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March 20, 2008

Press Release

Dr. Richard Lee Burnett appointed to ADFA Board of Directors

The Arkansas Development Finance Authority (ADFA) has had Richard Lee Burnett, M.D. appointed to it board of directors where he will serve through January 2012. Burnett replaces Helms Farms Parner, Nancy Banks who served in the position since January 2004.

Burnett graduated from the University of Arkansas School of Medical Sciences. After graduation he spent a few years out of state but soon returned back to Arkansas and his wife’s hometown, Mountain Home, where he opened his office for family practice. His business has expanded to a multi-specialty clinic employing close to 100 employees including eight physicians and four advance nurse practitioners.

Burnett has also actively developed and annexed over 200 acres of property in the town of Mountain Home. He has a strong working knowledge of the financing opportunities and risks associated with such projects.

Burnett also actively farms over 1000 acres located in Baxter and Marion counties. He is well attuned to the many facets of the cattle and grain industries.

Burnett’s business and agriculture background will play an important role in helping ADFA respond to the changing needs of Arkansas’ growing and increasingly diverse population and business community.

ADFA was created in 1977 with a charge to issue tax-exempt bonds to support affordable home ownership for the citizens of Arkansas. Since that time, the agency assumed responsibility for many additional housing programs and added economic development, agriculture, export finance, infrastructure finance, venture capital and many other programs to its mission of providing development capital for the state.


Derrick Rose 
Communications Manager
Arkansas Development Finance Authority

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