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ARKANSAS DEVELOPMENT FINANCE AUTHORITY

FOR IMMEDIATE RELEASE

Apirl 18, 2008

FOR MORE INFORMATION:

Victor Turner (501) 682-5860,  vturner@adfa.state.ar.us
Derrick Rose   (501) 682-5904,
drose@adfa.state.ar.us

ADFA Awards $467,500 for Affordable Housing in Brookland

Little Rock, AR (April 18, 2008) – The Arkansas Development Finance Authority (ADFA), Arkansas’s state housing finance agency, on April 17, approved the allocation of $467,500 in HOME Investment Partnerships Program (HOME) funds for the Crowley’s Ridge Development Council (CRDC).

The funds will be used to construct five homes for low-income homebuyers in Brookland, AR, which is located approximately eight miles northeast of Jonesboro. The new homes will be approximately 1,300 square foot with proposed sales prices between $122,000 and $126,000. CRDC recently completed selling six HOME funded single-family dwellings located in Craighead, Jackson and Poinsett Counties.

The HOME Program makes funds available for the development of affordable housing for low and moderate-income individuals and families, and encourages partnerships among state agencies, local governments, not-for-profit, and for-profit organizations.  For more information on the HOME Program, contact Victor Turner, ADFA HOME Program Manager, at (501) 682-5860.  For more information on the programs and services offered by ADFA, visit our website at www.arkansas.gov/adfa .

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