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American Recovery and Reinvestment Act Programs

 

Economic Development

ADFA Co-Investment Fund (Qualified SSBCI Program) - direct co-investments in Arkansas companies that have received commitments for an institutional venture capital investment from qualified venture capital entities. 

Arkansas Venture Capital Investment Program - Increase the availability of equity and near equity capital for emerging, expanding, relocating, and restructuring enterprises in Arkansas.

Arkansas Risk Capital Matching Fund  (Qualified SSBCI Program) - The Arkansas Risk Capital Matching Fund (ARCMF) works to strengthen and advance the financial infrastructure that supports and accelerates the growth of technology-based enterprises in Arkansas.

Beginning Farmer Loan Program - assists beginning farmers acquire agricultural property at lower interest rates.

Capital Access Program  (Qualified SSBCI Program) - creates a method for making slightly higher risk loans more attractive to participating lending institutions.

Disadvantaged Business Enterprise Program  (Qualified SSBCI Program) - provides banks with working capital guarantees for disadvantaged business enterprise contractors.

Farm Mediation Program
- provides a forum for farmers and lenders to resolve loan debt service payment problems.

Industrial Development Bond Guaranty Program  (Qualified SSBCI Program)
- provides long-term, below market fixed interest rate loans to manufacturing industries.

Port Facilities Revolving Loan Program - supports investment in port facilities for Arkansas' navigable waterways.

Seed and Angel Capital Network  (Qualified SSBCI Program) - The existing ADFA “fund of funds” model has been expanded to include making commitments for risk capital investments to Arkansas based seed and angel capital funds. 

Speculative Building Loan Program - provides a source of financing to Industrial Development Corps. interested in building spec. industrial facilities.

Tourism Development Loan Program - loans for new business start up or expansion in the tourism industry

Waste Water Revolving Loan Fund - provides low interest rate financing to municipalities wishing to improve their waste water treatment facilities.

Homeownership

HomeToOwn (Mortgage Revenue Bond Program) - low interest rate loans to low and moderate income first time homebuyers.

Down Payment Assistance Program - provided to qualifying lower-income Arkansans.

Mortgage Credit Certificate Program Guide A Mortgage Credit Certificate is a direct dollar for dollar federal income tax credit to the homebuyer.  The amount of the tax credit benefit may not exceed $2,000 in any given tax year.

ADFA's Arkansas Dream Downpayment Initiative - downpaymennt assistance for lower income Arkansans.

HOME Program - homeowners assisted with HOME funds must have incomes at or below 80% of the area median income adjusted for family size. The home must be the owner's principal residence and must be valued at or below 95% of the median area purchase price.

Affordable Rental Housing

Financing Adjustment Factor ("FAF") / Below Market Interest Rate Funds  when available, are intended to fill gaps in a development's budget to ensure affordability of FAF-assisted housing units for very low income families.  Applications must contain a minimum of 5 units.

Low Income Housing Tax Credit Program - assists in the development of apartments for low income Arkansans.

HOME Program - Federally funded program with housing grant funds targeted to assist low and very low income Arkansans.

Tax-Exempt Multi-Family Housing Bonds - below market rate mortgages provided to developers who agree to set rents that are affordable to low to moderate income families.

CDBG Disaster Program for Affordable Rental Housing - CDBG Supplemental Disaster Funding for the development or redevelopment of affordable rental housing.

Assisted Living Incentive Fund -- used to incentivize the development of affordable Assisted Living housing in Arkansas and to strengthen the financial feasibility of such developments

 

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