FHA

488

$36,025,133.00

VA

14

$1,285,079.00

Conventional

20

$1,217,059.00

Rural Development

236

$19,065,406.00

Uninsured

0

$0.00

Other

0

$0.00

Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

502

$38,306,114.00

66.2%

Minorities

235

$17,622,683.00

31.0%

Unknown

21

$1,663,880.00

2.8%


 

Ethnicity

Mean Income

Median Income

Non-Minorities

$36,019.64

$34,285.02

Minorities

$35,247.68

$36,174.00

Unknown

$41,539.45

$41,796.00


 

Average Household Size:

2.4

 

 

Loan Cancellation Rate:

20.5%


 

DOWN PAYMENT ASSISTANCE PROGRAM

 Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

370

$972,289.00

$2,627.80

48.8%

Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

Argenta Neighorborworks  Homeownership Center, North Little Rock, AR

38

$102,325.00

Arkansas River Valley Area Council, Inc., Dardanelle, AR

3

$8,145.00

Community Resource Technicians, Little Rock, AR

21

$56,583.00

Crawford-Sebastian Community Development Council, Fort Smith, AR

80

$205,024.00

Dream Makers Housing Counseling Agency, Pine Bluff, AR

41

$113,216.00

Family Service Agency, Little Rock, AR

8

$20,974.00

In Affordable Housing, Inc., Little Rock, AR

76

$201,151.00

Legal Aid of Arkansas, West Memphis, AR

1

$1,424.00

Mississippi County EOC, Blytheville, AR

75

$190,402.00

Universal Housing Development Corporation, Russellville, AR

27

$73,045.00

 

 

 

         
Loans by New or Existing
 

New or Existing

No. Loans

Dollar Amount

Existing Construction

332

$869,907.00

New or Proposed Construction

38

$102,382.00

Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

222

$581,839.00

60.0%

Minorities

127

$333,361.00

34.3%

Unknown

21

$57,089.00

5.7%

 

Loan Cancellation Rate:

14.6%

 

ADDI LOAN PROGRAM

Loan Statistics

NO. LOANS

DOLLAR AMOUNT

MEAN LOAN AMT.

% of H2O (1ST) LOANS

44

$176,419.12

$4,009.53

5.8%

Loans by Homebuyer Counselor

Counselor

No. Loans

Dollar Amount

Argenta Neighborworks Homeownership Center Agency, Inc., North Little Rock, AR

1

$4,640.00

Community Resource Technicians, Little Rock, AR

4

$20,000.00

Crawford-Sebastian Community Development Council, Inc., Fort Smith, AR

6

$20,509.00

Dream Makers Housing Counseling Agency, Pine Bluff

1

$4,455.00

Family Service Agency, Little Rock, AR

2

$8,640.00

In Affordable Housing, Inc., Little Rock, AR

11

$41,260.00

Mississippi County EOC, Blytheville, MS

13

$51,769.12

Universal Housing Development Corporation, Russellville, AR

6

$25,146.00

 Loans by New or Existing

New or Existing

No. Loans

Dollar Amount

Existing Construction

35

$139,423.12

New or Proposed Construction

9

$36,996.00

Demographics

Ethnicity

No. Loans

Dollar Amount

Percent

Non-Minorities

24

$92,990.51

54.5%

Minorities

20

$83,428.61

45.5%

 

Loan Cancellation Rate:

53.2%

 

TOTAL HOMEOWNERSHIP:

$58,741,385.12

          Total Economic Impact

Local Jobs Supported

422

Local Business Owners’ Income

$3,508,120.00

Local Wages & Salaries

$15,775,820.00

Local Government Revenue

$2,488,380.00

 

 

TOTAL MONETARY IMPACT

$21,772,320.00


 

HOUSING PRODUCTION

HOME Allocations / Board Approvals FY 2005

Program Statistics

 

 

No. Units

 

HOME Funds

Rental New Construction

162

$4,926,570.00

Rental Rehab

20

$800,000.00

Homeowner New Construction

20

$1,693,750.00

Homeowner Rehab or Mortgage Subsidy

179

$6,149,164.70

Tenant Based Rental Assistance

116

$592,384.00

Acq / Rehab

81

$3,014,852.00

TOTAL

578

$17,176,720.70

Average Amount per Unit

 

$29,717.51

Low-Income Housing Tax Credits / Board Approvals FY 2005

 

No. Units

 

Federal LIHTC

 

State LIHTC

 

Total Funds

Average

Per Unit

Acq / Rehab

815

$3,264,687.00

$80,000.00

$3,344,687.00

$5,513.84

New Const.

494

$3,610,670.00

$170,000.00

$3,780,670.00

$7,653,18

 

 

 

 

 

 

Total

1,309

$6,875,357.00

$250,000.00

$7,125,357.00

$5,443.36

Multifamily Housing Bonds

 

No. Units

Dollar Amount

Average per Unit

Acq / Rehab

255

$17,300,000.00

$67,843.14

New Const.

107

$2,900,000.00

$27,102.80

 

 

 

 

Total

462

$20,200,000.00

$43,722.94

 

TOTAL HOUSING PRODUCTION:

$44,502,077.70

          Total Economic Impact

Local Jobs Supported

1,075

Local Business Owners’ Income

$9,950,720.00

Local Wages & Salaries

$40,654,640.00

Local Government Revenue

$8,854,640.00

 

 

TOTAL MONETARY IMPACT

$57,460,000.00

 

DEVELOPMENT FINANCE

Program Statistics

 

Program

 

No. Projects

 

Project Amount

Average Project Amount

ADFA Bond Guaranty

3

$7,090,000.00

$2,363,333.33

AEDC/Other Bond Guaranty

1

$3,470,000.00

$3,470,000.00

Higher Education Facilities

2

$1,585,000.00

$792,500.00

Wastewater Revolving Loan

1

$13,000,000.00

$13,000,000.00

Safe Drinking Water Revolving Loan

6

$26,000,000.00

$4,333,333.33

Bond Guaranty Reserve Fund

2

$420,000.00

$210,000.00

Capital Access Program

11

$617,071.00

$56,097.36

State Facilities Finance

6

$160,900,000.00

$26,816,666.67

Interim Loans with other Agencies

2

$11,425,000.00

$5,710,000.00

Special Projects Fund

14

$42.337,500.00

$3,0234,107.14

Taxable Industrial Revenue Bonds

1

$5,530,000.00

$5,530,000.00

 

TOTAL DEVELOPMENT FINANCE

$272,374,571.00

 

SPECIAL VENTURE CAPITAL PROGRAM

Wound Therapy Company, Tennessee

Greater than 20% of total investment went into Clinic in Pine Bluff, AR

 

 

TOTAL FUNDS FOR STATEWIDE FY 2005

$375,618,033.82

 

 

Distribution of these total funds

 

 

% Change from Previous Year

Homeownership

$58,741.385.12

-31.6%

Housing Production

$44,502,077.70

+54.8%

Development Finance

$272,374,571.00

+47.8%

Overall

$375,618,033.82

+33.9%

 

SUMMARY

 

COUNTY

CD

HOMEOWNERSHIP $

HSNG PRODUCTION $

DEV. FINANCE $

TOTAL $

Arkansas

1

$147,268.00

$579,898.00

$3,750,000.00

$4,477,166.00

Ashley

4

$0.00

$0.00

$0.00

$0.00

Baxter

1

$683,051.00

$583,877.00

$3,575,000.00

$4,841,928.00

Benton

3

$3,385,282.00

$0.00

$0.00

$3,385,282.00

Boone

3

$1,502,400.00

$0.00

$54,750.00

$1,557,150.00

Bradley

4

$0.00

$0.00

$1,475,000.00

$1,475,000.00

Calhoun

4

$0.00

$0.00

$0.00

$0.00

Carroll

3

$728,100.00

$297,253.00

$25,000.00

$1,050,353.00

Chicot

4

$58,943.00

$770,078.00

$0.00

$829,021.00

Clark

4

$77,900.00

$139,134.00

$3,630,000.00

$3,847,034.00

Clay

1

$0.00

$0.00

$0.00

$0.00

Cleburne

1

$128,230.00

$0.00

$0.00

$128,230.00

Cleveland

4

$40,555.00

$116,203.00

$0.00

$156,758.00

Columbia

4

$0.00

$0.00

$0.00

$0.00

Conway

2

$76,742.00

$0.00

$0.00

$76,742.00

Craighead

1

$322,115.00

$800,000.00

$0.00

$1,122,115.00

Crawford

3

$4,445,613.00

$195,000.00

$0.00

$4,640,613.00

Crittenden

1

$10,455,861.19

$2,601,713.00

$0.00

$13,057,574.19

Cross

1

$819,665.00

$209,484.00

$0.00

$1,029,149.00

Dallas

4

$52,415.00

$0.00

$0.00

$52,415.00

Desha

4

$0.00

$385,000.00

$6,940,000.00

$7,325,000.00

Drew

4

$64,001.00

$691,153.00

$0.00

$755,154.00

Faulkner

2

$2,454,264.00

$1,162,000.00

$0.00

$3,616,264.00

Franklin

3

$134,500.00

$0.00

$0.00

$134,500.00

Fulton

1

$0.00

$0.00

$0.00

$0.00

Garland

4

$125,462.00

$800,000.00

$4,240,000.00

$5,165,462.00

Grant

4

$95,872.00

$0.00

$0.00

$95,872.00

Greene

1

$109,000.00

$0.00

$0.00

$109,000.00

Hempstead

4

$0.00

$139,134.00

$2,405,000.00

$2,544,134.00

Hot Spring

4

$228,336.00

$0.00

$0.00

$228,336.00

Howard

4

$0.00

$0.00

$0.00

$0.00

Independence

1

$0.00

$373,750.00

$0.00

$373,750.00

Izard

1

$0.00

$0.00

$0.00

$0.00

Jackson

1

$0.00

$0.00

$2,560,000.00

$2,560,000.00

Jefferson

4

$2,048,404.00

$400,000.00

$34,650,000.00

$37,098,404.00

Johnson

3

$262,700.00

$0.00

$0.00

$262,700.00

Lafayette

4

$0.00

$120,168.00

$140,121.00

$260,289.00

Lawrence

1

$67,500.00

$0.00

$0.00

$67,500.00

Lee

1

$78,990.00

$771,707.70

$0.00

$850,697.70

Lincoln

4

$84,225.00

$237,212.00

$0.00

$321,437.00

Little River

4

$0.00

$0.00

$0.00

$0.00

Logan

4

$944,190.00

$0.00

$0.00

$944,190.00

Lonoke

1

$915,655.00

$104,500.00

$8,280,000.00

$9,300,155.00

Madison

3

$0.00

$0.00

$0.00

$0.00

Marion

3

$401,668.00

$0.00

$0.00

$401,668.00

Miller

4

$0.00

$1,669,095.00

$6,097,200.00

$7,766,295.00

Mississippi

1

$414,725.00

$723,524.00

$2,605,000.00

$3,743,249.00

Monroe

1

$70,000.00

$0.00

$0.00

$70,000.00

Montgomery

4

$0.00

$0.00

$0.00

$0.00

Nevada

4

$0.00

$310,290.00

$0.00

$310,290.00

Newton

3

$81,000.00

$0.00

$0.00

$81,000.00

Ouachita

4

$0.00

$0.00

$9,637,500.00

$9,637,500.00

Perry

2

$56,000.00

$0.00

$0.00

$56,000.00

Phillips

1

$0.00

$0.00

$0.00

$0.00

Pike

4

$0.00

$73,152.00

$6,750,000.00

$6,823,152.00

Poinsett

1

$53,913.00

$0.00

$0.00

$53,913.00

Polk

4

$0.00

$679,101.00

$0.00

$679,101.00

Pope

3

$2,486,479.00

$0.00

$12,470,000.00

$14,956,479.00

Prairie

1

$0.00

$0.00

$0.00

$0.00

Pulaski

2

$6,556,779.00

$23,881,943.00

$114,940,000.00

$145,378,722.00

Randolph

1

$49,000.00

$0.00

$0.00

$49,000.00

Saline

2

$2,191,810.00

$0.00

$0.00

$2,191,810.00

Scott

4

$652,155.00

$0.00

$0.00

$652,155.00

Searcy

1

$83,125.00

$0.00

$0.00

$83,125.00

Sebastian

3

$9,378,406.00

$1,115,000.00

$0.00

$10,493,406.00

Sevier

4

$0.00

$0.00

$0.00

$0.00

Sharp

1

$0.00

$505,811.00

$0.00

$505,811.00

St.Francis

1

$1,334,258.00

$482,159.00

$0.00

$1,816,417.00

Stone

1

$0.00

$0.00

$0.00

$0.00

Union

4

$0.00

$362,336.00

$48,000,000.00

$48,362,336.00

Van Buren

2

$78,899.00

$0.00

$0.00

$78,899.00

Washington

3

$501,224.00

$2,745,795.00

$0.00

$3,247,019.00

White

2

$1,567,509.00

$476,607.00

$150,000.00

$2,194,116.00

Woodruff

1

$0.00

$0.00

$0.00

$0.00

Yell

2

$2,247,196.00

$0.00

$0.00

$2,247,196.00

 

 

 

 

 

 

 

 

$58,741,385.19

$44,502,077.70

$272,374,571.00

$375,618,033.89

 

FY 2005 BOND ISSUANCE

 

July 2004

State Agencies Facilities Revenue Bonds

            Donaghey Plaza Project, Series 2004

            $43,985,000.00

 

July 2004

Single Family Mortgage Revenue Bonds

            2005 Series B (AMT)

            $34,500,000.00

 

September 2004

Drivers’ License Revenue Bonds

            Arkansas State Police-Wireless Information Network Project, Series 2004

            $22,615,000.00

 

September 2004

Economic Development Revenue Bonds

            ADFA/ADED Guaranty Programs – Taxable 2004 Series A

            $10,410,000.00

 

October 2004

Drivers’ License Refunding Revenue Bonds

            Arkansas State Police – Headquarters & Wireless Data Equipment

Project,  Series 2004B

            $26,180,000.00

 

October 2004

Drivers’ License Improvement Revenue Bonds

            Arkansas State Police – Headquarters Project, Series 2004C

            $1,140,000.00

 

October 2004

            Single Family Mortgage Revenue Bonds

            2004 Series C (Non-AMT)

            $9,490,000.00

 

October 2004

            Single Family Mortgage Revenue Bonds

            2004 Series D (AMT)

            $15,510,000

 

May 2005

            Single Family Mortgage Revenue Bonds

            2005 Series A (Non-Amt)

            $3,265,000.00

 

May 2005

            Single Family Mortgage Revenue Bonds

            2005 Series B (AMT)

            $24,545,000.00

 

May 2005

            Single Family Mortgage Revenue Bonds

            2005 Series C (AMT)

            $19,940,000.00

 

May 2005

            State Agencies Facilities Refunding Revenue Bonds

            Justice Building Project, Series 2005

            $6,935,000.00

 

June 2005

            College Savings General Obligation Refunding Bonds

            Series 2005

            $31,125,000.00

 

June 2005

            State Agencies Facilities Revenue Refunding Bonds

            Arkansas Dept. of Correct Project, 2005 Series A

            $33,410,000.00

 

June 2005

            State Agencies Facilities Revenue Bonds

            AR Dept. of Environmental Quality Project, Series 2005-A

            $19,590,000.00

 
 

COMMENTS CONCERNING ANNUAL REPORT OF PROGRAM ACTIVITY

Statistics compiled and “Annual Report of Program Activity” designed by Judy Brummett, ADFA Research and Special Projects Manager.

Additional breakdown by town, census tracts, state senate or house districts are available by emailing request to jbrummett@adfa.state.ar.us, calling  501-682-5917 or writing to 423 Main Street, Suite 500, Little Rock, AR  72201

Total Economic Impact for Homeownership and Housing Production were calculated by utilizing the National Association of Homebuyer’s formula for determining direct and indirect impact of construction and sales activity.