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from Rush B. Deacon, President
Direct Line: 501-682-3339
e-mail : rdeacon@adfa.state.ar.us

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Yo hablo espaol?

Spanish Homebuyer Classes Now Available in Arkansas

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Maura Lozano-Yancy

 

Because of a significant increase in the need for bilingual English and Spanish housing counseling classes in Arkansas, ADFA has entered into a trial agreement with the Family Service Agency (FSA) of North Little Rock and Maura Yancy d/b/a Cross Cultural Development Group. This trial agreement will allow ADFA and FSA to determine the extent of the need and study the impact of increased English and Spanish language housing counseling classes.

Yancy is using her housing experience and knowledge of the Spanish language to facilitate marketing and to conduct a minimum of three bilingual housing counseling classes this summer at various locations throughout the state. She is also coordinating outreach efforts in order to provide the maximum amount of access to housing counseling services to benefit low-income persons and encourage homeownership in Arkansas.

The HomeToOwn Program offers below-market interest rate funds year round to qualified low-income and moderate-income families in Arkansas.. As a supplement to this program, ADFA also offers qualifying applicants $1,000 to $3,000 in down payment and closing cost assistance in the form of a 10-year second mortgage.

To qualify for downpayment and closing cost assistance through ADFA’s HomeToOwn Mortgage Bond Program a person must earn a certificate of completion from an ADFA approved Homebuyer Education Program. The program is designed to make an individual a more informed homebuyer and better prepare him or her to handle the responsibilities of homeownership.

 

Board actions
(June meeting)

ADFA Board of Directors approved the following actions during its June board meeting:

Arkansas Development Finance Authority may now transact business as a nonmember borrower with the Federal Home Loan Bank of Dallas, Texas.

The issuance of not to exceed $1,350,000 in State Agencies Facilities Revenue Bonds for the Livestock and Poultry Commission to provide permanent financing to acquire, construct, and equip new and improved laboratory facilities.

The issuance of not to exceed $1,100,000 in State Agencies Facilities Revenue Bonds for the State Plant Board to provide permanent financing to acquire, construct, and equip new and improved laboratory facilities.

ADFA Employee Spotlight

Bryan Scoggins began working for ADFA in 1989 as loan officer in ADFA’s Development Finance Division. In 1996 his responsibilities changed to include the duties of the Export Finance Manager. As such, he is administrator of the Export Import Bank of the United States’ (Ex-Im Bank) insurance policy which provides foreign receivable credit insurance to small exporters located in Arkansas. ADFA is also a Ex-Im Bank City/State Partner. As a City/State partner, Bryan packages loans and performs credit analysis for export working capital guarantee applications made to Ex-Im Bank and the Small Business Administration (SBA).

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Governor Mike Huckabee (right) presents the SBA award for "Small Business Resource Partner of the Year" to ADFA Export Finance Officer Bryan Scoggins (left). The recognition is for outstanding service provided to various Arkansas based small business exporters.

 

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