ADFA Awards $467,500 for Affordable Housing in Lake Village

Posted by Arkansas Real Estate

April 23, 2008

Little Rock, AR – 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 Chicot County Housing Assistance Council.

The funds will be used to construct five homes for low-income homebuyers in Lake Village. The new homes will be 1,243 square foot with a proposed sales price of $92,500. CHAC is a repeat HOME applicant and has successfully completed ADFA-financed homeowner rehabilitation projects and USDA Self-Help projects assisting low-income homebuyers.

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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