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FY2017 Annual Report of Program Activity
July 1, 2016 – June 30, 2017
2
TABLE OF CONTENTS
Section I. Introduction 3
Lending Programs
Section II. Affordable Housing 4 Part 1 – Single Family Housing Lending Programs (H2O, DPA, ADDI Loans and MCC Fees Paid) 5 Part 2 – Multifamily Housing and HOME Lending Programs 13
Section III. Development Finance 17 Part 1 – ARCash and Capital Access 18 Part 2 – Other Development Finance Programs 19 Part 3 – Venture Capital 20
Section IV. Student Loans 21
Non-Lending Activities
Section V. Non-Lending Information
51
Part 1 – Affordable Housing Compliance and Monitoring Review 52 Part 2 – ADFA Bond Indebtedness as of 06/30/2017 63 Part 3 –Economic Policy Division 64
3
Section I Introduction
The FY2017 Annual Report of Program Activity organizes the work of the Arkansas Development Finance Authority into two categories:
Lending Programs
Non-Lending Activities
Lending Programs include Affordable Housing, Development Finance, Venture Capital, and Student Loans.
Non-Lending Activities include Housing Compliance Monitoring, Bond Indebtedness, and research and analysis conducted by the Economic Policy Division.
4
Section II Affordable Housing
Affordable Housing includes reported data from ADFA’s Single Family Housing, Multifamily Housing, and HOME departments.
5
PART 1. SINGLE FAMILY HOUSING PROGRAMS
Mortgage
Downpayment Assistance
American Dream Downpayment
Initiative
Congressional District
County Originator # Loans Total $
Amount # Loans Total $ Amount
# Loans
Total $ Amount
Loan Amount
Total
1
Arkansas ENGLAND LENDING 1 $90,824 1 $5,000 $95,824 Arkansas County Total 1 $90,824 1 $5,000 $95,824
Cleburne EAGLE BANK & TRUST LITTLE ROCK 1 $5,202 $5,202
Cleburne County Total 1 $5,202 $5,202
Craighead CENTENNIAL BANK 1 $86,406 1 $4,000 $90,406
FIRST FINANCIAL BANK 6 $823,306 5 $29,000 4 $27,591 $879,897
IBERIABANK MORTGAGE COMPANY 3 $408,540 4 $24,000 $432,540
INTERLINC MORTGAGE SERVICESLLC 3 $297,706 3 $15,917 $313,623
SOUTHWEST FUNDING, LP 1 $5,694 $5,694
SUPREME LENDING 13 $1,866,894 14 $80,350 1 $5,340 $1,952,584 Craighead County Total 26 $3,482,852 27 $153,267 6 $38,625 $3,674,744
Crittenden IBERIABANK MORTGAGE COMPANY 50 $5,359,075 32 $160,968 4 $19,797 $5,539,840
INTERLINC MORTGAGE SERVICESLLC 1 $70,204 1 $4,000 $74,204
SOUTHWEST FUNDING, LP 2 $9,394 $9,394
6
SUPREME LENDING 3 $564,386 3 $17,500 $581,886 Crittenden County Total 54 $5,993,665 36 $182,468 6 $29,191 $6,205,324
Greene FIRST FINANCIAL BANK 2 $6,210 $6,210
SUPREME LENDING 2 $168,271 2 $12,000 $180,271
Greene County Total 2 $168,271 2 $12,000 2 $6,210 $186,481
Lonoke BANK OF LITTLE ROCK MORTGAGE 1 $106,400 1 $6,000 $112,400
EAGLE BANK & TRUST LITTLE ROCK 2 $13,200 $13,200
PILGRIM MORTGAGE 1 $8,100 $8,100
PRIMARY RESIDENTIAL MORGAGE 2 $9,420 $9,420
Lonoke County Total 1 $106,400 1 $6,000 5 $30,720 $143,120
Mississippi SOUTHWEST FUNDING, LP 1 $3,120 $3,120
SUPREME LENDING 3 $259,707 3 $15,500 $275,207 Mississippi County Total 3 $259,707 3 $15,500 1 $3,120 $278,327
Phillips SOUTHWEST FUNDING, LP 1 $5,100 $5,100
Phillips County Total 1 $5,100 $5,100
Poinsett IBERIABANK MORTGAGE COMPANY 1 $76,095 1 $4,000 $80,095
Poinsett County Total 1 $76,095 1 $4,000 $80,095
Randolph SUPREME LENDING 2 $256,323 1 $3,000 $259,323 Randolph County Total 2 $256,323 1 $3,000 $259,323
St. Francis IBERIABANK MORTGAGE COMPANY 1 $171,830 1 $6,000 $177,830
St. Francis County Total 1 $171,830 1 $6,000 $177,830
Stone PRIMARY RESIDENTIAL MORGAGE 1 $4,200 $4,200
Stone County Total 1 $4,200 $4,200
Congressional District 1 Total 91 $10,605,967 73 $387,235 23 $122,368 $11,115,570
7
2
Conway CENTENNIAL BANK 3 $237,701 2 $9,481 1 $1,663 $248,845
IBERIABANK MORTGAGE COMPANY 1 $122,719 3 $16,289 $139,008
Conway County Total 4 $360,420 2 $9,481 4 $17,952 $387,853
Faulkner BANK OF LITTLE ROCK MORTGAGE 2 $206,857 2 $7,800 1 $2,800 $217,457
1ST SECURITY 9 $996,116 4 $24,000 7 $50,547 $1,070,663
ARVEST BANK 1 $5,000 $5,000
BANK OF THE OZARKS 2 $12,090 $12,090
CENTENNIAL BANK 12 $1,541,193 9 $54,000 6 $39,496 $1,634,689
EAGLE BANK & TRUST LITTLE ROCK 6 $35,721 $35,721
FIRST ARKANSAS FINANCIAL, INC 1 $7,185 $7,185
FIRST FINANCIAL BANK 2 $13,556 $13,556
IBERIABANK MORTGAGE COMPANY 14 $1,993,373 13 $74,845 12 $87,856 $2,156,074
PREMIER NATIONWIDE LENDING 3 $453,141 2 $12,000 1 $10,000 $475,141
SOUTHWEST FUNDING, LP 3 $20,490 $20,490
SUPREME LENDING 1 $196,315 1 $6,000 $202,315
THE CARROLL MORTGAGE GROUP INC 1 $5,220 $5,220
Faulkner County Total 41 $5,386,995 31 $178,645 43 $289,961 $5,855,601
Perry ARVEST BANK 1 $95,733 1 $6,000 $101,733
CENTENNIAL BANK 1 $6,000 $6,000
Perry County Total 1 $95,733 2 $12,000 $107,733
Pulaski BANK OF LITTLE ROCK MORTGAGE 13 $1,571,265 11 $66,000 15 $80,032 $1,717,297
1ST SECURITY 25 $2,830,665 25 $143,715 21 $132,907 $3,107,287
ARVEST BANK 11 $1,331,404 9 $52,279 4 $27,427 $1,411,110
8
BANCORPSOUTH 2 $192,809 1 $4,803 $197,612
BANK OF THE OZARKS 1 $169,750 1 $6,000 13 $66,879 $242,629
BEAR STATE BANK, NA 1 $152,192 1 $5,407 $157,599
CENTENNIAL BANK 5 $639,107 4 $22,170 2 $10,734 $672,011
EAGLE BANK & TRUST LITTLE ROCK 2 $13,834 $13,834
ENGLAND LENDING 4 $438,204 4 $27,660 5 $30,056 $495,920
FIRST ARKANSAS FINANCIAL, INC 1 $6,679 $6,679
FIRST FINANCIAL BANK 1 $3,300 $3,300
IBERIABANK MORTGAGE COMPANY 6 $865,328 9 $51,372 10 $62,605 $979,305
PILGRIM MORTGAGE 5 $32,608 $32,608
PREMIER NATIONWIDE LENDING 6 $780,522 4 $24,000 8 $61,948 $866,470
PRIMARY RESIDENTIAL MORGAGE 6 $39,230 $39,230
REGIONS MORTGAGE, INC. 1 $6,370 $6,370
SIMMONS BANK 8 $929,322 4 $20,181 36 $201,301 $1,150,804
SOUTHWEST FUNDING, LP 2 $13,650 32 $201,477 $215,127
THE CARROLL MORTGAGE GROUP INC 15 $93,499 $93,499
Pulaski County Total 82 $9,900,568 75 $438,804 177 $1,069,319 $11,408,691
Saline 1ST SECURITY 6 $733,030 5 $26,484 1 $4,500 $764,014
ARVEST BANK 2 $8,800 $8,800
BANK OF THE OZARKS 1 $122,637 1 $6,000 1 $5,580 $134,217
EAGLE BANK & TRUST LITTLE ROCK 3 $15,478 $15,478
IBERIABANK MORTGAGE COMPANY 1 $4,000 $4,000
SIMMONS BANK 1 $75,605 11 $65,327 $140,932
SOUTHWEST FUNDING, LP 3 $22,155 $22,155
9
THE CARROLL MORTGAGE GROUP INC 3 $24,291 $24,291
Saline County Total 8 $931,272 6 $32,484 25 $150,131 $1,113,887
Van Buren 1ST SECURITY 1 $71,725 2 $9,024 $80,749
ARVEST BANK 1 $41,239 1 $3,550 $44,789
IBERIABANK MORTGAGE COMPANY 1 $3,900 $3,900
Van Buren County Total 2 $112,964 2 $7,450 2 $9,024 $129,438
White 1ST SECURITY 1 $3,470 $3,470
ENGLAND LENDING 1 $4,500 $4,500
PREMIER NATIONWIDE LENDING 1 $122,911 1 $6,000 $128,911
SOUTHWEST FUNDING, LP 1 $6,540 $6,540
White County Total 1 $122,911 1 $6,000 3 $14,510 $143,421
Congressional District 2 Total 139 $16,910,863 119 $684,864 254 $1,550,897 $19,146,624
3
Benton ARMSTRONG BANK 4 $559,427 1 $6,000 2 $15,872 $581,299
ARVEST BANK 5 $775,086 4 $22,500 1 $6,600 $804,186
BANCORPSOUTH 1 $154,695 1 $6,000 $160,695
BANK OF THE OZARKS 1 $4,140 $4,140
CENTENNIAL BANK 2 $251,133 2 $12,000 $263,133
DAS ACQUISITION COMPANY, LLC 3 $469,341 4 $19,300 $488,641
FAIRWAY INDEPENDENT MORTGAGE C 2 $375,968 3 $16,500 $392,468
FIRST WESTERN MORTGAGE INC 3 $404,634 3 $17,600 $422,234
PRIMARY RESIDENTIAL MORGAGE 1 $127,546 1 $6,000 $133,546
SIMMONS BANK 1 $118,808 1 $5,923 $124,731
UNITED BANK - SPRINGDALE 1 $145,122 1 $6,000 $151,122
10
Benton County Total 23 $3,381,760 21 $117,823 4 $26,612 $3,526,195
Carroll ARVEST BANK 2 $227,758 2 $8,000 $235,758
Carroll County Total 2 $227,758 2 $8,000 $235,758
Crawford ARMSTRONG BANK 10 $1,245,324 3 $8,189 $1,253,513
BANCORPSOUTH 1 $3,200 $3,200
CENTENNIAL BANK 2 $211,212 1 $6,000 1 $6,000 $223,212 Crawford County Total 12 $1,456,536 4 $14,189 2 $9,200 $1,479,925
Marion ARVEST BANK 1 $88,868 1 $5,300 $94,168
Marion County Total 1 $88,868 1 $5,300 $94,168
Pope SIMMONS BANK 1 $184,103 1 $6,000 $190,103
SOUTHWEST FUNDING, LP 1 $3,120 $3,120
Pope County Total 1 $184,103 1 $6,000 1 $3,120 $193,223
Sebastian ARMSTRONG BANK 20 $1,962,905 7 $39,454 14 $69,571 $2,071,930
ARVEST BANK 5 $442,497 5 $23,800 $466,297
BANCORPSOUTH 1 $5,460 $5,460
CENTENNIAL BANK 1 $130,591 1 $6,000 1 $3,494 $140,085
FIRST FINANCIAL BANK 2 $8,261 $8,261
FIRST WESTERN MORTGAGE INC 1 $66,768 $66,768
PRIMARY RESIDENTIAL MORGAGE 1 $7,314 $7,314
Sebastian County Total 27 $2,602,761 13 $69,254 19 $94,100 $2,766,115
Washington ARMSTRONG BANK 5 $804,143 3 $17,505 1 $8,400 $830,048
ARVEST BANK 14 $1,608,930 12 $66,400 2 $17,424 $1,692,754
BEAR STATE BANK, NA 1 $136,776 1 $5,800 $142,576
CENTENNIAL BANK 6 $775,119 3 $18,000 2 $18,912 $812,031
FIRST WESTERN MORTGAGE INC 1 $100,152 1 $4,760 $104,912
11
IBERIABANK MORTGAGE COMPANY 1 $112,917 $112,917
SIMMONS BANK 1 $218,862 1 $6,000 $224,862 Washington County Total 29 $3,756,899 21 $118,465 5 $44,736 $3,920,100
Congressional District 3 Total 95 $11,698,685 62 $333,731 32 $183,068 $12,215,484
4
Bradley PREMIER NATIONWIDE LENDING 1 $7,200 $7,200
Bradley County Total 1 $7,200 $7,200
Clark 1ST SECURITY 1 $178,899 $178,899
ENGLAND LENDING 1 $64,313 1 $5,000 $69,313
SOUTHERN BANCORP BANK 1 $3,120 $3,120
Clark County Total 2 $243,212 1 $5,000 1 $3,120 $251,332
Columbia BANK OF THE OZARKS 1 $5,250 $5,250
PILGRIM MORTGAGE 1 $3,960 $3,960 Columbia County Total 2 $9,210 $9,210
Drew ARMSTRONG BANK 5 $844,341 $844,341
Drew County Total 5 $844,341 $844,341
Franklin ARMSTRONG BANK 1 $98,639 $98,639
Franklin County Total 1 $98,639 $98,639
Garland ARVEST BANK 2 $193,862 1 $4,300 1 $4,200 $202,362
BANCORPSOUTH 2 $157,732 2 $6,858 $164,590
BANK OF THE OZARKS 1 $6,000 1 $5,370 $11,370
SIMMONS BANK 2 $152,192 3 $16,264 $168,456
Garland County Total 6 $503,786 4 $17,158 5 $25,834 $546,778
Grant 1ST SECURITY 1 $6,300 $6,300
FIRST FINANCIAL BANK 1 $4,200 $4,200
12
Grant County Total 2 $10,500 $10,500
Hempstead BANK OF LITTLE ROCK MORTGAGE 1 $135,353 $135,353
Hempstead County Total 1 $135,353 $135,353
Jefferson ENGLAND LENDING 2 $218,861 2 $12,000 $230,861
PREMIER NATIONWIDE LENDING 2 $255,485 2 $12,000 $267,485
SIMMONS BANK 6 $552,174 5 $24,250 2 $8,351 $584,775
SOUTHWEST FUNDING, LP 3 $14,538 $14,538 Jefferson County Total 10 $1,026,520 9 $48,250 5 $22,889 $1,097,659
Little River PREMIER NATIONWIDE LENDING 1 $37,532 1 $3,000 $40,532
Little River County Total 1 $37,532 1 $3,000 $40,532
Miller PREMIER NATIONWIDE LENDING 2 $169,385 1 $4,400 1 $5,400 $179,185
Miller County Total 2 $169,385 1 $4,400 1 $5,400 $179,185
Union SIMMONS BANK 1 $69,714 1 $6,000 $75,714
Union County Total 1 $69,714 1 $6,000 $75,714
Yell CENTENNIAL BANK 2 $166,415 2 $8,400 $174,815
Yell PILGRIM MORTGAGE 1 $5,100 $5,100
Yell SOUTHWEST FUNDING, LP 1 $5,100 $5,100
Yell County Total 2 $166,415 2 $8,400 2 $10,200 $185,015
Congressional District 4 Total 31 $3,294,897 19 $92,208 19 $94,353 $3,481,458
State of Arkansas Total 356 $42,510,412 273 $1,498,038 328 $1,950,686 $45,959,136
13
PART 2. HOME FUNDING FY2017 (July 1, 2016 - June 30, 2017)
A. MULTIFAMILY DEVELOPMENT
APPLICANT PROJECT NAME CITY(IES) COUNTY DISTRICT ACTIVITY TYPE FUNDING
TYPE
# OF UNITS/
TENANTS AMOUNT
ALLOCATED
Carroll Partners, LP Carroll House Apartments
Berryville, Eureka Springs, Green Forrest Carroll 3 ACQ-REHAB HOME/CHDO 10 $900,000
Crowley's Ridge Development Council
Plainview Terrace Apartments Bono Craighead 1 ACQ-REHAB HOME/CHDO 46 $1,500,000
Pulaski County Neighborhood Alliance For Habitat
Pulaski County Neighborhood Alliance Habitat Little Rock Pulaski 2 NEW CONSTRUCT HOME/CHDO 16 $1,584,000
Regional Housing Solutions Quail Run Apartments Fort Smith Crawford 3 ACQ-REHAB HOME/CHDO 24 $1,245,000
CHDO SET-ASIDE TOTAL: $5,229,000
14
B. HOMEOWNER/HOMEBUYER
APPLICANT PROJECT NAME CITY(IES) COUNTY DISTRICT ACTIVITY TYPE FUNDING
TYPE
# OF UNITS/
TENANTS AMOUNT
ALLOCATED
Third Party Consultants/Comm ResTechnician, Inc.
ThirdPartyConsultants/Comm ResTechnician, Inc. Various
Miller, Monroe, Cleveland & Pulaski 1 & 2 REHAB ONLY
SETTLEMENT FUNDS 4 $11,298
Habitat For Humanity Of Central Arkansas
Habitat For Humanity Of Central Arkansas Little Rock Lonoke 1 NEW CONSTRUCT HOME 12 $1,188,000
Habitat For Humanity Of Central Arkansas
Habitat For Humanity Of Central Arkansas Little Rock Pulaski 2 NEW CONSTRUCT HOME 12 $1,188,000
Habitat For Humanity Of Saline County, Arkansas Inc
Habitat For Humanity Of Saline County, Arkansas Benton Saline 2 NEW CONSTRUCT HOME 16 $1,188,000
Habitat For Humanity Of Greater Jonesboro, Inc
Habitat For Humanity Of Greater Jonesboro Jonesboro Craighead 1 NEW CONSTRUCT HOME 12 $1,188,000
Habitat for Humanity Of Independence County, AR
Habitat For Humanity Of Independence County Batesville Independence 1 NEW CONSTRUCT HOME 4 $396,000
Habitat For Humanity Eldorado, AR
Habitat for Humanity Eldorado El Dorado Union 4 NEW CONSTRUCT HOME 6 $550,000
Habitat For Humanity of White County, AR Inc
Habitat for Humanity of White County Searcy White 2 NEW CONSTRUCT HOME 5 $396,000
HOMEOWNER/HOMEBUYER TOTAL : $6,105,298
15
C. MULTI-FAMILY RENTAL
APPLICANT PROJECT NAME CITY(IES) COUNTY DISTRICT ACTIVITY TYPE FUNDING
TYPE
# OF HOME
UNITS / TENANTS
AMOUNT ALLOCATED
WM Housing Partners II, L.P.
Barton Court II/West Memphis/Crittenden County West Memphis Crittenden 1 ACQ-REHAB
TC w/HOME
5 HOME /79 TC UNITS $450,000
Robindale East, LP
Robindale East/Blytheville/Mississippi County Blytheville Mississippi 1 ACQ-REHAB
TC w/HOME
5 HOME /55 TC UNITS $450,000
Mountain View Heights, L.P. Mountain View Heights Hot Springs Garland 4 ACQ-REHAB
4% Bonds with
HOME
5 HOME / 365
UNITS $450,000
BRAD Black River Housing, L.P. BRAD Black River Housing Pocahontas Randolph 1 ACQ-REHAB HOME ONLY
5 HOME / 14 UNITS $225,000
MULTI-FAMILY/RENTAL TOTAL: $1,575,000
16
D. TENANT-BASED RENTAL ASSISTANCE
APPLICANT PROJECT NAME CITY(IES) COUNTY DISTRICT ACTIVITY TYPE FUNDING
TYPE
# OF UNITS/
TENANTS AMOUNT
ALLOCATED Little Rock Housing Authority DBA Metropolitan Housing Alliance
Metropolitan Housing Alliance/Pulaski County Little Rock Pulaski 2 TBRA HOME 180 $522,720
PATHFINDER INC Pathfinder, Inc. Jacksonville Pulaski, Saline, Lonoke 2 TBRA HOME 10 $75,680 Pulaski County Community Service
Pulaski County Community Little Rock Pulaski 2 TBRA HOME 37 $221,556
White River Regional Housing Authority Region 2
White River Regional Housing Melbourne Independence, White, Woodruff 1 TBRA HOME 60 $275,000
Life Styles, Inc. Life Styles, Inc. Fayetteville Washington 3 TBRA HOME 25 $105,700
Community Dev Corp of Bentonville and Bella Vista
Community Dev Corp of Bentonville and Bella Vista
Bentonville, Bella Vista Benton 3 TBRA HOME 20 $95,274
Crowley's Ridge Development Council
Crowley's Ridge Development Jonesboro Craighead 1 TBRA HOME 20 $22,000
TBRA TOTAL: $1,317,930
TOTALS OF PARTS A, B, C, D:
TOTAL HOME FUNDING FY 2017 (July 1, 2016 - June 30, 2017) CHDO SET-ASIDE TOTAL: $5,229,000
HOMEOWNER/HOMEBUYER TOTAL : $6,105,298
MULTI-FAMILY/RENTAL TOTAL: $1,575,000
TBRA TOTAL: $1,317,930
TOTAL HOME FUNDS ALLOCATED $14,227,228
17
Section III Development Finance
Development Finance includes ARCash, Capital Access, State Small Business Credit Initiative, ADFA Guaranteed Revenue Bonds, AEDC/Other Guaranteed Revenue Bonds, Safe Drinking Water Revolving Loan Fund, State Facilities Finance, and Wastewater System Revolving Loan Fund.
ADFA administers the programs of the Arkansas Venture Capital Investment Trust (AVCIT). The AVCIT was created pursuant to the provisions of the laws of the State of Arkansas, including Title 28, Chapter 72, Subchapter 2 of the Arkansas Code of 1987 Annotated. The AVCIT operates five programs that are intended to stimulate venture capital investments in Arkansas. Those programs are the Arkansas Institutional Fund, Arkansas Risk Capital Matching Fund (ARCM), ADFA Co-Investment Fund (ACIF), Seed and Angel Capital Network (SACN) and the Arkansas Venture Development Fund.
18
Part 1. ArCash And Capital Access
ArCash
Capital Access
Congressional District County Number of Loans $ Amount
Number of Loans $ Amount Total Number of Loans Total $ Amount
1
Craighead
4 $92,500 4 $92,500
Greene
2 $34,200 2 $34,200
Jackson
2 $35,000 2 $35,000
Lee
1 $30,000 1 $30,000
2
Faulkner
3 $50,000 3 $50,000
Pulaski
7 $152,000 7 $152,000
Saline
1 $15,000 1 $15,000
3
Benton
1 $12,500 1 $12,500
Boone
2 $30,000 2 $30,000
Crawford 3 $80,000
3 $80,000
Logan 1 $115,000
1 $115,000
Washington
8 $130,000 8 $130,000
4
Hot Spring 1 $4,000
1 $25,000 2 $29,000
Jefferson
1 $45,000 1 $45,000
Lafayette
6 $140,994 6 $140,994
Madison
6 $81,000 6 $81,000
Miller
1 $15,000 1 $15,000
Sebastian 10 $259,724
10 $259,724
TOTAL 15 $458,724 46 $888,194 61 $1,346,918
19
Part 2. Other Development Finance Program Bond Issues
Issued
City Issues Amount
ADFA Guaranteed Revenue Bonds 1 $2,715,000 Congressional District - 4 1 $2,715,000 Ashley County 1 $2,715,000 Crossett 1 $2,715,000
AEDC Other Guaranteed Revenue Bonds 1 $2,715,000 Congressional District - 4 1 $2,715,000 Ashley County 1 $2,715,000 Crossett 1 $2,715,000
ADFA Conduit Issues $53,150,000 Congressional Distict - 1
$9,650,000
Washington County 1 $9,650,000 Fayetteville 1 $9,650,000
Congressional District - 2
$43,500,000 Faulkner County 1 $24,000,000 Conway
$24,000,000
Pulaski County 1 $19,500,000 Little Rock
$19,500,000
ADFA State Agency Bonds $115,675,000 Statewide issuance
Higher Education Refunding Bonds 1 $84,000,000 State Police Construction Bonds 1 $31,675,000
20
Part 3. Venture Capital
ADFA administers the programs of the Arkansas Venture Capital Investment Trust (AVCIT). The AVCIT was created pursuant to the provisions of the laws of the State of Arkansas, including Title 28, Chapter 72, Subchapter 2 of the Arkansas Code of 1987 Annotated. The AVCIT operates five programs that are intended to stimulate venture capital investments in Arkansas. Those programs are the Arkansas Institutional Fund, Arkansas Risk Capital Matching Fund (ARCM), ADFA Co-Investment Fund (ACIF), Seed and Angel Capital Network (SACN) and the Arkansas Venture Development Fund.
To date, the ARCM, ACIF and SACN programs have made investments totaling $23,081,894. The specific investment activity for these programs during FY2017 is outlined in the chart below.
New Investments funded during the year
Other Activity
Cong Dis County No ARCM SACN ACIF Total Funded
Return of Capital Write Downs
2 Pulaski 4 0.00 0.00 650,000.00 650,000.00
866,700.00 0.00
Congressional District 2 Total 0.00 0.00 650,000.00 650,000.00 866,700.00 0.00
3 Benton
0.00
0.00 19,286.00
Washington
0.00
50,493.01 869,945.00
Congressional District 3 Total 0.00 0.00 0.00 0.00 50,493.01 889,231.00
Part CD1 & Part CD 4 Jefferson
0.00 0.00 0.00 0.00 0.00 17,279.00
Part Congressional District 1 & 4 Total 0.00 0.00 0.00 0.00 0.00 17,279.00
TOTAL 0.00 0.00 650,000.00 650,000.00 917,193.01 906,510.00
21
Section IV Student Loans
The Arkansas Student Loan Authority Division of ADFA seeks to improve access to higher education funding for Arkansas students. The ASLA Division provides a number of student loan-related services along with free college planning services to college-bound high school students. This section contains financial statements for ASLA’s outstanding bonds along with information pertaining to the Division’s default prevention program and financial aid awareness program.
22
ASLA 826509 Bond 00002010 Balance Sheet April 30, 2017
(Unaudited)
ASSETS
Cash $ - Assets Held by Trustee
Investments 5,050,714 Student Loans Receivable, Net 119,656,961 Accrued Interest Receivable 1,882,319 Deferred Loan Premiums
Due from Agency Fund 27,617 Loan Payments from Servicer Receivable 211,595
Total Assets $ 126,829,206
LIABILITIES AND NET ASSETS
Notes Payable $ 105,324,147 Less: Deferred amount on refunding of debt (2,948,776) Less: Deferred issue discount (1,062,927) Accrued Interest Payable on Notes 496,933 Accrued Expenses 735,288
Total Liabilities 102,544,665
Net Assets 24,284,541
Total Liabilities and Net Assets $ 126,829,206
23
Student Loan Backed Reporting Distribution Report Issuer ASLA 826509 Bond 00002010 Deal Name 2010 Distribution Date May 25, 2017 Collection Period February 1, 2017, through April 30, 2017 Contact Name Mark Conine Contact Number 501-682-1259 Contact Email
Website www.asla.info/financials
Notes/Bonds (FFELP) Class A-1 CUSIP 041150DJ9
Rate 1.052330%
Index 3ML
Original Balance 267,500,000
Beg Princ Bal 105,324,149
Interest Accrual 496,939.96
Principal Paid 3,973,716.04
End Princ Bal 101,350,433
% of Securities 37.89%
Maturity 11/25/2043
24
Portfolio Summary
Beg Balance Activity End Balance Principal Balance 123,701,887 (4,178,037) 119,523,850 Capitalized Interest
176,683 (43,572) 133,111
Total Pool Balance
123,878,570 (4,221,609) 119,656,961 Total Accounts Balance
Total Trust Assets
Weighted Average Coupon (WAC)
4.71 0.01 4.71 Weghted Average Maturity (WAM)
168.86 (0.77) 168.09
Number of Loans
14,305 (597) 13,708 Number of Borrowers
6,864 (298) 6,566
Average Borrower Indebtedness 18,048 176 18,224
Funds and Accounts
Beg Balance Activity End Balance Reserve Account
500,208 79 500,287
Reserve Amt Required
Capitalized Interest Account
Capitalized Interest Account Required
Collection Fund
4,649,475 (99,048) 4,550,427
Acquisition Account
Interest Account
Total Accounts Balance
5,149,683 (98,969) 5,050,714
25
Balance Sheet and Parity
Beg Balance Activity End Balance Assets Loans Receivable
123,878,570 (4,221,609) 119,656,961
Accrued Interest Receivable on Loans
1,955,345 (73,975) 1,881,370 Accrued Interest on Investment
2,984 (2,035) 949
Special Allowance Receivable
Loan Payments from Servicer Receivable
64,489 147,106 211,595
Due from Agency Fund
31,478 (3,861) 27,617 Investments
5,149,683 (98,969) 5,050,714
Total Assets
131,082,549 (4,253,343) 126,829,206
Liabilities
Notes Payable
109,369,908 (4,045,761) 105,324,147
Accrued Interest on Notes
521,129 (24,196) 496,933 Accrued Special Allowance Payable
747,238 (91,661) 655,577
Accrued Expenses
82,587 (2,876) 79,711 Total Liabilities
110,720,862 (4,164,494) 106,556,368
Total Parity % 118.39% 0.64% 119.03%
CPR (constant pmt rate) % Current 2-3% Lifetime 2-3% Note: Estimate only
26
Servicer Balance
Principal % of Principal # of Loans Clms Outstding
Edfinancial
107,500,425 89.84% 12,320 455,012
Nelnet
12,156,536 10.16% 1,388 181,987
Total Portfolio
119,656,961 100.00% 13,708 636,999
27
Portfolio by Loan Status
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending
In School
18 16 41,264 37,639 0.03% 0.03%
Grace
2 4 5,100 8,725 0.00% 0.01%
Repayment
Current
10,056
9,970 92,260,239
92,481,040 74.48% 77.29%
31-60 Days Delinquent
382 424 2,804,120
3,305,094 2.26% 2.76%
61-90 Days Delinquent
300 243 2,474,147
1,592,969 2.00% 1.33%
91-120 Days Delinquent
195 159 1,509,572
1,345,548 1.22% 1.12%
121-180 Days Delinquent
304 236 2,513,515
1,882,052 2.03% 1.57%
181-270 Days Delinquent
265 295 1,654,256
2,481,319 1.34% 2.07%
271+ Days Delinquent
138 70 829,479
391,090 0.67% 0.33%
Total Repayment
11,640
11,397 104,045,328
103,479,113 83.99% 86.48%
Forbearance
1,391
1,120 11,879,152
8,848,038 9.59% 7.39%
Deferment
1,191
1,077 7,551,199
6,646,447 6.10% 5.55%
Claims in Progress
63 94 356,527
636,999 0.29% 0.53%
Claims Denied
Total Portfolio
14,305
13,708 123,878,570
119,656,961 100.00% 100.00%
28
Delinquency Status
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending
Current
10,056
9,970 92,260,239
92,481,040 88.67% 89.37%
31-60 Days Delinquent
382 424 2,804,120
3,305,094 2.70% 3.19%
61-90 Days Delinquent
300 243 2,474,147
1,592,969 2.38% 1.54%
91-120 Days Delinqent
195 159 1,509,572
1,345,548 1.45% 1.30%
121-180 Days Delinquent
304 236 2,513,515
1,882,052 2.42% 1.82%
181-270 Days Delinquent
265 295 1,654,256
2,481,319 1.59% 2.40%
271+ Days Delinquent
138 70 829,479
391,090 0.80% 0.38%
Total Portfolio in Repayment
11,640
11,397 104,045,328
103,479,113 100.00% 100.00%
Portfolio by Loan Type
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending Subsidized Consolidation Loans
3,626 3,528 47,844,988 46,211,759 38.62% 38.62%
Unsubsidized Consolidation Loans
4,279 4,015 57,263,419 55,307,362 46.23% 46.22% Subsidized Stafford Loans
4,063 3,861 9,834,792 9,487,544 7.94% 7.93%
Unsubsidized Stafford Loans
2,189 2,165 8,386,546 8,115,048 6.77% 6.78% PLUS/GradPLUS Loans
146 137 467,718 456,151 0.38% 0.38%
SLS Loans
2 2 81,108 79,097 0.07% 0.07% Total Portfolio 14,305 13,708 123,878,570 119,656,961 100.00% 100.00%
29
Portfolio by Program Type
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending
Graduate / 4-Year Loans
12,110
11,815
106,738,115
110,747,373 86.16% 92.55%
2-Year Loans
1,855
1,666
7,205,335
7,006,348 5.82% 5.86%
Proprietary / Technical / Vocational Loans
293
184
1,075,371
1,040,244 0.87% 0.87%
Unknown (Consolidation) Loans
47
43
8,859,750
862,995 7.15% 0.72%
Other Loans
Total Portfolio
14,305
13,708
123,878,570
119,656,961 100.00% 100.00%
Portfolio Indices
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending
Fixed Loans
9,100 8,695 100,221,406 95,518,658 80.90% 79.83%
Variable Loans
5,205 5,013 23,657,165 24,138,303 19.10% 20.17%
T-Bill Loans
5,196 5,005 23,616,830 24,118,015 19.06% 20.16% CMT Loans
9 8 40,335 20,288 0.03% 0.02%
Total Portfolio
14,305 13,708 123,878,570 119,656,961 100.00% 100.00%
30
Student Loan Backed Reporting
Monitoring Waterfall and Collections
Distribution Date May 25, 2017 Collection Period February 1, 2017, through April 30, 2017
Collection Activity
Collection Account
as of 4/30/2017
Beginning Balance - February 1, 2017
4,649,475
Collection Amount Received
5,461,159 Recoveries
Reserve Account
Excess of Required Reserve Account
315
Interest on Investment Earnings
2,482 Capitalized Interest Account (after a stepdown or release date)
Acquisition Account
Payments from Guarantor
Special Allowance payments to Department of Education
Consolidation Rebate Fees
(284,591)
Transfer from Capitalized Interest Fund
Principal payments, interest payments, administration fees, servicing fees, and trustee fees (4,812,019) Transfer to Department Rebate Fund
(466,394)
Other Amounts Received in Collection
Total Available Funds
4,550,427
31
Fees Due for Current Period
as of 4/30/2017
Indenture Trustee Fees
Servicing Fees
69,800 Administration Fees
9,971
Late Fees
Other Fees
Total Fees 79,771
Cumulative Default Rate
as of 4/30/2017
Current Period's Defaults
472,138.54
Cumulative Defaults
50,239,575.29 Loans for which claims have been filed as of applicable month end 1,919,706.96 Cumulative Default Rate
20.41%
Cumulative Recoveries (including reimbursements and collections) Payments from Guarantor
49,325,460.71
Borrower Recoveries
n/a Recovery Rate
98.18%
Cumulative Net Loss
914,114.58 Cumulative Net Loss 0.37%
32
Waterfall for Distribution
Amount Due Amount
Remaining
Total Available Funds
$4,550,427
First: Payment required under any Joint Sharing Agreement
Second: Trustee Fees
Third: Servicing Fees and Backup Servicing Fees
$69,800 $4,480,627
Fourth: Administration Fees
$9,971 $4,470,656
Fifth: Noteholder Interest
$496,940 $3,973,716
Sixth: Reinstate the balance of the Reserve Fund up to the Specified Reserve Fund Balance
Seventh: Noteholder Principal, until paid in full
$3,973,716 $0
Principal and Interest Distributions Class A-1
Quarterly Interest Due
496,939.96 Quarterly Interest Paid
496,939.96
Interest Shortfall
-
Interest Carryover Due
- Interest Carryover Paid
-
Interest Carryover
-
Quarterly Principal Distribution Amount
3,973,716.04 Quarterly Principal Paid
3,973,716.04
Shortfall
-
Total Distribution Amount
4,470,656.00
33
ASLA 826509 Bond 00002012 Balance Sheet June 30, 2017
(Unaudited)
ASSETS
Cash $ - Assets Held by Trustee
Investments 1,448,026 Student Loans Receivable, Net 71,382,911 Accrued Interest Receivable 1,624,200 Due from 2014 Fund 63,672 Loan Payments from Servicer Receivable 93,410
Total Assets $ 74,612,219
LIABILITIES AND NET ASSETS
Notes Interest Payable $ 84,459 Accrued Expenses - Administration/Servicing 47,589 Accrued Expenses - Special Allowance 399,582 Note Payable 61,095,317
Total Liabilities 61,626,947
Net Assets 12,985,272
Total Liabilities and Net Assets $ 74,612,219
34
Student Loan Backed Reporting Distribution Report
Issuer ASLA 826509 Deal Name 2012 Distribution Date July 25, 2017 Collection Period June 1, 2017, through June 30, 2017 Contact Name Mark Conine Contact Number 501-682-1259 Contact Email
Website www.asla.info/financials
Notes/Bonds (FFELP)
CLASS A-1
CUSIP 041150DK6
Rate 1.716110%
Index 1ML
Original Balance 160,700,000
Beg. Princ. Bal. 61,095,321
Interest Accrual 84,464.17
Principal Paid 1,015,139.50
End Princ Bal 60,080,182
% of Securities 0.373865473
Maturity 11/25/2043
35
Portfolio Summary
Beg Balance Activity End Balance Principal Balance 71,903,447 (700,798) 71,202,649 Capitalized Interest
215,991 (35,729) 180,262
Total Pool Balance
72,119,438 (736,527) 71,382,911 Total Accounts Balance
Total Trust Assets
Weighted Average Coupon (WAC)
5.34 0.00 5.34 Weghted Average Maturity (WAM)
120.65 0.88 121.53
Number of Loans
22,305 (350) 21,955 Number of Borrowers
6,644 (128) 6,516
Average Borrower Indebtedness 10,855 100 10,955
Funds and Accounts
Beg Balance Activity End Balance Reserve Account
300,000 - 300,000
Reserve Amt Required
Capitalized Interest Account
Capitalized Interest Account Required
Collection Fund
1,195,539 (47,513) 1,148,026
Acquisition Account
Interest Account
Total Accounts Balance
1,495,539 (47,513) 1,448,026
36
Balance Sheet and Parity
Beg Balance Activity End Balance Assets Investments
1,495,539 (47,513) 1,448,026
Loans Receivable
72,119,438 (736,527) 71,382,911 Interest Receivable
1,609,006 15,194 1,624,200
Due from 2014 Fund
86,240 (22,568) 63,672 Loan Payments from Servicer Receivable
171,198 (77,788) 93,410
Total Assets
75,481,420 (869,201) 74,612,219
Liabilities
Notes Interest Payable
84,179 280 84,459
Accrued Expenses - Administrative/Servicing
48,080 (491) 47,589 Accrued Expenses - Special Allowance
310,180 89,402 399,582
Notes Payable
62,157,763 (1,062,446) 61,095,317 Total Liabilities
62,600,202 (973,255) 61,626,947
Total Parity % 120.58% 0.49% 121.07%
CPR (constant pmt rate) % Current 3-4% Lifetime 3-4% Note: Estimate only
37
Servicer Balance
Principal % of Principal # of Loans Clms Outstding
Edfinancial
71,382,911 100.00% 21,955
238,180
Total Portfolio
71,382,911 100.00% 21,955
238,180
38
Portfolio by Loan Status
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending In School
106 107 387,091 390,591 0.54% 0.55%
Grace
63 26 193,761 65,056 0.27% 0.09% Repayment
Current
14,216 13,784 41,810,065 40,917,460 57.97% 57.32% 31-60 Days Delinquent
788 570 3,129,685 2,009,703 4.34% 2.82%
61-90 Days Delinquent
461 252 1,945,385 969,659 2.70% 1.36% 91-120 Days Delinquent
300 219 1,101,536 859,619 1.53% 1.20%
121-180 Days Delinquent
434 201 1,613,818 796,085 2.24% 1.12% 181-270 Days Delinquent
474 278 1,714,758 930,212 2.38% 1.30%
271+ Days Delinquent
152 72 596,148 218,386 0.83% 0.31% Total Repayment
16,825 15,376 51,911,395 46,701,123 71.98% 65.42%
Forbearance
2,896 4,080 11,349,541 16,097,034 15.74% 22.55% Deferment
2,351 2,291 8,109,046 7,902,787 11.24% 11.07%
Claims in Progress
64 75 168,605 226,319 0.23% 0.32% Claims Denied
Total Portfolio 22,305 21,955 72,119,438 71,382,911 100% 100%
Delinquency Status
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending Current
14,216 13,784 41,810,065 40,917,460 80.54% 87.62%
31-60 Days Delinquent
788 570 3,129,685 2,009,703 6.03% 4.30% 61-90 Days Delinquent
461 252 1,945,385 969,659 3.75% 2.08%
91-120 Days Delinqent
300 219 1,101,536 859,619 2.12% 1.84% 121-180 Days Delinquent
434 201 1,613,818 796,085 3.11% 1.70%
181-270 Days Delinquent
474 278 1,714,758 930,212 3.30% 1.99% 271+ Days Delinquent
152 72 596,148 218,386 1.15% 0.47%
Total Portfolio in Repayment 16,825 15,376 51,911,395 46,701,123 100% 100%
39
Portfolio by Loan Type
# of Loans Principal % of Principal
Beginning Ending Beginning Ending Beginnin
g Endin
g Subsidized Consolidation Loans
Unsubsidized Consolidation Loans
Subsidized Stafford Loans
12,534
12,343
32,844,036
32,444,081 45.54%
45.45%
Unsubsidized Stafford Loans
9,304
9,164
37,218,285
36,923,467 51.61% 51.73
%
PLUS/GradPLUS Loans
467
448
2,057,118
2,015,363 2.85% 2.82% SLS Loans
Total Portfolio
22,305
21,955
72,119,438
71,382,911 100% 100%
Portfolio by Program Type
# of Loans Principal % of Principal
Beginning Ending Beginning Ending Beginnin
g Ending
Graduate / 4-Year Loans
17,333
17,049
58,067,845
57,436,601 80.52%
80.46%
2-Year Loans
4,560 4,514
13,082,777
13,020,147 18.14% 18.24
% Proprietary / Technical / Vocational Loans
412 392 968,816 926,163 1.34% 1.30%
Unknown (Consolidation) Loans
Other Loans
Total Portfolio
22,305
21,955
72,119,438
71,382,911 100% 100%
40
Portfolio Indices
# of Loans Principal % of Principal Beginning Ending Beginning Ending Beginning Ending Fixed Loans 13,145 12,941 47,850,928 47,381,352 66.35% 66.38% Variable Loans
9,160 9,014 24,268,510 24,001,559 33.65% 33.62%
T-Bill Loans
9,160 9,014 24,268,510 24,001,559 33.65% 33.62% CMT Loans
Total Portfolio
22,305 21,955 72,119,438 71,382,911 100% 100%
41
Student Loan Backed Reporting
Monitoring Waterfall and Collections
Distribution Date July 25, 2017
Collection Period June 1, 2017, through June 30, 2017
Collection Activity
Collection Account
as of 6/30/2017
Beginning Balance - June 1, 2017
1,195,539
Collection Amount Received
1,147,212
Recoveries
Reserve Account
Excess of Required Reserve Account
115
Interest on Investment Earnings
699
Capitalized Interest Account (after a stepdown or release date) Acquisition Account
Payments from Guarantor
Transfer from 2010 Collection Fund for correction of error Required Repurchases
Special Allowance Payable to Department of Education
Consolidation Rebate Fees
Rating Agency Surveillance Fees
Principal payments, interest payments, administration fees, servicing fees, and trustee fees
(1,195,539)
Other Amounts Received in Collection
Total Available Funds 1,148,026
42
Fees Due for Current Period as of 6/30/2017
Indenture Trustee Fees
833.33 Servicing Fees
41,640
Administration Fees
5,949
Late Fees
Other Fees
Total Fees 48,422.33
Cumulative Default Rate
as of 6/30/2017
Current Period Defaults ($)
154,746.09
Cumulative Defaults ($)
34,867,086.17
Cumulative Default (% of original pool balance)
21.72% Cumulative Default (% of cumulative entered repayment balance) a
49.16%
Current Period Payments (Recoveries) from Guarantor ($)
128,756.07 Current Period Borrower Recoveries ($)
n/a
Cumulative Recoveries ($) b
$ 32,799,657.17 Cumulative Recovery Rate (%)
94.07%
Cumulative Net Loss Rate (%)
1.29% Servicer Reject Rate (FFELP) (%) Cumulative Servicer Reject Rate (FFELP) (%)
a) Repayment balance includes all repayment loans with the exception of balances in claim status b) Cumulative Recoveries includes 97% of claims in progress balances
43
Waterfall for Distribution Amount Due Amount
Remaining
Total Available Funds
$1,148,026
First: Payments made under any Joint Sharing Agreement
Second: Trustee Fees
$833
$1,147,193
Third: Servicing Fees and Backup Servicing Fees
$41,640
$1,105,553
Fourth: Administration Fees
$5,949
$1,099,604
Fifth: Noteholder Interest
$84,464
$1,015,139
Sixth: Reinstate the balance of the Reserve Fund up to the Specified Reserve Fund Balance
Seventh: Noteholder Principal, until paid in full $1,015,140 $0
Principal and Interest Distributions Class A-1
Monthly Interest Due
84,464.17 Monthly Interest Paid
84,464.17
Interest Shortfall
-
Interest Carryover Due
- Interest Carryover Paid
-
Interest Carryover
-
Monthly Principal Distribution Amount
1,015,139.50 Monthly Principal Paid
1,015,139.50
Shortfall
-
Total Distribution Amount
1,099,603.67
44
45
46
47
48
49
50
51
Section V Non-Lending Activities
Non-Lending Activities include the Affordable Housing Compliance and Monitoring Review, Bond Indebtedness, and research and analysis conducted by the Economic Policy Division.
52
Part 1. Affordable Housing Compliance and Monitoring Review
Compliance Reviews by Congressional District (CD) and County
Property Name County CD Review Type Review Year
Total Units
Units Reviewed
% of Units Reviewed
Alcott Manor St Francis County 1 Physical Inspection 2017 18 5 27.78%
Alcott Manor St Francis County 1 LIHTC Compliance 2017 18 5 27.78%
Auburn Hills Apartments Lonoke County 1 LIHTC Compliance 2017 24 5 20.83%
Auburn Hills Apartments Lonoke County 1 Physical Inspection 2017 24 5 20.83%
Barton Court Apartments Crittenden County 1 HOME/LIHTC/TCAP/Exchange 2017 80 16 20.00%
Barton Court Apartments Crittenden County 1 Physical Inspection 2017 80 16 20.00%
BRAD Black River Housing Randolph County 1 HOME/LIHTC/MSF 2017 32 8 25.00%
Calico Pines Izard County 1 HOME/LIHTC 2017 27 5 18.52%
Calico Pines Izard County 1 Physical Inspection 2017 27 5 18.52%
Calico Terrace Izard County 1 LIHTC Compliance 2017 29 7 24.14%
Calico Terrace Izard County 1 Physical Inspection 2017 29 9 31.03%
Capri Apartments Mississippi County 1 TE Bonds 2017 187 15 8.02%
Capri Apartments Mississippi County 1 Physical Inspection 2017 187 15 8.02%
Craighead Place Craighead County 1 HOME/LIHTC 2017 31 7 22.58%
Craighead Place Craighead County 1 Physical Inspection 2017 31 6 19.35%
Cypress Point Apartments - Humphrey Arkansas County 1 LIHTC Compliance 2017 16 5 31.25%
Cypress Point Apartments - Humphrey Arkansas County 1 Physical Inspection 2017 16 5 31.25%
Delta Cove Apartments Woodruff County 1 HOME/LIHTC 2017 24 10 41.67%
Delta Hills I Jackson County 1 Physical Inspection 2017 6 5 83.33%
Delta Hills I Jackson County 1 HOME 2017 6 6 100.00%
53
Delta Hills II Izard County 1 HOME 2017 11 5 45.45%
Earle Apts fka Davis Manor Crittenden County 1 LIHTC Compliance 2017 24 5 20.83%
Earle Apts fka Davis Manor Crittenden County 1 Physical Inspection 2017 24 5 20.83%
Garden Manor Apartments Craighead County 1 HOME/LIHTC/TCAP/Exchange 2017 48 10 20.83%
Garden Manor Apartments Craighead County 1 Physical Inspection 2017 48 10 20.83%
Glen Echo Apartments Searcy County 1 LIHTC Compliance 2017 24 5 20.83%
Glen Echo Apartments Searcy County 1 Physical Inspection 2017 24 7 29.17%
Hickory Square Apartments - Stuttgart Arkansas County 1 Physical Inspection 2017 40 8 20.00%
Hickory Square Apartments - Stuttgart Arkansas County 1 LIHTC Compliance 2017 40 7 17.50%
Homewood Village Apartments Sharp County 1 HOME/LIHTC 2017 45 11 24.44%
Homewood Village Apartments Sharp County 1 Physical Inspection 2017 45 9 20.00%
Hughes Towers II St Francis County 1 HOME/LIHTC 2017 21 8 38.10%
Imperial Homes North Crittenden County 1 LIHTC Compliance 2017 64 34 53.13%
Imperial Homes North Crittenden County 1 Physical Inspection 2017 64 13 20.31%
Jonesboro Sunset Gardens Craighead County 1 HOME/LIHTC 2017 70 14 20.00%
Jonesboro Sunset Gardens Craighead County 1 Physical Inspection 2017 70 14 20.00%
Kenmont Apartments Jackson County 1 Physical Inspection 2017 42 8 19.05%
Kenmont Apartments Jackson County 1 LIHTC Compliance 2017 42 9 21.43%
Magnolia Lane Apartments Arkansas County 1 LIHTC Compliance 2017 20 5 25.00%
Magnolia Lane Apartments Arkansas County 1 Physical Inspection 2017 20 5 25.00%
Malcolm Manor Crittenden County 1 HOME/LIHTC 2017 24 5 20.83%
Malcolm Manor Crittenden County 1 Physical Inspection 2017 24 5 20.83%
Meadows - West Memphis Crittenden County 1 LIHTC/TE Bonds 2017 120 24 20.00%
Meadows - West Memphis Crittenden County 1 Physical Inspection 2017 120 24 20.00%
Meadows at Forrest City St Francis County 1 HOME/LIHTC 2017 48 19 39.58%
Mountainview Estates II Baxter County 1 LIHTC Compliance 2017 36 7 19.44%
Mountainview Estates II Baxter County 1 Physical Inspection 2017 36 21 58.33%
North Acres Apartments Craighead County 1 HOME/LIHTC/TCAP/Exchange 2017 48 10 20.83%
54
Oak Grove Apartments - Osceola Mississippi County 1 LIHTC Compliance 2017 25 5 20.00%
Oak Grove Apartments - Osceola Mississippi County 1 Physical Inspection 2017 25 5 20.00%
Reyno Manor Randolph County 1 LIHTC Compliance 2017 16 5 31.25%
Reyno Manor Randolph County 1 Physical Inspection 2017 16 5 31.25%
Riverside Park Apartments I fka Park Plaza I Crittenden County 1 HOME/LIHTC 2017 64 25 39.06%
Riverside Park Apartments I fka Park Plaza I Crittenden County 1 Physical Inspection 2017 64 13 20.31%
Riverside Park Apartments II fka Park Plaza II Crittenden County 1 HOME/LIHTC 2017 64 18 28.13%
Riverside Park Apartments II fka Park Plaza II Crittenden County 1 Physical Inspection 2017 64 14 21.88%
Savannah Park of Rector fka Willow Gate Clay County 1 LIHTC Compliance 2017 24 6 25.00%
Savannah Park of Rector fka Willow Gate Clay County 1 Physical Inspection 2017 24 5 20.83%
St Francis Assisted Living Center St Francis County 1 HOME/ALIF 2017 40 8 20.00%
St Francis Assisted Living Center St Francis County 1 Physical Inspection 2017 40 8 20.00%
StoneBrook Park of Forrest City St Francis County 1 HOME/LIHTC/CDBG 2017 41 8 19.51%
StoneBrook Park of Forrest City St Francis County 1 Physical Inspection 2017 41 8 19.51%
Sunset Estates of Jonesboro Craighead County 1 HOME/LIHTC/TCAP/Exchange 2017 32 6 18.75%
Sunset Estates of Jonesboro Craighead County 1 Physical Inspection 2017 32 6 18.75%
Turrell Manor Apartments Crittenden County 1 HOME 2017 24 5 20.83%
Turrell Manor Apartments Crittenden County 1 Physical Inspection 2017 24 5 20.83%
Turrell Meadows Crittenden County 1 HOME/LIHTC 2017 25 5 20.00%
Turrell Meadows Crittenden County 1 Physical Inspection 2017 25 5 20.00%
Twin City Manor Phillips County 1 LIHTC/FAF 2017 64 14 21.88%
Twin City Manor Phillips County 1 Physical Inspection 2017 64 13 20.31%
Valley Estates of Mountain Home Baxter County 1 HOME/LIHTC 2017 48 8 16.67%
Valley Estates of Mountain Home Baxter County 1 Physical Inspection 2017 48 8 16.67%
Villas of Jonesboro Craighead County 1 HOME/LIHTC 2017 48 8 16.67%
Villas of Jonesboro Craighead County 1 Physical Inspection 2017 48 10 20.83%
Walker Courts North Apts Craighead County 1 LIHTC Compliance 2017 49 20 40.82%
Walker Courts South Apts Craighead County 1 LIHTC Compliance 2017 64 26 40.63%
55
Walnut Lane Apartments Baxter County 1 HOME/LIHTC 2017 24 10 41.67%
West Helena Village Phillips County 1 LIHTC/MSF 2017 48 20 41.67%
White River Regional Housing Authority Izard County 1 HOME TBRA 2017 80 11 13.75%
Woodlake Apartments Lonoke County 1 HOME/LIHTC 2017 24 10 41.67%
Woodlake Apartments Lonoke County 1 HOME/LIHTC 2017 24 10 41.67%
Arkansas River Apts fka Valley Heights Apts II Pulaski County 2 Physical Inspection 2017 72 13 18.06%
Arkansas River Apts fka Valley Heights Apts II Pulaski County 2 LIHTC/TE Bonds 2017 72 18 25.00%
Asbury Park Pulaski County 2 LIHTC Compliance 2017 106 21 19.81%
BCD Male and Female Empowerment Residential Center Pulaski County 2 Physical Inspection 2017 32 9 28.13%
BCD Male and Female Empowerment Residential Center Pulaski County 2 HOME 2017 32 11 34.38%
Birch House Apartments fka Birch Grove Apts Grant County 2 HOME/LIHTC 2017 10 5 50.00%
Birch House Apartments fka Birch Grove Apts Grant County 2 Physical Inspection 2017 10 5 50.00%
Bluffs on McCain I Pulaski County 2 HOME/LIHTC/TCAP/FAF 2017 120 24 20.00%
Bluffs on McCain I Pulaski County 2 Physical Inspection 2017 120 24 20.00%
Bluffs on McCain II fka North Park Apartments Pulaski County 2 HOME/LIHTC 2017 64 13 20.31%
Bluffs on McCain II fka North Park Apartments Pulaski County 2 Physical Inspection 2017 64 13 20.31%
Buffington Tower Pulaski County 2 Physical Inspection 2017 109 22 20.18%
Chapel Ridge of Benton Saline County 2 LIHTC/TE Bonds 2017 160 24 15.00%
Chapel Ridge of Benton Saline County 2 Physical Inspection 2017 160 23 14.38%
Chapel Ridge of Jacksonville II Pulaski County 2 Physical Inspection 2017 116 18 15.52%
Chapel Ridge of Jacksonville II Pulaski County 2 LIHTC/TE Bonds 2017 116 18 15.52%
Chapel Ridge of Little Rock II Pulaski County 2 Physical Inspection 2017 122 16 13.11%
Chapel Ridge of Little Rock II Pulaski County 2 LIHTC/TE Bonds 2017 122 20 16.39%
Cottages at Conway Phase II Faulkner County 2 LIHTC Compliance 2017 40 13 32.50%
Cottages of Good Shepherd I Pulaski County 2 Physical Inspection 2017 52 10 19.23%
Cottages of Good Shepherd I Pulaski County 2 LIHTC/CDBG 2017 52 10 19.23%
Cottages of Good Shepherd II Pulaski County 2 Physical Inspection 2017 52 10 19.23%
Cottages of Good Shepherd II Pulaski County 2 LIHTC/CDBG 2017 52 10 19.23%
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Cumberland Manor Pulaski County 2 Physical Inspection 2017 60 10 16.67%
Cumberland Manor Pulaski County 2 HOME/LIHTC 2017 60 8 13.33%
Elm Street Community Pulaski County 2 Physical Inspection 2017 50 10 20.00%
Elm Street Community Pulaski County 2 LIHTC Compliance 2017 50 10 20.00%
Ford Properties Homes Pulaski County 2 Physical Inspection 2017 22 7 31.82%
Ford Properties Homes Pulaski County 2 NSP I 2017 22 5 22.73%
Greenbrier Gardens Faulkner County 2 Physical Inspection 2017 40 8 20.00%
Greenbrier Gardens Faulkner County 2 LIHTC Compliance 2017 40 8 20.00%
Haven Home II Yell County 2 HOME 2017 8 4 50.00%
Haven Home II Yell County 2 Physical Inspection 2017 8 5 62.50%
Manor Pulaski County 2 NSPIII/FAF/ALIF 2017 75 17 22.67%
Manor Pulaski County 2 Physical Inspection 2017 75 8 10.67%
Metropolitan Housing Alliance Pulaski County 2 HOME TBRA 2017 62 5 8.06%
Metropolitan Village Pulaski County 2 Physical Inspection 2017 60 9 15.00%
Metropolitan Village Pulaski County 2 HOME/LIHTC 2017 60 10 16.67%
Park at Whispering Pines Apartments Faulkner County 2 Physical Inspection 2017 40 10 25.00%
Park at Whispering Pines Apartments Faulkner County 2 LIHTC Compliance 2017 40 6 15.00%
Park Ridge at Texarkana Phase II Miller County 2 HOME/LIHTC/TCAP/Exchange 2017 48 10 20.83%
Park Ridge at Texarkana Phase II Miller County 2 Physical Inspection 2017 48 10 20.83%
Peaks at Country Club III fka Peaks NLR II Pulaski County 2 Physical Inspection 2017 48 8 16.67%
Peaks at Country Club III fka Peaks NLR II Pulaski County 2 LIHTC/CDBG 2017 48 10 20.83%
Pinewood Manor Saline County 2 LIHTC/PRLF 2017 44 13 29.55%
Pinewood Manor Saline County 2 Physical Inspection 2017 44 9 20.45%
Pulaski County Housing Authority Pulaski County 2 HOME TBRA 2017 7 2 28.57%
Reed Property Group Pulaski County 2 Physical Inspection 2017 4 4 100.00%
Reed Property Group Pulaski County 2 NSP I 2017 4 4 100.00%
Ridge at Morrilton Conway County 2 LIHTC Compliance 2017 48 19 39.58%
Ridge at North Little Rock II Pulaski County 2 Physical Inspection 2017 48 10 20.83%
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Ridge at North Little Rock II Pulaski County 2 HOME/LIHTC 2017 48 10 20.83%
Rock Creek Apartments of Conway Faulkner County 2 HOME/LIHTC/TCAP/Exchange 2017 56 11 19.64%
Rock Creek Apartments of Conway Faulkner County 2 Physical Inspection 2017 56 9 16.07%
Senior Residences of Sherwood Pulaski County 2 Physical Inspection 2017 65 13 20.00%
Senior Residences of Sherwood Pulaski County 2 LIHTC Compliance 2017 65 13 20.00%
Somerton Circle Pulaski County 2 Physical Inspection 2017 28 6 21.43%
Somerton Circle Pulaski County 2 HOME 2017 28 8 28.57%
Spanish Jon's Apartments Pulaski County 2 LIHTC/TE Bonds 2017 224 45 20.09%
Spanish Jon's Apartments Pulaski County 2 Physical Inspection 2017 224 52 23.21%
Stone Ridge at Conway fka Park Ridge Phase II Faulkner County 2 Physical Inspection 2017 48 8 16.67%
Stone Ridge at Conway fka Park Ridge Phase II Faulkner County 2 HOME/LIHTC 2017 48 10 20.83%
Stone Ridge at Conway II fka Park Ridge Phase III Faulkner County 2 Physical Inspection 2017 48 8 16.67%
Stone Ridge at Conway II fka Park Ridge Phase III Faulkner County 2 HOME/LIHTC/TCAP/Exchange 2017 48 10 20.83%
Northwood Park Apartments Pulaski County 2 Physical Inspection 2017 40 9 22.50%
Northwood Park Apartments Pulaski County 2 LIHTC Compliance 2017 40 10 25.00%
Summertree & Valley View Apartments Pulaski County 2 LIHTC/TE Bonds 2017 240 48 20.00%
Summertree & Valley View Apartments Pulaski County 2 Physical Inspection 2017 240 48 20.00%
Villas at Country Club Pulaski County 2 Physical Inspection 2017 51 9 17.65%
Villas at Country Club Pulaski County 2 HOME/LIHTC 2017 51 10 19.61%
Villas at Country Club II Pulaski County 2 Physical Inspection 2017 51 10 19.61%
Villas at Country Club II Pulaski County 2 LIHTC/CDBG 2017 51 10 19.61%
Westgate Apartments Saline County 2 LIHTC/PRLF 2017 41 12 29.27%
Westgate Apartments Saline County 2 Physical Inspection 2017 41 8 19.51%
Westside Lofts Pulaski County 2 Physical Inspection 2017 43 8 18.60%
Westside Lofts Pulaski County 2 LIHTC Compliance 2017 43 9 20.93%
Woodbend Apartments Pulaski County 2 LIHTC/TCAP/Exchange 2017 104 23 22.12%
Autumn Village Apartments Boone County 3 HOME/LIHTC 2017 46 10 21.74%
Autumn Village Apartments Boone County 3 Physical Inspection 2017 46 9 19.57%
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Birchtree Acres Carroll County 3 HOME/LIHTC 2017 38 14 36.84%
Birchtree Acres Carroll County 3 Physical Inspection 2017 38 8 21.05%
Briarwood Apartments Sebastian County 3 LIHTC/TE Bonds 2017 128 26 20.31%
Briarwood Apartments Sebastian County 3 Physical Inspection 2017 128 26 20.31%
Coal Hill Manor Johnson County 3 LIHTC Compliance 2017 21 5 23.81%
Coal Hill Manor Johnson County 3 Physical Inspection 2017 21 5 23.81%
Cottonwood Heights Apartments Boone County 3 LIHTC Compliance 2017 64 12 18.75%
Garden Walk fka Incline Village Crawford County 3 LIHTC Compliance 2017 38 8 21.05%
Garden Walk fka Incline Village Crawford County 3 Physical Inspection 2017 38 8 21.05%
Garden Walk of Barling Sebastian County 3 HOME/LIHTC 2017 41 10 24.39%
Garden Walk of Barling Sebastian County 3 Physical Inspection 2017 41 8 19.51%
Garden Walk of Gravette fka Quail Creek Apts Benton County 3 LIHTC Compliance 2017 25 5 20.00%
Garden Walk of Gravette fka Quail Creek Apts Benton County 3 Physical Inspection 2017 25 10 40.00%
Garden Walk on Elfen Glen II/ Ashley Park II Crawford County 3 LIHTC/PRLF 2017 54 11 20.37%
Garden Walk on Elfen Glen II/ Ashley Park II Crawford County 3 Physical Inspection 2017 54 11 20.37%
Grandview Apartments - Jasper Newton County 3 LIHTC Compliance 2017 24 5 20.83%
Keystone Baxter County 3 HOME/LIHTC 2017 45 10 22.22%
Keystone Baxter County 3 Physical Inspection 2017 45 9 20.00%
Madison Estates Apartments Madison County 3 LIHTC Compliance 2017 36 7 19.44%
Madison Estates Apartments Madison County 3 Physical Inspection 2017 36 7 19.44%
Maple Church Apartments Boone County 3 HOME 2017 28 5 17.86%
Maple Church Apartments Boone County 3 Physical Inspection 2017 28 5 17.86%
Maple Esplanade Assisted Living Boone County 3 HOME/LIHTC/TCAP/Exchange 2017 57 8 14.04%
Northwest Regional Housing Authority Boone County 3 HOME TBRA 2017 10 1 10.00%
Markham Hill Apts Phase I & II fka Meadow Brook I Washington County 3 LIHTC Compliance 2017 112 23 20.54%
Markham Hill Apts Phase I & II fka Meadow Brook I Washington County 3 LIHTC Compliance 2017 112 22 19.64%
Mill Creek Apartments III Washington County 3 HOME 2017 8 5 62.50%
Mill Creek Apartments III Washington County 3 Physical Inspection 2017 8 5 62.50%
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Meadow Park Apartments Benton County 3 HOME/LIHTC 2017 70 29 41.43%
Meadows of Rogers Senior Citizen Complex Benton County 3 NSP I 2017 62 12 19.35%
Meadows of Rogers Senior Citizen Complex Benton County 3 Physical Inspection 2017 62 10 16.13%
Moberly Place Apartments I and II Benton County 3 LIHTC Compliance 2017 120 24 20.00%
Moberly Place Apartments I and II Benton County 3 Physical Inspection 2017 120 24 20.00%
Mountain Station II Apartments Baxter County 3 LIHTC Compliance 2017 52 9 17.31%
Mountain Station II Apartments Baxter County 3 Physical Inspection 2017 52 8 15.38%
Norfork Villas Baxter County 3 LIHTC Compliance 2017 24 6 25.00%
Norfork Villas Baxter County 3 Physical Inspection 2017 24 5 20.83%
North Pointe Sebastian County 3 HOME/LIHTC 2017 50 8 16.00%
North Pointe Sebastian County 3 Physical Inspection 2017 50 8 16.00%
North Pointe II Sebastian County 3 HOME/LIHTC 2017 65 9 13.85%
North Pointe II Sebastian County 3 Physical Inspection 2017 65 9 13.85%
Parkwood Place Johnson County 3 LIHTC Compliance 2017 24 5 20.83%
Parkwood Place Johnson County 3 Physical Inspection 2017 24 5 20.83%
Robinson Apartments Benton County 3 LIHTC Compliance 2017 40 8 20.00%
Robinson Apartments Benton County 3 Physical Inspection 2017 40 8 20.00%
Savannah Park of Altus fka Sunnyfield Apartments Franklin County 3 LIHTC Compliance 2017 22 5 22.73%
Savannah Park of Altus fka Sunnyfield Apartments Franklin County 3 Physical Inspection 2017 22 5 22.73%
Savannah Park of Farmington (Village Lane) Washington County 3 HOME/LIHTC 2017 36 7 19.44%
Savannah Park of Farmington (Village Lane) Washington County 3 Physical Inspection 2017 36 12 33.33%
StoneBrook Park of Van Buren Crawford County 3 HOME/LIHTC 2017 40 17 42.50%
Touchstone Village Apartments Benton County 3 LIHTC/TE Bonds 2017 189 40 21.16%
Touchstone Village Apartments Benton County 3 LIHTC/TE Bonds 2017 189 42 22.22%
Walnut Park Estates Sebastian County 3 LIHTC Compliance 2017 33 5 15.15%
Walnut Park Estates Sebastian County 3 Physical Inspection 2017 33 5 15.15%
Walnut Park Estates II Sebastian County 3 LIHTC Compliance 2017 25 5 20.00%
Walnut Park Estates II Sebastian County 3 Physical Inspection 2017 25 5 20.00%
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Western Grove Family Apts fka Western Grove Villas Newton County 3 LIHTC Compliance 2017 26 6 23.08%
Apple Ridge Apartments Columbia County 4 LIHTC Compliance 2017 24 5 20.83%
Apple Ridge Apartments Columbia County 4 Physical Inspection 2017 24 6 25.00%
Buhrman-Pharr Lofts Miller County 4 HOME/LIHTC 2017 40 6 15.00%
Buhrman-Pharr Lofts Miller County 4 Physical Inspection 2017 40 6 15.00%
Camden Manor Apartments Ouachita County 4 LIHTC Compliance 2017 32 6 18.75%
Camden Manor Apartments Ouachita County 4 Physical Inspection 2017 32 6 18.75%
Centennial Apartments Desha County 4 HOME/LIHTC 2017 24 5 20.83%
Centennial Apartments Desha County 4 Physical Inspection 2017 24 6 25.00%
Chateau Desha Apartments Desha County 4 HOME/LIHTC 2017 40 8 20.00%
Chateau Desha Apartments Desha County 4 Physical Inspection 2017 40 8 20.00%
Columbia Heights Apartments Ouachita County 4 LIHTC/PRLF 2017 33 12 36.36%
Cypress Point Apartments - Wabbaseka Jefferson County 4 LIHTC Compliance 2017 8 5 62.50%
Cypress Point Apartments - Wabbaseka Jefferson County 4 Physical Inspection 2017 8 5 62.50%
Dermott Terrace fka Dermott Villas Chicot County 4 HOME/LIHTC 2017 33 6 18.18%
Dermott Terrace fka Dermott Villas Chicot County 4 Physical Inspection 2017 33 5 15.15%
Drew Apartments Drew County 4 HOME/LIHTC 2017 24 5 20.83%
Drew Apartments Drew County 4 Physical Inspection 2017 24 6 25.00%
Dumas Scattered Sites Desha County 4 HOME/LIHTC/BMIR 2017 20 5 25.00%
Dumas Scattered Sites Desha County 4 Physical Inspection 2017 20 8 40.00%
Elliston Place fka Ross Apartments Clark County 4 HOME/LIHTC 2017 50 20 40.00%
Emerald Village at Hope Hempstead County 4 HOME/LIHTC 2017 48 21 43.75%
Fulton Square Apartments Hempstead County 4 LIHTC Compliance 2017 40 8 20.00%
Fulton Square Apartments Hempstead County 4 Physical Inspection 2017 40 8 20.00%
Garden Walk of Booneville Logan County 4 HOME/LIHTC 2017 49 10 20.41%
Garden Walk of Booneville Logan County 4 Physical Inspection 2017 49 11 22.45%
Hampton Cove Calhoun County 4 HOME/LIHTC 2017 25 12 48.00%
Holly Point Homes Ashley County 4 Physical Inspection 2017 8 5 62.50%
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Holly Point Homes Ashley County 4 HOME 2017 8 5 62.50%
Home Harbor Hot Springs Garland County 4 LIHTC/TCAP/Exchange 2017 64 13 20.31%
Home Harbor Hot Springs Garland County 4 Physical Inspection 2017 64 13 20.31%
Millwood Place Johnson County 4 HOME/LIHTC/MSF 2017 48 20 41.67%
Oak Grove Apartments - McGehee Desha County 4 LIHTC Compliance 2017 24 5 20.83%
Oak Grove Apartments - McGehee Desha County 4 Physical Inspection 2017 24 5 20.83%
Park Place Apartments - Hot Springs Garland County 4 LIHTC/FAF 2017 71 14 19.72%
Park Place Apartments - Hot Springs Garland County 4 Physical Inspection 2017 71 14 19.72%
Park Ridge at Texarkana Miller County 4 HOME/LIHTC/TCAP/Exchange 2017 48 10 20.83%
Park Ridge at Texarkana Miller County 4 Physical Inspection 2017 48 10 20.83%
Peaks at Hope Hempstead County 4 HOME/LIHTC 2017 48 10 20.83%
Peaks at Hope Hempstead County 4 Physical Inspection 2017 48 10 20.83%
Peaks at Hot Springs Garland County 4 Physical Inspection 2017 48 8 16.67%
Peaks at Hot Springs Garland County 4 HOME/LIHTC 2017 48 8 16.67%
Ridge at Lake Hamilton Garland County 4 Physical Inspection 2017 96 16 16.67%
Ridge at Lake Hamilton Garland County 4 LIHTC Compliance 2017 96 19 19.79%
Ridgeway Drew County 4 HOME/LIHTC/TCAP/Exchange 2017 32 7 21.88%
Ridgeway Drew County 4 Physical Inspection 2017 32 6 18.75%
SAILS-Spa Area Independent Living Services Garland County 4 HOME TBRA 2017 0 0 0.00%
TimberRidge Apartments Sevier County 4 HOME/LIHTC 2017 29 6 20.69%
TimberRidge Apartments Sevier County 4 Physical Inspection 2017 29 6 20.69%
Villas of Texarkana Miller County 4 HOME/LIHTC 2017 51 10 19.61%
Villas of Texarkana Miller County 4 Physical Inspection 2017 51 10 19.61%
Westridge Apartments Lincoln County 4 LIHTC Compliance 2017 16 5 31.25%
Westridge Apartments Lincoln County 4 Physical Inspection 2017 16 9 56.25%
Whispering Knoll Assisted Living Jefferson County 4 HOME/LIHTC 2017 40 8 20.00%
Whispering Knoll Assisted Living Jefferson County 4 Physical Inspection 2017 40 6 15.00%
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Summary of Projects Reviewed
CD Total Projects Reviewed Total Units Total Unit Files Audited Total Units Inspected 1 45 1987 495 305 2 41 2649 547 459 3 30 1946 419 210 4 33 1121 279 198
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Part 2. ADFA Outstanding Bonds by Fiscal Year 2000-2017
Fiscal Year Original Allocation Remaining Principal % Outstanding 2000 $24,950,000.00 $10,757,695.51 43.12% 2001 $10,380,000.00 $5,800,000.00 55.88% 2002 $69,282,000.00 $26,435,661.30 38.16% 2003 $19,955,000.00 $17,877,919.20 89.59% 2004 $8,400,000.00 $7,349,324.59 87.49% 2005 $48,425,000.00 $14,984,232.38 30.94% 2006 $98,130,159.75 $76,360,539.79 77.82% 2007 $406,120,000.00 $126,490,000.00 31.15% 2008 $44,675,000.00 $13,965,000.00 31.26% 2009 $190,575,000.00 $38,695,000.00 20.30% 2010 $24,065,000.00 $16,325,000.00 67.84% 2011 $57,830,000.00 $31,950,000.00 55.25% 2012 $176,655,000.00 $125,673,084.70 71.14% 2013 $192,182,249.00 $149,123,920.19 77.60% 2014 $99,855,000.00 $79,321,191.12 79.44% 2015 $582,676,926.00 $576,041,926.00 98.86% 2016 $156,065,000.00 $15,605,000.00 10.00% 2017 $ 2,355,413,609.70 $1,431,300,188.92 60.77%
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Part 3. Economic Policy Division
The ADFA Economic Policy Division was established in 2017 for the purpose of broadly leveraging ADFA’s financial resources and expertise for the benefit of state government.
The Economic Policy Division has begun collaboration with other state agencies to analyze issues relevant to their work, including these
agencies:
Department of Arkansas Heritage
Department of Agriculture
Inland Waterways Commission
Department of Education
Department of Health
Department of Finance and Administration
ADFA also contracted an external researcher to carry out a study of tax policy which was salient to tax reform discussions underway in the
legislature.
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The Economic Policy Division benefits from synergy with other ADFA departments by tapping into the broader pool of expertise that ADFA offers.
When the Economic Policy Division was working on river navigation and studying the advisability of deepening the channel of the Arkansas River to 12’, ADFA’s Public Finance Officer helped the division assess the legal and financial feasibility of using a bond issue to fund the channel-deepening project.
When tasked with analyzing innovation incubators and accelerators in the state, the Economic Policy Division worked with ADFA’s Development Finance team to create a well-informed picture of the state’s entrepreneurial ecosystem.
In other instances, synergy occurs when the Economic Policy Division’s expertise is deployed to help other departments in ADFA.
The Economic Policy team’s SQL expertise was useful when ADFA was managing a software transition and needed to migrate data from one data warehouse into another.
The Economic Policy team also helped to design an “Area of Opportunity Index” which used local unemployment, vacancy, and population growth rates at the Census tract level to help the Housing team score developers’ proposals to build Low-Income Housing Tax Credit projects.
The Economic Policy team alerted the Student Loan Authority team of opportunities to promote economic development in the state
and advance the Governor’s campaign to encourage computer science education by making educational loans to students at the Arkansas Coding Academy.
